HARDISON’S TIPS – MARCH 30, 2021 – If You Don’t Have a Value Proposition Your Sales Can Suffer
Does your sales team know what they are selling? Are all your sales reps articulating your product or service’s value in a similar manner? Is the value shared important to your customer base? And perhaps most importantly, do your prospects understand what solutions your company offers (and why those solutions should matter to them)? If you answered “no” to any of these questions, you probably need to fine-tune your Value Proposition. Here’s what a Value Proposition is, why such a crystal-clear statement of value matters, and how to build a value-based positioning statement that can help boost sales and customer engagement:
What a Value Proposition Is, What it Isn’t, and Why It Matters
A Value Proposition, often called a Unique Value Proposition, or UVP, is a clear statement about the beneficial results you provide and the business value you deliver to customers. It is a focused and concise statement of how you solve a customer’s problem or how you cure “their pain.” The word “value” is important, of course. The UVP focuses on quantifiable value as a differentiator from your competitors. It makes it easy for customers to recognize how they benefit from your solution.
Be sure to recognize, however, that a Unique Value Proposition is not the same as a Unique Selling Proposition, or USP. Here’s the distinction. Your USP emphasizes specific points of product or service differentiation. For example, it might highlight characteristics, features, or traits that your competitor’s products or services lack. Lowest cost might be such a feature. Environmental safety might be another. You get the idea.
A UVP, on the other hand, tells customers how they benefit from choosing your solution. It directly answers the question, “What’s in it for me?” Whereas a USP focuses on features, the Value Proposition focuses on benefits. If your product is manufactured to tougher construction standards, for example, it will be sturdier and last longer. The benefit is that customers won’t have to bear the expense and frustration of frequent replacements. Convenience is also a benefit, and therefore, a value-added, sellable trait. So is reliability. So is ergonomic usability, and so on.
Again, a USP emphasizes features; a UVP emphasizes benefits.
Why is a Value Proposition so important? Because if you can’t articulate your value in a clear and compelling manner, your prospects will tune you out in a heartbeat.
From his success on the sales floor of an automotive dealership to becoming a veteran trainer and then the adoption of technology for Internet-based marketing, his career has evolved to deliver the skills and tools needed to help consumers. Richie Bello combined his automotive expertise with his robust desire to “take care of the customer first” to become an automotive influencer, published author, and renowned trainer. Bello absorbed the wants and needs of consumers as he worked up the ladder of the automotive industry.
Over the thirty-five years of his career, he developed strong Internet marketing skills, leading him to developing software solutions that create ease for consumers, and helps dealers improve relationships with customers. Innovation drives success. And, for Bello, it’s in his DNA. ShopSmartAutos.com took years to come to consumers and arrived in a timely manner, during the 2020 Pandemic. With over 6 million vehicles on the site, features that help consumers deliver, finance and warranty, Bello has met the retail digital age head on.
Bello also is founder of Richie Bello Institute of Leadership and Management, a 501C3 not for profit, dedicated to the recruitment, education and employment of veterans into the automotive industry. Visit RichieBelloBlogs.com. https://www.itworld.com/article/2783373/gm-warns-dealers-about-working-with-pure-play-online-auto-sellers.html