Is Your Value Proposition Strong Enough?
If you are struggling to get appointments with top level management, you probably have a weak value proposition.
Your vague statements about how creative you are, and how you can save them time and money, are likely the root cause of your large account entry problems.
Maybe it is time to change what you are saying and clarify your value proposition.
But what exactly is a value proposition? And how is it different from the other commonly used statements?
Before we answer that question let's talk about your "Elevator Speech" and your "Unique Selling Proposition."
An elevator speech answers the question: "What do you do?"
Example: We help businesses advertise and promote themselves more effectively.
A unique selling proposition answers the question: "How is your company different from other vendors?"
Example: We are trade show marketing specialists.
A strong value proposition answers this question. "How, exactly can you help my business?"
Example: After working with my firm one of our clients increased trade show both traffic by 73% and improved their lead conversion rate by 32% by using our trade show marketing plan. Would you like to know how we did it?
Weak value propositions are very common and do not help you set meetings with top level management in large accounts.
Example: We offer one-stop shopping, from staff shirts to executive gifts; we can meet your every need for promotional products.
To this statement top buyers say: "Boring! So What? Why should I waste my valuable time talking to you?"
Most salespeople can tell you what they do for a living but they can't tell you the difference promotional products make for corporate buyers.
The value they bring to their clients may be high but their inability to articulate that value keeps them from getting in to large accounts and meeting with top decision makers.
A strong value proposition is a clear statement of the tangible results your customers get by using promotional products. It should be focused on outcomes and demonstrates your value as a trusted advisor.
A strong value statement also needs to be specific, using numbers and percentages to prove your value.
Example: We helped one company save over $253,000 in medical and hospital expenses incurred because of unsafe work practices by their workers. Not to mention the $112,500 of lost productivity due to "Recordables" and "Lost Time Accidents."
Top management decision makers will set meetings with you if you focus on these three areas and give specific, quantifiable examples of how you can help them: Increase Revenue, Reduce Expenses, and Minimize Risk.
Corporate decision makers will nearly always meet with you if you speak their language. Focus on helping them achieve their objectives and always talk about tangible business outcomes.
Action Step: Craft a telephone script, business letter and your "Core" message about how you can help your clients achieve measureable results by using promotional products in their business development programs.
Remember, promotional products and the services you provide are simply tools that buyers need to produce the results they desire for their organization.
Best of Success!
Dale Limes, MAS, is Senior Vice President of Sales for HALO Branded Solutions. He is an industry veteran of 27 years, a frequent trainer at industry events, and consults with distributors at every level to help increase sales and efficiency.