Why Most Value Props Fail
O.K., that’s a difficult question for any company to answer “yes” 100% of the time.
Let’s try this instead:
Can every salesperson in your company articulate your value proposition consistently and concisely in 30 seconds or less?
Here is a quick litmus test: If an executive sat down next to your salesperson in seat 4D on a plane and asked, “So what does your company do?” What would they say? We often hear “it depends.”
I am here to tell you that it doesn’t. Your value proposition should be communicated consistently by, at a minimum, every single salesperson in your organization in every situation. After all, it is communicating your brand!
According to the Rain Group, a strong value proposition consists of three key components and they must be articulated in the exact sequence in order to order to create a “recognition of need” with the potential prospect.
The three key components are as follows:
A strong value proposition must resonate, differentiate and substantiate.
Resonate: This is the “hook”…What’s in it for them? It should be one sentence and should l pique their interest enough to want more.
Butler Street’s Resonate: We help companies grow and their people grow® in the two most challenging areas organizations face: client development and talent development.
If you hadn’t noticed, we are so passionate about our value proposition, we had the first half of the sentence trademarked!
Once you have given them something to think about, you now must differentiate yourself from the rest of the companies in your segment.
Differentiate: This statement needs to show why your company is the best option.
Butler Street’s Differentiate: We are one-part consulting and research company and one-part training company made up of former CEOs, COOs and VPs of Sales. The consulting/research part of us diagnoses your business for gaps v. best practices and training part of us designs a “system of reinforcing activities” to close the gap and ensure the training sticks. Put simply, we Diagnose. Develop. Perfect.
In our segment, very few companies have all three differentiators of (Diagnose. Develop. Perfect.) and if they do, they are delivered by lower level associates or “trainers” with little to no real life experience in client and talent development. We also made the investment in trademarking our approach and methodology.
The final component your value proposition is your proof statement!
Substantiate: It should validate the resonate and differentiate portions of your value proposition and is best if supported with facts and data.
Butler Street’s Substantiate: Our clients grow 4X their respective markets.
Fact-based, data-driven substantiation is always best.
You must have all three components to be successful.
Again, your value prop must resonate, differentiate and substantiate. How does your value prop stack up?
In today’s 140 character, “attention span of a gnat” world, being able to articulate your value proposition clearly and concisely can help your company grow through:
- Improved lead generation
- Improved marketing messaging
- Secure more prospect meetings through better voicemails
- Establish a stronger position in the mind of customers and prospects
A Butler Street, we believe that if the “eyes are the window to the soul,” a company’s value prop is the window to sales effectiveness. If your value prop doesn’t resonate, differentiate and substantiate, Contact us and let’s talk about how we can help your company and your people grow.
With 194 percent year over year growth and a 90 Net Promoter Score, Butler Street has established itself as one of the leading consulting, training and research firms to the middle market. Before founding Butler Street, Mike Jacoutot spent the previous nine years as CEO of a national health care staffing company and most recently, a revenue cycle company. Jacoutot brings a strong combination of Lean Six Sigma process skills together with 34 years of sales and marketing experience.
Jacoutot is also the author of "Become the Only Choice." Now in its third printing, the book emphasizes a combination of consultative selling and process management techniques to enable salespeople to sell the way clients buy.
A four-time All-American collegiate wrestler, Jacoutot led The College of New Jersey wrestling team to two national championships. He culminated his senior year by winning the NCAA Division III Championship after three consecutive second place finishes. In March 2015, Jacoutot was inducted into the National Wrestling Coaches Hall of Fame. In October 2013, he was also inducted into The College of New Jersey Athletic Hall of Fame along with his 1981 NCAA Division III Championship Team. He holds a B.A. in Management.