There cannot be anything more important and fundamental to a business than its sales proposition. This is the whole purpose and crux of any company and what it has to offer its target market. But the key is to be able to offer an effective proposition that will lead to the success of the business. This therefore means that the offering has to be considered by the company, of value to its customers, and critically, the preferred choice over the competition.
Below are our top tips to consider when creating an effective sales proposition for your business:
1. Define your target market – Who are your key demographic group or groups? What do they have in common? What are their priorities? What is important to them? And essentially, what do they want that your product/service can provide? When you’ve found the common dominator which ties the group together, then you can build your solution that will meet their need.
2. Solution offering – What are you selling and how does it fulfil a need? It’s so much more effective to sell the solution rather than just pushing the product. It would be ideal to find a need which currently does not have a solution offering. If this is not the case, then it’s important to find the unique selling point to help push your business, see point 4.
3. Benefits – This is your company promise of how you can be of true value to your customers. How can you convince your audience that your product has real worth and significance which can make a positive difference to them? Tangible results are always a great way to measure how you can add real value.
Econsultancy list their five product values which can to be of true benefit to the customer: http://econsultancy.com/blog/4380-five-must-use-sales-value-propositions
4. Superiority – So, your customer understands what you sell and how it can help them. The question now is why should they choose your product over the companies selling similar products? What is your competitive edge and how are you outperforming rival companies? This can often be difficult especially in a busy or crowded market. The important point is to make sure that whatever your unique selling point is, it’s something that is of real importance to your customers. There is absolutely no point in being different for the sake of it. It must have significance and impact which resonates with your customer, so that they believe and decide you are the company of choice.
5. Statement – Time to pull all the above together in one clear and concise statement. This should be the first thing any customer could see or read and learn about what your company provides. It should draw the interest of your audience and use the appropriate language for your customers to understand.
Here are a few good examples of sales proposition statements which include what the product solution and benefit and tangible outcomes:
* Our products help people leverage the internet to triple their market reach and cut marketing costs in half when launching new products.
* Our clients grow their business typically by a minimum of 30-50% over the year while cutting costs by 35%.They accomplish this without working 80 hour weeks and sacrificing their personal lives.
* We help large companies reduce the cost of their employee benefits programs without impacting benefit levels. With the spiralling costs of health care today, this is a critical issue for most businesses. One of our recent clients, a large manufacturing company similar to yours, was struggling with how to reduce spending in this area. We saved them over $800,000 in just six months. Plus, they didn’t cut any services to their employees, nor did their employees have to pay more.
Here is a link to see more great examples using visual images – 10 value propositions you wish you had: