The Weekly Buzz – Values, Part Two
Last week, I started talking about the most misunderstood word in the workplace. Yes, it’s “value.” First we dug into how identifying your organization’s values and sticking to them can help you build relationships on your team and with customers. Now we’ll dig into the mysterious world of selling on value.
Why Value Matters
Talking about features is easy. It just requires knowing your own product or service. But to sell effectively, you need to show that you understand your prospect’s needs. That’s where benefits and value come into the equation. Benefits show you are thinking about how the features impact customers positively. The value proposition ties that positive impact specifically to your prospect’s goals. It’s the real test of how well you understand their business.
The fact that value is customer-dependent is part of what makes it hard to define and easy to misunderstand. No two examples are the same and no two definitions are identical either. Sales Presentations for Dummies has a pretty decent working definition that separates benefits clearly from value: benefits are “what’s in it for me?” while value “aligns your benefits with the prospect’s goals and objectives.” (Yeah, we all joke about the For Dummies series, but they have some pretty good ones, don’t they?)
Value propositions can be tough to get right in a website. Unlike in a sales presentation, where you know the prospect you are presenting to, anyone can come to your website. You have to think carefully about how to match your benefits to the goals of the people you draw to the site so they can understand the value clearly. This list of seven value props from brands we all know is a good starting point for thinking about it!
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