Do you wonder why, when you have this great product or service, prospects seem interested but never act? Have you ever thought how inundated those prospects are with messages from your competitors that sound just like yours? And if all the messages sound much the same, and similar to what their current provider says as well, why would they make a change? There’s no compelling factor moving them forward in the sales cycle. It’s easier to stay right where they are, with their current provider. That’s the commoditized market in which we do business today.
What are you to do? You may be in an arena where you have just a few, or thousands, of competitors. It doesn’t matter. You have to differentiate yourself from the competition to win in your arena. And a perfect place to do that in the sales process is in your value proposition and messaging.
Let’s start with a couple definitions:
Value proposition – Your value proposition is your external statement of the value you deliver to your clients. In essence, it's why they should buy from you versus your competition.
Messaging – Messaging comprises not just the written words in your marketing materials and proposals. Messaging is also what you say. Messaging happens any time a prospect sees or hears something about your company, product, or service whether in an advertisement, a brochure, a proposal, or a sales call.
So how do you go about defining your value proposition and differentiating your message?
- Write down reasons why your prospect should buy from you versus your competition. Don't just list a couple...list as many as you can think of.
- Write down those things that differentiate you from your competition. Don’t say, “nothing.” Think hard and think beyond the traditional product and service features. Perhaps you can handle larger orders than your competitor; perhaps your servicing team has much more tenure and expertise than your competition; perhaps you can customize your offering much more easily and inexpensively than your competition. The key is to identify all those things that make you different from the rest of the pack. Some of these differentiators may be the same as the items you listed in #1 - that's OK. Consolidate the two lists.
- List several of your top competitors and go down the consolidated list from and determine if, in fact, the reasons you listed in #1 are true differentiators. If not, why bother talking about them? Put stars next to those that are true differentiators.
Then create your value proposition using your strongest differentiators. Your value proposition should be a short, concise sentence that captures the essence of your differentiators versus comprising a list of them. Once you have your value proposition, test it out on some of your best clients - those who will give you honest feedback. Tweak and then message accordingly. Remember, your differentiated message is strongest when it addresses something about which your prospect really cares or something about which you can make them care. And your differentiated messaging should permeate all of your avenues for communication, whether written or verbal. That doesn’t just happen. It takes commitment and follow-through. But by differentiating your message, you will:
- Set yourself apart from your competition.
- Guide your prospects through the sales process.
- Prompt not only prospect interest, but action.
Do you want to have a “me too” message or a message that truly stands out from the crowd? Investing in creating a differentiated message helps ensure you are seen not as a commodity, but as a true partner that can help your prospects succeed.
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