Having strong value propositions is critical to successful selling. Many people will spend time trying to come up with the perfect value prop. But the reality is that you can have multiple value propositions. This means the value you offer to different types of buyers can be different – You help a manufacturing company in different ways than you help a retail business.
You also offer different types of value. In this blog post, we break down three different types of value that you offer. For each type, you can compose different value proposition statements.
The value you deliver can typically impact your clients at three levels – technical, business, and personal.
1. Technical Value
At the lowest level, you offer technical value. These are the benefits and improvements in your value proposition that you can deliver to make things work better, realized in areas like processes, systems, and people. Here are some examples of delivering value at the technical level:
- Helping a business save time
- Automating certain manual tasks
- Improving the performance of systems, processes, or people
- Improving the reliability of systems, processes, or people
2. Business Value
As a business begins to realize value at the technical level, those benefits will work their way up and create value at the business level. This value can be seen in areas like revenue, costs, and services. Here are some examples of businesses realizing value at the business level:
- Increases in revenue
- Market share growth
- Improvement in the close rate
- Decrease in cost of goods sold
- Decrease in inventory cost
- Decrease in labor costs
- Improvement in customer satisfaction
- Decrease in product delivery time
3. Personal Value
The technical and business value we deliver can continue to grow and impact clients at a personal level. Personal value can be seen in areas like income, career, and work environment. Here are some examples of prospects realizing value at the personal level:
- Increases in bonuses or commissions
- Improved probability of promotion
- Performance recognition
- Decrease in workload
- Decrease in stress level
- Improve work/life balance
When you know the value you offer at the three different levels, you can combine the points to create different versions of value propositions.
SalesScripter helps sales pros to develop their value propositions.
