Winning business when you're not the low price
Frank Niekamp
I help ambitious leaders develop their sales management systems and people to get measurable, predictable, and profitable growth
Amongst all of your competitors in your marketplace there is only one who can offer their product and/or service for the lowest price point.?This means all other business needs to sell on value – and if you don’t have a rock solid value proposition your customers appreciate, how can you expect to win business when you're not the lowest bid?
For your sales team to win business and not sacrifice margins they absolutely must sell the value of your service or product and developing a strong value proposition can help them do this more consistently.
Value proposition - definition
Your value proposition is a clear statement of the tangible results your customer will enjoy from using your product or service. It needs to focus on the specific outcomes to clearly demonstrate the value that you provide to your customers. The more specific you can be with your value proposition, the greater your chances are of winning business when you're not the lowest price in town.
Your value proposition is a description of how your ideal target market (customer) will materially benefit from your product or service. It is a statement that demonstrates clearly defined and measurable outcomes that your customers can expect from dealing with your company.?Examples of this include a quantifiable return on investment, improved productivity or efficiency, reduced costs or attracting more customers.
Cut through the clutter and make it a compelling offer.?
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In business today your value proposition needs to cut through the noise and stand out from the crowd. To achieve this it needs to be specific and compelling. A weak value proposition will simply get lost and won’t get you in front of busy decision makers whereas strong value propositions will open doors and create opportunities.
Strong value propositions speak in business language using terms such as:
A strong value proposition also creates a sense of urgency, as there are tangible costs or losses in a delay to resolving those situations.
Frank Niekamp
Founding Partner, SalesStar USA