How to create a customer centric value proposition
How to create a customer centric value proposition.
Woody Bendle here from Next Level Growth Strategies. This week’s business tip is going to simplify something that every organization and brand needs, but unfortunately a lot of people make way more complicated than it needs to be. And because people tend to make this overly complex and complicated, many organizations simply avoid doing it which is a huge mistake because this one thing can create the clarity, alignment and consistency your organization needs and your customers expect. So what I’m talking about here is your organization’s value proposition. And regardless of whether you already have one or not, I guarantee you’ll want to stick around for this week’s tip.
A question I love asking business leaders is What is your organization’s value proposition? This isn’t meant to be a trick question. Ultimately, this is something that anyone who is considering doing business with you wants to know – right? I mean, what’s in it for me if I buy your product or service? Why would I or anyone else want YOUR product or service over someone else’s?
Now occasionally, someone WILL have a crystal clear, succinct, and compelling value proposition statement. But more times than not, when I ask this question, I get a response like “Well, that’s actually a good question. I don’t know that we’ve ever really pulled that together.”
I mean really? You haven’t put down on paper why I should do business with you?
Now because I get a response similar to this pretty regularly, I’m betting a lot of you watching this video right now are in the same boat.
If you don’t have a value proposition, or if your value proposition isn’t super simple and crystal clear, I’m going to give you one of the easiest and most straight forward formulas that you’ve maybe ever seen.
Alright here is goes.
We help blank, do blank, by doing blank.
That’s it. It’s that simple.
We help blank, do blank by doing blank.
So let’s take a look at each of these blanks.
The first blank is your ideal or target customer. I’m hoping you have a good idea about who that is.
The second blank is pretty obvious right. This is what your customer is able to do, do more, do better, do faster, do cheaper, do more consistently, etc.
And the last blank is what you do, or provide, that allows your customer to do what it is that your product or services allows them to do or achieve.
I mean how simple is that?
So for example, our value proposition here at Next Level Growth Strategies is
We help frustrated business owners and leaders achieve their next level of profitable growth by creating clarity, alignment and consistency.
Now one of the things I like most about this value proposition formula it that it places your customer front and center. And it still amazes me that so many organizations aren’t explicit about this. I mean nearly every business owner and leader that we speak with talks about being or being more customer centric. But when we take a look at their mission or vision or promise, and yes their value proposition, their customer is nowhere to be seen. And if you’re really serious about being more customer centric, I’d strongly recommend explicitly placing your customer in these statements.
OK so here’s this week’s business tip.
Your organization needs a clear, concise and compelling value proposition. And there are a lot of reasons for this, but the most important reason is that it is a powerful mechanism for creating organizational clarity, alignment and consistency. This is clarity and alignment about what you do, who you do for and why you do it. And then ultimately this helps to drive consistency throughout all aspects of your business. How you operate, how you go to market and how you communicate and market your brand.
And one of the simplest and most effective formulas for creating a clear and compelling value proposition is this.
We help blank, do blank by doing blank.
We help blank, do blank, by doing blank.
Pretty simple right?
INDEX:
00:00 - Intro
00:49 - The set up for this week's business tip
02:00 - The formula for a customer centric value proposition
03:40 - This week's business tip
https://nextlevelgrowthstrategies.com
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