In a previous post, I provided a do-it-yourself guide for creating compelling value propositions in 3 steps using the following formula:
The value proposition formula
We help [your most promising prospects] that [need help with the pressing concern you address] succeed by [providing the material improvement you will deliver]. Unlike [the alternative solution], [your solution] [describe the reason why your company is a better choice] as demonstrated by [evidence that you will deliver as promised].
A service provider's "green" value proposition
I promised to provide examples in follow up posts. In each one, I'll elaborate on one aspect of the value proposition.
First up, is a value proposition for The Spill Center. Here it is:
The Spill Center helps [companies that transport hazardous materials] [minimize clean up costs and avoid fines and penalties in the event of a spill]. Unlike [other companies that help transporters mitigate the consequences of an accidental release of hazardous materials], [with just one call to us, spill generators can find cleanup contractors, complete all required regulatory reports, and document incidents].
[For example, Spill Center saved one client more than $305,000 in cleanup costs for a single incident. When one of its trucks spilled 4,000 gallons of methanol-based cleaning compound into a creek, we succeeded in getting regulators to agree to a more cost-effective way to clean up the spill and in negotiating costs downward after reviewing contractors' invoices]. [Become a client today] and [avoid fines and penalties by gaining access to Spill Center's legal expertise and extensive databases of regulations, reporting requirements, and clean-up resources].
Capture attention with specifics
The purpose of your value proposition is to distinguish your company and solution from the competition. Nevertheless, step one is capturing attention.
Note the way that Spill Center describes its most promising prospects. This description is so specific that there is no doubt as to who would benefit from their services. In fact, if you know anyone that transports hazardous materials, I'll bet you thought of them immediately.
So, when describing your prospects, test it by asking others who they think might benefit-and see how long it takes them to answer. If they name three companies right away, your value proposition should do the trick. It will capture the attention of qualified prospects-and those in a position to refer them to your business.
Who are your most promising prospects? Can you describe them in a way that captures their attention?
If not, this article entitled "Know your customer, grow your business" may help.
Written by: Barbara Bix