How Do You Create Value?
This apparently simple question may well be the most important one you will ever be asked.
Without a compelling value proposition, you are ordinary and disposable — a commodity. With a distinguished value proposition, you are unique and indispensable.
What is a value proposition?
A value proposition statement summarizes the reason why a potential customer should buy your particular product or service, how it exceeds that of your competition, and why it is worthy of the price they must pay.
The ideal value proposition is concise and appeals to the customer’s strongest decision-making drivers. It is an irresistible offer, an invitation that is so compelling and attractive that the customer would be out of his or her mind to refuse your offer.
Research indicates that most professionals do not have the value proposition in the form of a clear and concise statement that explains the tangible results their customers will receive, the unique benefits they bring to bear that others cannot. A differentiated value proposition goes beyond functional product or service descriptions to express the results a consumer can expect to achieve. Most people attempt to sell a product or service without focusing on customer benefits or outcomes.
Three ways to evaluate your value proposition:
- Record and video tape your value proposition.
- Replay practice and perfect.Assess consumers’ ability to understand and appreciate your value proposition.
- Research the degree to which your value proposition is different from others in the marketplace.
How do you create value? Your answer to this question has unparalleled implications in determining your future success. You’ll soon discover exactly how to create a value proposition unlike anything else in the industry today.
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