RAINMAKERS
Is There Any Value In
Your Value Proposition?
By Dr. Clifford Ferguson
I
n the course of my work with all
manner of professional service firms, I
hear a very common lament. "We are
becoming a commodity. The prospects just
seem to buy on price. We are really good.
How can I possibly separate myself from
the crowd?"
My usual response is, "What can make
you special? Why are you different?"
The client's usual response: "Well, we
have great people (I hope so). We are
customer-focused (that's nice). We
provide valuable solutions to support
our clients through industry focus and
excellent methodologies that build off our
100 years of experience and on and on and
on. Just let me tell a prospect about our
services and he will surely want to work
with us."
The problem is that all these comments
are from the service provider's perspective.
At no time has anyone mentioned what
problem the prospect is trying to solve or
what goals he is trying to reach. Naturally,
the prattling of the service provider falls
on deaf ears. To paraphrase an old saying,
"Value is in the ear of the beholder."
So how do you develop a value proposition
that offers value and, just as important,
generates leads, meetings, and new
clients?
Before we answer that question, let's define
value proposition. A value proposition is a
compelling, tangible statement of how a
company or individual will benefit from
using or engaging your services. No more,
no less.
Five Tips To Communicating
True Value
If value is in the ear of the beholder,
then listen to your own words from the
prospect's perspective and realize it's all
about what they are buying, not what
you are selling. The following guidelines
If you already have clients, then ask them why
they decided to work with you in the first place.
What is it that made you distinct in their minds
when they chose you? What benefits did they
gain from the work you have done? How would
they describe your work to a colleague if they
were to recommend you?
will help you ease the transition into the
prospect's world.
Start With Needs: Why do clients engage
your services? It is not because they want
services such as an audit or training or
24/7 computer support. It is because
they need to keep the tax man happy;
they need more skilled customer service
representatives which, in tu rn, give them
happier customers; they need to sleep
better at night knowing their computers
are running. Think in terms of what client
needs you can fill, not what services
you can offer. Prospects may not always
understand what your services are all
about, but they certainly will understand
how relieving their pain or reaching their
desired future will help.
Ask Your Clients: If you already have
clients, then ask them why they decided
to work with you in the first place. What
is it that made you distinct in their minds
when they chose you? What benefits did
they gain from the work you have done?
How would they describe your work to
a colleague if they were to recommend
you? (If you don't yet have clients, find
potential clients and ask why they buy
your type of services.)
Listen carefully to your clients' answers.
Listen for key words or phrases that are
used frequently. Listen for the real hot
button needs that evoke strong emotion
or conviction.