Give your employees the 3-point strategy they need to drive sales

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Your employees’ job is to motivate shoppers, but employees also need the right tools to succeed. In today’s competitive environment, a well-written value proposition fills that need.

What is your value proposition?

A value proposition is not just useless information about your company, products or services. It is a statement about the results that a person or group can expect from working with your company.

A company’s value proposition is at the center of its business model. It is a promise that the organization makes to its customers about the value of its products and/or services. A value proposition should be simple, but powerful and clear. A compelling value proposition strategically examines the factors that influence customer focus and overall business ambition and sets expectations. You serve both your customers and your employees by setting their expectations. Guiding employees through setting these expectations helps ensure they understand your company’s standards and gives them something substantial to aim for in terms of product quality, service, etc.

Your value proposition guides your strategy

A value proposition is a critical component of your strategy rather than just a feature of your marketing plan. It should provide three critical benefits:

  • Functional benefits: This is how your product works. These benefits tie your offer to the outcome the customer wants.
  • Benefits of product attributes: This is what makes your product stand out. These benefits provide a credible point to compare your offer with the offers of the competition.
  • Personal benefits: These benefits account for the emotional connections linked to the purchase decision.

The most successful value propositions will offer the customer all three types of benefits at once. It’s a promise that you plan to give the buyer a positive experience with a great product or service. Convince the buyer that your product is the best option for him and take proper advantage of how the buyer feels. For employees, an effective value proposition gives them a better idea of ​​which marketing strategies will be most effective.

Related: How to Create a High-Performance Strategic Plan

A strategy with real benefits

Value propositions examine factors that influence a variety of areas, such as customer focus or overall business ambition. So instead of viewing them as a feature of your marketing plan, build the value proposition as a strategic core for all of your operating models (e.g., decision making, finance, and resource prioritization).

Once you have a clear operating strategy based on your value proposition, you will provide the direction for everybody the interactions your employees have with your customers. Tell your sales reps exactly who is the target market, what does that audience want to get or achieve, and what is the most important thing for the audience to know about your product or service.

With this clarity, the sales team can become more efficient and productive. They can reduce operating costs, while improving customer engagement, segment reach, customer retention, market share, revenue, net profit, and market share.

Take my company, for example. I am the Chief Marketing Officer (CMO) of an investment management firm that has made our value proposition part of our deeper strategy. Our team recognized that most organizations that manage exchange-traded funds (ETFs) focus on outperforming a single financial index. However, we recognize that investors have specific long-term goals and want investment solutions based on those unique goals. We allow those goals to drive the development of all of our products. The approach simultaneously meets the needs of investors and serves as a differentiator.

Related: Do you want to increase sales? Think more deeply about what you are really selling

Determine the need to pivot

Even when employees have a clear value proposition to offer customers, they will only be successful if that value proposition is still in line with today’s markets. Put your value proposition in context by observing what is happening outside your business. Is your industry, or one adjacent to it, undergoing big changes? If so, you probably have no choice but to pivot and morph.

But how is the transformation? You will expand your value proposition or create a new one. Most companies will rationally expand their proposition until they have evidence that sticking with their core strategy is no longer safe. If you’re in an industry where digital disruption isn’t emerging immediately, you could probably get away with keeping your technology infrastructure. If your industry is already embracing new digital options, simply streamlining your work might not be enough.

Whether you’re expanding your value proposition or starting from scratch, your employees need to understand the intent and practical application of your changes. The more they understand these elements, the easier it will be for them to commit to changes in an authentic way that improves customer trust.

An essential formula

Whether you’re crafting a new strategy or tweaking your current one, the key is to define your position based on the target segment you want to dominate and the value proposition with which you intend to dominate it. The following formula can help you establish clarity:

  • Our product is for [target customers; functional] who wants [alternative to the norm or current options; functional].
  • Our product provides [key problem-solving capability; functional] that offers [product attributes; product]allowing you [key product features; personal].

A full version of the formula might read: “Our product is for first-time parents who want to better understand their baby’s emotional well-being. Our product provides AI-based emotional tracking for babies that offers biofeedback analysis, calendar charts, and predictive alerts, allowing you to use a personalized dashboard to respond and bond more deeply with your little one.”

Then, you will need to differentiate your value proposition from the others to stand out. Find ways to show that your brand offers something that the competition does not. Or explain how the service or product fills a need that no other company can fill.

Strong value propositions build strong businesses

In today’s competitive environment, you need to give your employees the tools that can drive customers to take action. And a well-written value proposition can do that. It does more than serve as a marketing hook. He runs the business and provides strategic guidance for his entire team. Give workers an idea of ​​your values ​​and goals, offering guidance. The resulting unity and efficiency set your brand apart and allow you to not only respond to, but drive customer preferences. Keep the value proposition formula offered above in your back pocket so you can adapt well and enjoy smooth sailing no matter where the market winds blow.

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