Imagine you are on a call with a prospect. You have a solid product or service with multiple value propositions. It can do many amazing things for its customers. Let us imagine that the time has come when you are on the call with your prospect when you wish to present it. What will be your biggest concern? It is about how you will powerfully connect your value proposition with prospects.
We have come across hundreds of business development executives who will talk for hours about what all their products or service can do, only to get their prospects sleepy! If you see this happening with you frequently, use it as a signal that it is not creating a pull. It is not relating to your prospects. It is time to change your approach.
What is a value proposition?
A value proposition refers to the value a company promises to deliver to customers should they choose to buy their product. – Investopedia
If you carefully look at this definition, you will realize that it is less about your features and benefits.
It is more about what your product or service can “do specifically for a customer“, that he/she will find beneficial and impactful.
What is a common big mistake by sales reps when presenting value proposition to prospects?
They tend to talk about all the features and benefits that create value from their services.
Imagine this – Do you find all the features and benefits of your smartphone attractive or even useful?
Your smartphone has literally hundreds of benefits and things you can do with it.
But you find just 2-3 things that you love the most about it, of the top of your head.
It is the same about your products or services.
Also, imagine if someone described you 20 benefits of your smartphone, will you feel enthusiastic or overwhelmed?
You also overwhelm your prospects when you bombard them with benefits that don’t matter to them. It turns them off and creates a disconnect in a sales conversation.
So how should you use these value propositions in your sales call?
This gets tricky especially when it is a cold call when you want to make the conversation more interesting for your prospect.
So the first thing you should remember is this –
It is not about presenting every single value proposition. Your value propositions will powerfully connect only if they matter to your prospect.
4 Question that help you choose a specific powerful value proposition for prospects
Ask the following questions to yourself, even before you jump on the sales call or when you are engaged in a conversation with your prospective customer.
1. What job does the prospective customer want to get done?
2. What are the challenges or pains that the customer may be facing?
3. What sucks about how they are getting their job done as of now?
4. Once they pay you, what can your product or service change for them specific to their current pain points?
These questions will help you find the benefits and impact of your products “specific to the customer”. Such a specific value proposition connects. It makes the prospects imagine the positive change they are seeking while going away from their current frustrating situation.
Now you are answering the most important question in any buyer’s mind- “What is in it specifically for me (not others or everyone)?”
Remember the thumb rule – Focus on one value proposition in a call.
Avoid focusing on benefits that may be less relevant or irrelevant. Avoid creating complexity with a ton of different ideas that you may induce in your customer’s mind. More does not always mean better – especially in sales!
All you need is that one bullet – that one key value proposition – which will move the needle for your potential customer. Once you figure it out, then it is all about how you introduce it to your prospect.
So do you want us to write about, how to introduce your value propositions to your prospects?
Can you use questions effectively to drive your customers towards – “what is in it for me”?