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Value Proposition is Still Key

Leadership/Strategy, Sales/Marketing / By / February 22, 2024
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In today’s business ecosystem where the landscape is continuously evolving, with new technologies emerging and market dynamics shifting at an unprecedented pace, one fundamental principle remains unchanged: the significance of a strong value proposition. Over my 25+ business career, among all the arguments about costs, quality of product/service, leadership, and so on, the companies who can articulate a clear, compelling value proposition are the ones who win the business.

What is a value proposition?  At its core, it is simply the reason why a customer should choose your product over the competition.  If you look back in my 2019 sales article, you will learn about the tri-colored flag.

 Here are some key reasons why the value proposition is still key:

  1. Consumers today are overwhelmed with choices.  The clearer your value proposition, the easier it is for them to understand the unique benefits they will receive working with you and your products/services..
  2. In competitive situations, you want to clearly differentiate why your products/services are superior to your competition.
  3. It shows that you understand your customers pains, needs, and challenges and you are not just trying to “sell” them something for a commission.
  4. It highlight any benefits that they can only receive with your products/services. 
A good value proposition is also a great roadmap for your company’s future offerings. In my companies, I keep r&d aligned with the value proposition.  Any new features or services emphasize our core value to our customers. Also be sure to make your value proposition hit home on your marketing efforts. You want one consistent message for the value you bring to your customers.

Your value-proposition remains a key to why you win or lose business. It’s the compass that drives strategic decisions, and the link to a lasting connection with your customers. It is my hope that after reading this article, you will not think of your value proposition as just another sales tool, yet it is one of your most powerful weapons in winning business.
 

Try Changing Your Lens, and looking at your value proposition through the eyes of your potential customer.  Would you be from you?.

If you would like help refining your value proposition, please reach out to me.

<I>Trent McCracken is a global business & technology consultant with nearly two decades of leadership experience as an entrepreneur and CEO of technology and software companies.</I>
Trent McCracken is a global business & technology consultant with nearly two decades of leadership experience as an entrepreneur and CEO of technology and software companies.

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