3-Minutes to a Bulletproof Value Proposition

Is your value proposition bulletproof? If not, your 2020 revenue is at risk. That’s not hyperbole, it’s a fact. You need a winning value proposition to take mindshare and wallet-share from your competition.

I’ve boiled down the textbook strategies for formulating a winning value proposition into 3 words. In this article, I put them to work in a 3-minute test. To take the test, spend 1 minute answering each of the 3 value proposition criteria described below.

Let’s take the test…

#1 VALUE

By itself, it’s a vague and ill-defined term. Let’s define it and pose it as a question.

Does your product directly translate into value for buyers?

In one sentence, describe the connection between your product offering and the value it creates for customers. If you’re struggling with your answer, let me ask the question a different way.

Do buyers ever say your solution is too expensive? That’s a red flag. They are not seeing a direct connection to value. If this is one of the reasons you lose deals, address this before you tackle anything else.

#2 ESSENTIAL

I’ve heard many salespeople ask themselves the following question…

Is your product a “Must-Have” or just a “Nice-To-Have”?

This is an excellent way to evaluate the level of pain-relief your solution provides to customers. Are you blessed with a “Must-Have” product? Or, are you cursed with a Nice-To-Have” product? Ask yourself the following question.

Did you ever lose a deal to “No Decision”?  If so, that’s a strong symptom of the “Nice-To-Have” curse. If you suffer from this curse, take steps to reverse it.

#3 DIFFERENTIATED

To be completely bulletproof, you must meet the 3rd criteria of this test. You need to give buyers a reason to buy from you.

What’s your “Secret Sauce? What makes you special or unique?

Unfortunately, you can have product value that’s essential to buyers and still lose the deal. Particularly, if you’re not different or unique. If you think you have differentiated value, ask yourself this question.

How often do you lose to the competition and why did they win? Answer this question and you will win more often.

Differentiated Essential Value

The above 3 criteria represent the Differentiated Essential Value of your commercial offerings for your target markets. Strengthen each one individually to maximize the power of your value proposition. Your value proposition sits at the top of the entire messaging hierarchy. It’s the single-most-important element of your 2020 sales and marketing success plan.

How Did You Do?

Are you bulletproof? If not, you now have the knowledge to strengthen your value proposition. Remember, this simple exercise doesn’t eliminate the “science” that goes into effective messaging. By science, I mean a solid target market analysis, detailed buyer persona, and customer journey map. All culminating in a comprehensive messaging framework.

I’ve packaged my own framework for use as an Executive Marketing Roadmap for non-marketing business leaders. It’s a simple and strategic approach you can follow.