In a recent webinar titled “How to Build Your Best Value Proposition”, we showed a step-by-step process that you can use to create your own value prop. But one of the key things that we discussed at the end of that webinar was when it is best to use your value proposition.
Use Your Value Prop When Networking
When you are networking, one of the most common questions asked is “What do you do?”. A common way for a business owner or salesperson to answer this question is by stating what they sell with something like this:
I sell inventory management software.
There are a couple of reasons why this is less than optimum. First, when you state what you sell, the person you are talking to might not know what you are talking about or might find the answer a bit boring and with either of those scenarios, it creates a situation that does not position you and the other person to have an engaging exchange.
Another reason this is not great is that it is fairly “autopilot-ish” meaning they asked a routine question and you provided a routine answer and then the conversation does not go anywhere.
Another way to go is to answer with your value proposition with something like this:
I work with manufacturing companies and help them to reduce their inventory costs.
From there, the person you are talking to might ask you how you do that or ask a follow up question wanting to learn more and then you can begin to share more information about your product, service, or company.
Use Your Value Prop for Your Cold Call Intro
There are a couple of really great ways to use your value proposition when cold calling and the first is when you open the call by using a value prop intro with something like this:
The reason I am reaching out is that I work with supply chain managers and help them to implement just-in-time inventory management.
I don’t know if you all are a good fit with what we do and that is why I was calling you with a question or two.
Use Your Value Prop for Cold Call Objections
Another really great way to use your value proposition when cold calling is to use it for certain cold call objections. One of the most common objections that comes up is “What is this call in regards to?”.
If you were to answer that question either honestly or with a direct response, you may say something like:
I am calling to see if you all need ____.
I am calling to introduce our company.
I am calling to schedule an appointment.
When you respond with anything similar to what I just shared above, you will immediately be letting the person you are talking to that you are a salesperson trying to sell something and that will usually lead to the call being brought quickly to an end.
Now we don’t want you to lie or mislead the prospect or gatekeeper with your answer. But one nice little trick here is to answer them with your value proposition by saying something like this:
Well, the reason why I am reaching out is that I work with operations managers and help them to reduce the time spent submitting orders.
We are not saying that this type of response will make the prospect or gatekeeper interested in buying from you. But what it does is it keeps you alive by not giving them the confirmation that you are a salesperson trying to sell something and it also keeps your answer completely honest at the same time.