How Do You Communicate Your Value?
How often do you feel you have to drop your fee in order to get business? Do you respond to a client’s request for “your best price” by re-evaluating the estimate?
All too often my clients are frustrated because they feel they must compromise profitability in exchange for new business. My response- YOU SHOULDN’T! The real problem is that you are simply not communicating the value of your products and services clearly and completely.
Take this test:
- Does your product/service increase your client’s ROI?
- Does your product/service reduce your client’s risk?
- Does your product/service free up your client’s time?
- Are you motivating your clients in the right direction?
Did you answer “yes” to these questions? Are there any that you weren’t able to answer? If so, you need help crafting your value proposition.
Your value proposition is the convincing message that will filter through all facets of your business from sales and marketing to customer service both internally (your employees) and externally (prospects and clients). It must be clear, concise and presented confidently.
That confidence comes from being prepared. Prior to creating your message make sure you know your audience/ clients/ customers– what they are looking for; what problem are you solving; what is your target demographic. Be focused! Research possible competition and their messaging. Communicate your ideas with your employees. Everyone should live this message. Make sure your value addresses your clients’ potential concerns. Complete the value proposition with a connection. How are you ultimately connecting with the target audience and the larger world? Make it personal and relatable.
Many times, the best way to communicate your value proposition is through storytelling. Stories provide greater impact and relevance. It allows your target audience to imagine themselves in a situation working with you. It will ultimately illustrate your value and expertise without disguising the message in facts and figures or lengthy explanations. Effective stories and memorable and leave a lasting impression.
Are You Ready?
Creating a value proposition takes time. Prep and research should take up the most significant amount of that time. Don’t rush it, and don’t skimp! This is an important building block for the foundation of your business. And one that will enable you to charge for the true value of your services, rather than respond to “bid” style requests. Need help? Your accountability partner can offer the tools to outline and produce a strong and successful value message.