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Life Health > Life Insurance

3 components of a strong value proposition

By Jill Konrath

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What is a value proposition and why is it important? A value proposition is a clear statement of the tangible business value prospects get from using your product or service. It’s the outcome your offering delivers as opposed to the offering itself. So your challenge is to figure out what your outcomes are.

For example, I do training. No one cares about the training itself, however. When I work with clients, I help them with increased client acquisition and faster sales cycles—that’s what they get from my training programs. And that’s the only reason my clients hire me.

Here are the three main components of a value proposition:

1.     It’s focused on a measureable business objective.

2.     It has movement. No one wants to just switch vendors. They do it because sales increase, costs decrease, efficiency improves, etc.

3.     It includes metrics. I might tell my prospects that, after working with me, one of my clients was able to set up meetings with 79 percent of his targeted national accounts. (That kind of stuff is impressive.)

So why is a value proposition so important? Because a strong one will be the reason prospects decide to meet with you. It will pique curiosity and open doors. Without a strong value proposition, it won’t matter what you sell.

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Jill Konrath is the author of SNAP Selling, Selling to Big Companies and Agile Selling. If you’re struggling to set up meetings, click here to get a free Prospecting Tool Kit.

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