Tuesday, 23 November 2010

Compelling Value Propositions

Creating a Compelling Value Proposition (CVP)

When selling most people describe the nuts and bolts of what they are selling:

“Our new car has a turbo charged high bypass engine with lightweight fly wheel and new polywhatsitmebob covered chairs”

How you should sell is:

You will benefit from unrivalled acceleration and fuel consumption lowering your running cost whilst being sat in a new chair clinically proven to reduce back pain in our new car”

Which one would you buy?

Whether you are trying to secure that bit of variable works or wining a new bid, expressing your value proposition is one of the most important activities you should engage in. Your value proposition is your promise of performance and value. It is expressed in a short statement that is aimed at creating and occupying a space in your prospects’ mind called “best buy for this type of problem.”

Here is a link to a guide on creating a value proposition for what you are selling.  It is very useful and I would recommend you read it and test it when getting approval for variable works or trying to summarise your bid to a new customer.

In summary when you write your CVP follow this structure:

As a result of our (offerings – outcomes and benefits),
customers (profile – your target audience)
who are facing (compelling reason to act – state the problem)
will (do, experience – what is the primary result/benefit?)
for (investment cost – what will it cost?)
and enjoy (benefits, return) within or by (time)
compared to (alternatives) the advantages of using our offerings are (advantages)
To improve the experience for all users, customers will (engagement – any consequential benefits?).

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