As many of you know, at Finka Inc., we strive to pull back the curtains and dive deep to find the true meaning and value of sales concepts and strategies, and forming a unique value proposition doesn’t fall to the wayside. Value propositions are written to define unique selling points that make your company stand out from your competitors. However, this is only one layer. A unique value proposition is so much more than what makes your product stand out from the rest. Continue reading to learn how to create a value proposition that also aligns the value you deliver, as well as your clients’ values.
What Are Value Propositions?
As stated above, it’s a sentence that depicts your brand’s unique selling points and identifies how you stand out from your competitors. It’s used in sales and marketing and acts as a beacon for brand identity. You know in The Great Gatsby when Daisy always walks to the end of the dock and looks for the green light? That’s kind of like what your value proposition is. It guides you through the choppy waters and shipwrecks of brushing up against and standing out from competition as well as content blocks for how to approach messaging and campaigns.
Here’s a value proposition example of Slack, the prominent communication software: “Slack saves time by tearing down communication and systems silos. Their product aspires to take the pain out of working together online — and maybe even make it fun.”
The Finka Inc. Value Proposition Triad
Remember how I said we strive to pull back the layers?
While value propositions often revolve around your offer’s value, there are an additional two key components that will help you connect better with clients:
- Your individual value and what you bring to the table (your personal value proposition).
- Your client’s value proposition (what your client values and inspires their purchases).
1. Your Individual Value
Your individual value proposition underlines your unique skills, expertise, personality traits, and experience you bring that no one else does. It defines how your unique skills help you sell, market, build relationships, and solve problems differently from others. (To explore how you do this in more detail, read this article about uncovering your Brilliant Difference™.)
When you know your individual value, you know how you deliver your what. Everyone does the what—they sell mortgages, mutual funds and insurance, or courses, consulting, and advice.
But what everyone does differently is the how. How do you sell? How do you build relationships? How do you solve problems? How do you get results?
Your clients get your what (products/ services) anywhere, but they can only get your how through you.
Don’t underestimate the significance of your individual value. It gives you confidence, but more importantly, it builds meaningful connections.
Your Individual Value Proposition Example: Sales Coach
I help entrepreneurs and financial service professionals increase their sales and improve their client experiences through coaching sessions by generating innovative, personalized ideas and strategies.
2. Your Client's Value
Personal branding is a disservice to clients. The act of building a personal brand is self-centric and focuses on you, the person building a personal brand. What personal branding gets wrong is who your personal brand is for. It’s actually not about you, it’s about how your personal brand helps your clients get more of what they want and need.
Plunge into your clients’ worlds to uncover what they value. They want you to help them solve their problems, achieve their goals, figure out how to live by their values, and fulfill their dreams.
Act as a sherpa and be a guide that helps your clients trek through the terrain of option overwhelm, difficult decision-making, and realizing the results they want and deserve.
Your Client’s Value Proposition Example: Entrepreneur
I need a sales coach who will help me connect with ideal clients and grow my revenue so that I can escape the corporate work culture and spend more time with my family.
3. Your Offer's Value
Be it price, features, or benefits, your offer is likely being compared to the competition. The only way you know it is better, or different, is through contrast. Your offer needs to be compared to something or someone. Thus, competition is a necessary evil for clients to understand the value your products and services bring to the table.
But there is a way to win in this fierce competitive landscape without price discounts or countless freebies. It lies within your ability to convey with conviction the transformation (not the transaction) you deliver. Your goal is not to sell an offer. It’s to facilitate a transformation. Your clients are seeking a change, and it’s through your transactional offer that they get to realize that change. This conviction comes only when you discern who your clients will be, what they will get to do, and what they will have because of doing business with you. This is imperative work for you to withstand your competition, but more accurately, give your clients the confidence they need to choose you.
Your Offer’s Value Proposition Example: Sales Coaching Services
By signing up for my sales coaching services, my clients will become confident transformational sellers, helping them attract more ideal clients and generate more revenue with integrity.
What's Your Value Proposition Triad?
Now that you understand all three layers of a value proposition, I challenge you to look at your unique value proposition and splice it out into three categories:
- Individual value proposition.
- Customer’s value proposition.
- Offer’s value proposition.
This will help you get more clarity about how you uniquely bring your talents to the table, the solutions your clients are seeking and why, and how your offer delivers the solutions and provides your clients with their ideal lives.