8 Characteristics of a Winning Value Proposition
By Shane Gibson
Being able to develop and write a winning value proposition is key to attracting customers and setting your organization apart from the competition. It clearly communicates the unique benefits of engaging you and your organization as a vendor of choice. When your ideal prospect hears your value proposition its real purpose is not to sell but to start the conversation. You know it has landed well when the other person says “Tell me more about…”
Following are the 8 Characteristics of a Winning Value Proposition:
1) Write your Value Proposition for your ideal stakeholders:
Tailor your value proposition to your ideal stakeholders by understanding their needs, preferences, and pain points. It doesn’t have to appeal to the entire marketplace, it just has to speak to your ideal clients and prospects. Align your proposition with their specific requirements to ensure it resonates with them. Market research, surveys, or interviews can provide valuable insights into your target audience and help you create a customer-centric value proposition.
2) Explain what’s in it for me ROI/ROR (return on relationship):
A successful value proposition must clearly communicate the benefits of your product or service, as well as its return on investment (ROI) or return on relationship (ROR). Showcase quantifiable and tangible benefits that stakeholders can expect from your offering. Use real-life examples or case studies to demonstrate how your product or service has positively impacted customers or partners, thereby reinforcing its value.
3) Explains what is unique about your organization:
To stand out from competitors, emphasize the unique aspects of your organization in your value proposition. Identify what sets you apart and ensure it’s conveyed effectively. This could include your innovative technology, outstanding customer service, or an exceptional product lineup. By highlighting your unique selling points, you will differentiate yourself from competitors and make your value proposition more attractive to potential customers.
4) Establishes credibility:
Build trust with your stakeholders by establishing credibility in your value proposition. Incorporate testimonials, endorsements, certifications, or industry awards to demonstrate your organization’s expertise, reliability, and proven track record. Additionally, share your organization’s history, achievements, and mission to further enhance credibility.
5) Measurable:
Make your value proposition measurable by providing concrete evidence of the benefits your product or service delivers. Use data, statistics, or case studies to quantify the value you bring to customers, making it more convincing and easier for stakeholders to understand.
6) Memorable:
Create a memorable value proposition that sticks in the minds of your stakeholders by using clear and concise language. Keep it simple and avoid jargon, focusing on the most important benefits your organization offers. A memorable value proposition will help your organization stand out and be more easily recalled by potential customers.
7) Creates a sense of curiosity, fun, or engagement (bonus):
A value proposition that sparks curiosity, fun, or engagement can be a powerful tool to attract and retain customers. Consider incorporating elements that evoke emotions, tell a story, or invite interaction. This can make your value proposition more relatable and enjoyable, ultimately leading to stronger connections with your audience.
8) Less than 45 seconds:
A winning value proposition should be succinct and easily digestible. Aim to communicate your message in 45 seconds or less. This brevity ensures your stakeholders can quickly grasp your offering’s value and makes it more likely they will remember it.
Developing a winning value proposition is crucial for attracting customers and differentiating your organization from the competition. At every step in the sales process great salespeople look for opportunities to reinforce and communicate their unique value proposition.
By following these eight steps, you can create a compelling, customer-centric value proposition that resonates with your target audience and drives success for your organization.
