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16 March 2010

Develop a Compelling Value Proposition

Does your company have a developed Value Proposition that provides a strong platform for talent attraction, retention and lead-generation, and fosters a positive company culture? A Value Proposition is the primary reason why a prospect should “buy” from your company, rather than a competitive firm. For a real estate organization, the Value Proposition should include, but is not limited to, the following:

  • Training Programs
  • Self Study/Office Based Training
  • Online Training
  • Management Training
  • Networking Opportunities
  • Recognition
  • Marketing
  • Core Products/Services
  • Technology Resources
  • Lead Generation
  • Relocation and Referral Networks
  • Public Relations
  • Company Image
  • Commercial Services
  • Advertising
  • Other Company – Specific Support Structures

There are two skills needed in order to leverage the power of your value proposition:

  1. The ability to identify an effective value proposition, and
  2. The ability to express an effective value proposition

Identifying the Value proposition require the 4 following concepts to be employed:

  1. Differentiate your offer from competitors
  2. You may match a competitor on every dimension of value, except in one key area
  3. In at least one element of value you need to excel above your competitors
  4. In this way you become the best choice for your optimum “customer”

Expressing the value proposition effectively can be achieved in four simple steps. The answer to step #4 is your Value Proposition:

  1. Ask yourself: “Why should my ideal prospect (the group you intend to serve) use our services instead of a competitor?”
  2. Compare your answer with the claims of your main competitors
  3. Refine your value proposition and articulate it in a single, instantly credible, sentence
  4. If you had just 10 words with which to describe why people should buy from your company instead of someone else, what would you communicate?

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