Create a Winning Value Proposition – BV3

 

Value-based selling is comprised of several elements that make up a winning value proposition. These are discussed in the upcoming briefings.  

 

Value Exploration 

Once you’ve identified a specific account target, you will need to explore the potential value you and your solution can deliver. 

 

First you want to do some preparation to understand the customer’s situation. Learn about their current performance, their profitability, their growth, and key initiatives. Then work to uncover their key business challenges and their key strategies to address those challenges. 

 

When Your Target Company Is a Public Corporation, you can gain a lot of great information by accessing the company’s quarterly (or annual) reports, and investor presentations. These documents contain a section titled “Management Discussion and Analysis of Financial Condition” as well as one titled “Risk Factors” to describe potential challenges and risks the company is facing. 

 

When Your Target Company Is Privately Held, you can still get good information about the company’s status and initiatives from its social media feeds, online presence, press releases, and business-related websites.

 

Turn the relevant information into a powerful message describing how your solution will deliver greater worth and provide substantial business benefits to your customer. 

 

Develop three new ideas for how results can be increased for consideration by your customer. Be sure to:

  • Make these ideas as specific and as innovative as possible. 
  • Avoid mimicking ideas that appear in your competitor’s brochures. 
  • Don’t focus on your solution’s features and functions. Instead, focus on articulating exactly how your solution will help solve your customer’s problems and deliver needed benefits. 
  • Highlight areas where you have strong differentiators. 

 

Providing these ideas is an early step in building the confidence that will lead to a productive and mutually beneficial business relationship.

 

I’m DJ Sebastian, and we will continue this discussion on creating customer value in the next briefings. 

 

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