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VALUE PROPOSITION: WHAT MOTIVATES PROSPECTS TO BUY FROM YOU?
The value proposition is the essential articulation of the value at any organization where the business and non-profit provides to its customers. Lots of people talk about the value proposition. There are many different descriptions of what constitutes a value proposition. Commonly it describes the collection of products or services a business offers to meet the needs of its customers. It also includes how those products and services are different from competing offers. However, a value proposition is much more than a simple articulation of the value an organization provides. It is the main foundation that underpins a business model and an essential tool for testing your business hypothesis in the world. There are four elements of a good value proposition-
Customer- Who is the customer and who is the value for?Are they the real qualified sales lead? So, spend some time to qualify your customers and identities.
Problem- What problem are you focusing on to solve for a customer?
Solution- What solution do you have in your mind? How is it going to solve the problem?
Differentiation-What are your differentiators? How and why is your solution is better than the other solutions that are already out there? Here, differentiators must be quantifiable so that your customers can taste and measure these.
Now we would talk about which facts can motivate prospects to buy products or services from your company. Let's starts then!
Consider yourself a consultant, not a seller who only wants to force people to buy their products or take their services. Be a helper here who would listen to the customers or talk to them personally and consult them with a better and effective solution. A better and tactful approach can make high-quality selling.
When your prospect wants to run away from something of low value, this is the time when you want to play upon this avoid motivation. It is something unworthy of attention or annoyance that should be ignored.
With this, people want to insult, criticize, or devalue something. Attack motivation is a way to go only and only when people are emotionally motivated to eliminate something.
You must understand what your prospects need. What is the exact truth? What they need actually? Now, a lot of time, this can be quite surface level. For example- cost-effectiveness, mindset, etc. are the surface level words. What we want you to do is by having a better determination, what is the actual problem? And, that is where you are going to go. Try to understand what the real pain is of your potential prospects. You would come to know what the real problem is. That is the first thing. In a nutshell, the middle stage between the client's current situation and future expectation is called PAIN.
By having the problem, what do they need to solve the problem? What is the solution can be? What they need from you like a product or service to solve the pain they have got. This is critical.
Once the prospect fully trusts you and you trust them to solve their problems, to understand their needs, it means, once the belief is in place and built, you are ready to go into what we call the close.
The final thing that we need is urgency. A lot of people feel that to create urgency, it's getting about to be money. And, of course, that is true. Often, there are incentives to do something straightway, often use a cutoff date. So, if you do it by a fixed date, the price will go down by a significant amount. There are many different ways to create urgency. And, the actions or techniques are around powerful questions such as- How long can you carry having these pains that you talked about earlier before this becomes a bigger problem? What is going to happen if you don't get it solved? How tough is this to resolve right now? So, you can create urgency through language.
Once you understand what pain your prospect is tolerating, what is the truth, or what is going on, you would find out what they need to solve the problem or to accelerate the result. Once you have got enough trust between two parties, and faith comes through good practice, it comes through being professional. It comes through being purposeful. Once you have achieved this, you can create some urgency around solving the pains. That is the best way to increase the number of sales that you can get a day to day basis.
Why is this so important?
Whether the solution you are providing fits a need, you need to be able to test. If you do not quantify the customers, you would not know whether your result is sufficient enough. If it is not quite a fit, you make a change to your product or service to better align with the need of the customer. People don't want to invest in your product or service until they get to realize any upcoming benefits from them.
The job of a salesperson is to motivate prospects to buy a product or service from their respective companies. If all sales cycles can move from the first contact to purchase commitment directly on the same day, It would be great. But, in actuality, this rarely happens. Most of the time, the prospect’s motivation ends at purchasing a product or service. So, it is not easy to convince them to buy the products or services in the business market. But, following the above discussion carefully, we can hope that these motivations will make more prospects to purchase products, as well as services, form your companies.
Prospect motivation is tough to measure with something like A/B split testing. Also, it may not have a hard metric we can measure at all. It is nothing but another way to convince people to purchase products. But, motivation is the most powerful point that can manage people to buy any product or service.