how to build a value proposition that generates leads
DESCRIPTION
Building a value proposition can often be difficult – “What should I say that grabs the prospects attention and quickly tells them what I have to offer?” This is tricky because there is usually so much to say. And our natural instincts usually pull us in the wrong direction leading us to talk mostly about our products and features. That is not VALUE. This task is no longer an issue with this presentation. It will provide you with a methodology that gets to the key value that you offer and then helps you to use that to build out powerful value proposition statements.TRANSCRIPT
How to Build a Value Proposition that Generates Leads
Michael Halper
Founder and CEO
SalesScripter
Traditional Messaging
Traditional Messaging
Traditional Messaging
What is wrong with this picture?
• We are all a little self-serving and this caters more to our interests than the prospect's• A prospect might not care yet about your company and all the great things it has
going on• A prospecting might not really understand what your product/service is and does• This does not build interest, curiosity, and intrigue• It does not tell the prospect how you can help them• This can trigger guardedness – “Uh oh, sales person trying to sell something”
Ben
efit
s
Why do we do this?
Pro
du
ct
Co
mp
any
Fea
ture
s
Fu
nct
ion
alit
y
What we say when talking with prospects
Very inward focused – me, my product, my company
• Foundation of knowledge• Focus of training• Wealth of experience• Where we have interest• What leads to us getting
paid
• Introductions• Cold calls• Emails• Networking• Company website• Social media• Presentations
It is what we are trained to do
Inte
rest
An Alternative ApproachV
alu
e
Pai
n
Qu
alif
y
Cre
dib
ility
Ob
ject
ion
s
Prospect Focused
What we say when talking with prospects
• Get outside your comfort zone
• Identify how you help • Focus on the problems
that you solve
• Introductions• Cold calls• Emails• Networking• Company website• Social media• Presentations
What is Value
• Transfer of an intangible attribute from one party to another that has a positive net worth
• Could be at a personal level:– Making someone laugh– Teach someone how to do something– Being a good listener– Providing security– Making someone’s day easier
• At a business level:– Helping a business to save money– Helping a business to make money– Proving valuable information– Making someone’s day easier– Helping to save time
• It is not your product, it is what your product helps your clients to do or to achieve
Three Levels of Value
Technical Value
• Processes• Systems• People
Automation of manual processesImprove performanceDecrease time to perform workImprove reliability
Business Value
• Revenue• Costs• Services
Improve revenue / market share / close rateDecrease cost of goods sold / labor costImprove delivery of services
Personal Value
• Income• Career• Workload
Increased bonuses, commissionsRecognition and promotionsDecreased/increased workload
Why Value is Important• Improves your ability to get the prospect’s attention
– Communicating in a language the prospect understands– Shifts from an “all about me” approach to “all about them” approach– Talking to prospects that might not be in shopping mode– Gives the prospect a reason to listen
• Greatly improve the impression that you make– Seem more knowledgeable, polished, experienced– Stand out from the average sales person
• Improves ability to build the prospect’s interest
How to Communicate Value
Shift from Products to Benefits
Mobile PhoneEnables you to make calls
from anywhere
CarEnables you to easily and
quickly get to your destination
Portable Music Device
Enables you access a library of music from anywhere
Products Benefits
Identifying Your Value
Step 1: Identify a product / service, or featureProduct / Service
or FeatureFunction Technical Value Business Value Personal Value
Auto inventory replenishment
Identifying Your Value
Step 2: Identify what your product doesProduct / Service
or FeatureFunction Technical Value Business Value Personal Value
Auto inventory replenishment
Automatically submits orders to vendors based on inventory levels
Identifying Your Value
Step 3: Identify how that helps from a technical perspectiveProduct / Service
or FeatureFunction Technical Value Business Value Personal Value
Auto inventory replenishment
Automatically submits orders to vendors based on inventory levels
Decreases time spent ordering
Identifying Your Value
Step 4: Identify how that helps from a business perspectiveProduct / Service
or FeatureFunction Technical Value Business Value Personal Value
Auto inventory replenishment
Automatically submits orders to vendors based on inventory levels
Decreases time spent ordering
Decreases staff and labor costs
Identifying Your Value
Step 5: Identify how that helps from a personal perspectiveProduct / Service
or FeatureFunction Technical Value Business Value Personal Value
Auto inventory replenishment
Automatically submits orders to vendors based on inventory levels
Decreases time spent ordering
Decreases staff and labor costs
Improves work life balance
Identifying Your Value
Step 6: Repeat for additional products Product / Service
or FeatureFunction Technical Value Business Value Personal Value
Auto inventory replenishment
Automatically submits orders to vendors based on inventory levels
Decreases time spent ordering
Decreases staff and labor costs
Improves work life balance
Predictive demand forecasting
Predicts inventory needed based on historical data
Increases ordering accuracy
Decreases inventory costs
Improves end of year bonus
Management dashboard
Provides visibility across inventory and orders
Decreases time gathering information
Improves decision making and bottom line results
Improves promotion options
Identifying Your Value
Step 7: Summarize to arrive at your core valueProduct / Service
or FeatureFunction Technical Value Business Value Personal Value
Auto inventory replenishment
Automatically submits orders to vendors based on inventory levels
Decreases time spent ordering
Decreases staff and labor costs
Improves work life balance
Predictive demand forecasting
Predicts inventory needed based on historical data
Increases ordering accuracy
Decreases inventory costs
Improves end of year bonus
Management dashboard
Provides visibility across inventory and orders
Decreases time gathering information
Improves decision making and bottom line results
Improves promotion options
Inventory management software
Manages inventory levels and orders
Improves the ability to manage inventory
Decreases inventory and labor cost
Improves compensation potential
Creating a Value Statement
Incorporate a Value Statement
A statement that concisely summarizes how you help your clients.
Product Introduction Statement:We sell a web-based project management software solution that is easy to use and designed specifically for the construction industry.
Value Statement:We help businesses to improve their ability to complete projects on-time (technical value) and that can often lead to a decrease in costs (business value).
Creating a Value Statement
Value Statement Pitfalls
Company Description
I am with Alter Voice. We are the leading provider of telecommunications and have the most reliable wireless network.
Products / Feature Focus
We have a full portfolio of heavy duty tractors. Our equipment is construction grade and has a five year warranty.
Getting too Fancy
We are the industry leading provider of pipe connection solutions. Our cutting edge solutions help to unify ventricular flows to optimize strategic liquid placement and transportation.
Creating a Value Statement
Short and Sweet Template
We help businesses to [insert technical, business, or personal value].
We help businesses to improve their ability to effectively manage their inventory levels.
We help businesses to decrease cost of goods sold and administrative time.
We help VP’s of Operations to hit there quarterly productions targets.
Creating a Value Statement
Connect Technical Value with Business Value Template
We help businesses to [technical value] and this often leads to [business value].
We help businesses to improve their ability to effectively manage their inventory levels and this often leads to a decrease in cost of goods sold as well as administrative time.
We help businesses to decrease in cost of goods sold as well as administrative time and do this by improving their ability to effectively manage their inventory levels.
Creating a Value Statement
Connect Technical Value with Personal Value Template
We help VP’s of Ops to [technical value] and this often leads to [personal value].
We help VP’s of Ops to improve their ability to effectively manage their inventory levels and this often leads to them being able to consistently hit their quarterly production targets.
We help VP’s of Ops to consistently hit their quarterly production targets and do this by improving their ability to effectively manage their inventory levels them being able.
Creating a Value Statement
Connect Business Value with Personal Value Template
We help VP’s of Ops to [businss value] and this often leads to [personal value].
We help VP’s of Ops to maximize the production capacity and this often leads to them being able to consistently hit their quarterly production targets.
We help VP’s of Ops to consistently hit their quarterly production targets and do this by improving their ability to maximize the production capacity.
Creating a Value Statement
Connect the Product with Value Template
We provide [insert product] and this helps businesses to [insert technical, business, or personal value].
We provide inventory management software and this helps businesses to improve their ability to effectively manage inventory levels.
We provide inventory management software and this helps businesses to decrease their cost of goods sold and decrease administrative time.
We provide inventory management software and this helps VPs of Ops to consistently hit their production targets.
When to use a Value Statement
• In any introduction– Networking– Cold Call– Presentation
• Responding to objections– What is this call in regards to?– Is this a sales call?– Are you trying to sell something?
Take it to the Next Level
Apply an industry focus
We help businesses to improve their ability to effectively manage their inventory levels.
Replace “businesses” with an industry label
We help manufacturers to minimize production interruptions.
We help retailers to minimize any product shortages.
Take it to the Next Level
Apply an organizational level focus
We help businesses to improve their ability to effectively manage their inventory levels.
Replace “businesses” with an title
We help operations managers to minimize product order errors.
We help VP’s of operations to maximize the production output.
Take it to the Next Level
Apply an department focus
We help businesses to improve their ability to effectively manage their inventory levels.
Replace “businesses” with an department label
We help VP’s of operations to maximize the production output.
We help VPs of finance to have more visibility in the per piece average unit cost.
Key Takeaways • Communicate value to get a prospect’s attention, make a better impression,
and communicate more effectively
• Value is not your product, it is what your product helps the prospect to do
• Identify the different types of value that you offer
• Create a value statement that clearly and concisely explains the value that you offer
• Use your value statement to make introductions more powerful
• You can get more granular by focusing on industry, title, department
• Use your value statement to redirect objections
SalesScripter
www.salesscripter.com
What do you sell? ___________
How does it help? ___________
What problems do you fix? ___________
What questions should you ask? ___________
1. Asks all the key questions 2. Maps answers to document library
If You Want More Help• Books / Ebooks
– The Cold Calling Equation – Problem Solved– Do’s and Don’ts of Cold Calling– How to Get around Cold Call Objections– How to Build a Value Proposition that Generates Leads– How to Build Sales Campaigns that Sell
• Videos – Dozens of how to videos and slide decks
• 10 week web-based training program
• One-on-one sales coaching and consulting
• SalesScripter– www.salesscripter.com – Walk-through services available