The DriveSales™ | How to use sales and analytics to create a great value proposition in marketing!
Sales is an ever-growing domain with constantly increasing competition. You have to up your game in order to make a mark in this industry. You need to find your unique selling point (USP) that makes you different from your adversaries and sets you apart from the crowd.
Your value proposition is that magical strategy, that can make you shine amongst several others. It is the core of your sales and will set the basis for your competitive advantage. With the help of your value proposition, you can clearly set a benchmark for your business and others in the same domain.
If there is one strategy that will impact your conversion rate the most, then that is the value proposition. A great value proposition is probably what you need to convert a losing deal into a winning deal.
So, let’s see how to go about writing a value proposition that is impactful enough to raise your conversion rates.
The first step is to learn what is value proposition and how it is useful for your business. The value proposition is the promise or deal of value that a prospect can expect you to deliver. It does not just refer to pitching your product to your customer, it means that you will be providing an effective and unique solution to your client that your competitor cannot offer.
You can very well say that value proposition is the sugar of your sweet-dish It is what will make you stand out and will give you an edge over the others. Without it, your buyers won’t have any valid reason to opt for your product or service amongst many others.
Now, let us see how to use sales and analytics to create a wonderful value proposition.
1) Identify your prospect’s problem — The first step of yours will be to dig deep into your client’s problem. You will need to do a lot of upfront research to be able to find the actual root cause of the problem. Try various methods and use the previous data of your client to gauge the right problem. Ask questions to your client and analyze patterns in your client’s past experiences.
2) Gauge the benefits of your product — The next step will be to find out how your product or service will help the client Keep a check of the fact — will your product help the client in any way. List out the benefits of your products and comprehensively match them with your client’s requirements.
3) Explain the value of these benefits — Another important step will be to explain how this benefit will relate to the problem of your client. Check the effectiveness of these benefits in regard to your client’s problem. Gauge the importance of these benefits and try to extract what value are you providing your client with each benefit with respect to your product or service.
4) Analyze if the value aligns with your client’s problem — Now comes the turn of checking whether the value is what your client precisely needs. Try to eliminate the queries that might arise in the minds of your clients.
5) Explain why you should be preferred — In this last stage, you need to structure and polish your value proposition to make it extremely innovative and unique. Try to find if you are in competition with some other business and keep pointers ready as to why your value should be preferred rather than your competitor’s.
Now, as an effective SALESPERSON! We can do three things from here.
1. Not ignoring the opportunity and blaming the situation for revenue loss.
2. Taking important notes and going back to revisit your sales strategy with the growth mindset.
3. Reaching out to The DriveSales™ if you need any specialized help for sales.
To conclude, what you choose to think also provides some idea of your development as a consultative salesperson. It is something like Jeffrey Gitomer quotes “Great salespersons are relationship builders who provide value and help their customers win.”