‘Do I REALLY need to sell?’ Part Two
Drawing out some of the themes from last time’s ‘whistle-stop tour’ (and in case you missed it, the answer to the question posed is ‘yes’. Of course!), I wanted this time to dwell a little on the concept of the Value Proposition.
It’s become a fashionable phrase. As such it’s prone to cliché underlined by a flimsy grasp as to what it actually is. So, go to https://platform.strategyzer.com. There you’ll find a Value Proposition Canvas along with some useful resources on how to use it. It looks like this:
The left-hand square is your ‘product’ and the right hand circle is your customer – possibly your broader market. The vital point in the middle (red circle) is where they meet as the Value Proposition. As you can see, the Proposition is composed of product attributes that align with the needs and wants of the customer. On both sides there are breakdowns that are actually different sides of the same three coins: The gains (or positives) present as product features, and the corresponding gains perceived by the customer, typically articulated as an answer to a general question such as ‘what savings would you most value?’ or ‘what is the most valuable improvement you could make to your business right now?’ or perhaps a much more specific question. And so on with the pains or negatives they face and then, those jobs or task they’ll have that can either be removed, speeded up or made less tedious. You discover these connections by researching – which is essentially about asking the right questions of the right people.
So, an effective and well-articulated Value Proposition is one where you can connect a customer need or want with a product attribute to ‘solve’ a problem. This is similar to the more traditional way of distinguishing between features and benefits. Both techniques are effective, but the Strategyzer tool is a really good way of brainstorming, collaborating and then distilling. It’s great for teams and freewheeling interaction and a bit less linear and cerebral than traditional feature and benefit analysis. Feedback I’ve had when using this in training and consultations is very positive. Like all good tools its very simple to use and grows with you.
Whichever you use, the key point is that the sole arbiter of value is the customer. If the customer doesn’t ‘get it’, you are stuck. Hence the need to spend as much time and effort a you can on understanding your customer. If you are an ‘ideas person’ or ‘creative’, you will need to balance this with getting out there to reality-check that your ‘big idea’ resonates with the people you are hoping to sell it to. And with a nod to Agile principles, the sooner you do that, the better.
The Value Proposition then becomes the touchstone for your promotional activity. The customers you seek out, the stories you tell, the buttons you press, the way you present the product: ultimately the brand personality and ‘tone of voice’ too.
Hopefully you get the picture. The Strategyzer tool opens out to support a wide range of activities and considerations you will need to deal with. It is good for providing structure and rigour to your thinking and actions. It’s not the only way, but you could do worse than start here.
One way or another you will need a Value Proposition as the frame for your ‘sales pitch’. By all means ‘wing it’ if you find all this too much like hard work. But if you do, be prepared for a lot of wasted effort and scratching of heads as to where it’s all going wrong.
If any of this resonates or you feel you need help to get to on your way, drop me a line here or at [email protected]