Crafting a Compelling Value Proposition
Updated: Oct 23
Welcome to the 3 Points Rising Value Proposition series. In this and the next 4 articles, we’ll cover some of the most compelling ways business can provide value to their clients. While you may have a solid grasp on your capabilities and perhaps your primary value to clients, we’ll cover a broad array of possibilities for you to add to your value proposition canvas. We’ll cover ideas for saving your clients money, for saving them time, increasing their sales and lastly, reducing their risks. We’ll unpack each to learn what has worked for others in the past to help you find all the value you can offer your clients, perhaps in some unexpected ways.
Selling is a costly business best done efficiently. While it’s common to build a B2C business with a single digit conversion rate, it’s far more efficient to have a much higher close rate. B2B businesses, especially, can often attain close rates of 50-80%. This occurs when a sales team knows part of the client’s business better than the client does and can deliver unique value unattainable elsewhere.
Four Dimensions of Value
To drive sales efficiency, we’ll explore many elements of value, some of which are proven to shorten sales cycles, reduce discounting and increase referrals. Long sales cycles, low conversion rates or high sales staff turnover are all symptoms of deeper issues. At worst, these issues can raise existential questions about a business and investors always focus on sales pipeline dynamics. To avoid these pitfalls, it’s important to have a foundation of understanding of your customers, what value you create for them and why they should buy from you. In this series, we’ll unpack the 4 dimensions of value you can offer your prospects. You may not even need to change your product to offer some new elements of value. You may have unrecognized value because the client’s issues are not completely understood or because how they perceive your offers is not very clear. Client’s will find value in your offerings in one or (hopefully) more of the following dimensions around your prospect’s needs.
In each reading we’ll unpack the importance of offering value in this area, some ways in which companies can add value in each dimension and some key take-aways for your Go-To-Market strategy development efforts:
Each article delves into the dimensions of value you could offer and explores how others are already addressing critical customer concerns.
Efficient sales operations and efficient use of capital both hinge on a powerful value proposition. By focusing on saving money, time, and expanding opportunities while minimizing risk and eliciting the right emotions, professionals can build compelling cases for their offerings.
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