In one sentence, try to answer this question: why should your prospects choose you over your competitors?
Did you draw a blank?
Did you say “because we’re the best”?
Would you get a different answer from your colleagues?
If so, your biz-dev isn’t close to its full potential.
To give your prospects a reason to buy, you need to show them your unique value—the benefit they receive from your product or service... that they can’t find anywhere else. That statement is called your Value Proposition.
As we discussed at our June session of Business Wise Insiders, there are a few strategies you can use for crafting a Value Proposition that sets you apart and motivates your prospects to act.
Among other things, we talked about two specific questions that can help put a fine point on your unique value:
“What’s in It for Me?”
Your prospects don’t care about your product or its fancy features. They care about their own problems, challenges, and priorities.
When your Value Proposition clearly articulates how you help your prospects solve problems and address priorities, you provide a compelling reason to act.
To better communicate the benefit your customers receive from your product, apply the “What’s In It For Me?” filter.
For every claim you make about your product, pretend your prospect then asks you “OK, but what’s in it for me?” Your answers will resonate a lot more with your prospects, and provide a roadmap for how to talk about your product.
“Can My Competitors Say the Same?”
If you don’t stand out from the crowd, your prospects have no good reason to choose you over your competitors.
When your Value Proposition demonstrates your unique value, you narrow your prospects’ choices and focus the conversation on a solution that only you provide.
Chances are you’re making some of the same claims about your product as everyone else—and that does nothing to set you apart.
Take your website, for example. Does it say things like “We offer the best customer service!” or “We’re the industry leader in XYZ!”? Can’t your competitors say the same thing? You need to offer something different in order to be truly valuable.
To ensure your Value Proposition truly communicates your unique value, ask yourself “Can my competitors say the same thing?”
If the answer is “yes,” don’t include that claim in your value proposition… or better yet, figure out how to rephrase it so that it does communicate unique value.
And as always, if you’re looking to meet and share ideas with other smart sales reps in Atlanta, Charlotte, or Dallas-Fort Worth, join us on the second Tuesday of every month for Business Wise Insiders.