Does your company have a value proposition? Chances are that it does. And chances are that you can’t recite it. This is a universal problem with value propositions. They’re usually created in a vacuum (or conference room) with little regard as to how they work in the real world.
Do your customers even care that you have a value proposition? They will if the benefits are clear to them, but this is where it breaks down…
Companies haven’t taken that next step to connect their value proposition to the needs and desires of their customer base. A value proposition should be a living document that adapts to the myriad needs of a customer base. All too often, value propositions are self-gratification exercises that mean little to customers who want to understand WIIFM (What’s In It for me?). However, companies that truly live their value propositions realize better financial performance than companies that merely created one to satisfy an internal goal. Intelligent leaders know that customers are smart and will tune out any message that does not demonstrate a clear benefit.
We don’t train our front-line employees to quantify the benefits of our value propositions. This is a missed opportunity to enhance your margins, profits, and your relationship with your most important accounts. Take the time to connect elements of your value proposition to the customer’s needs, both expressed and unexpressed. Your bottom line will be glad that you did.