Why should a prospective client choose you over your competition?
The answer to that question is at the heart of your value proposition.
Think of your value prop as a tool, or an opportunity to position your services to succeed among your target audience.
We’ve met many consultants who don’t know what their value proposition is – that is, they don’t know how or can’t articulate why they’re different from the competition. This gap in knowledge represents an opportunity for you, if you think carefully about what makes you special.
Value Proposition Defined
A value proposition is the reason or reasons why your clients should buy from you. It offers the concrete results that your clients will enjoy by purchasing your products and/or services. It can be one simple statement, or a collection of them.
It’s not a laundry list of services. It’s the unique value you bring to the table when a client signs up with you.
As a result, your value prop needs to focus on outcomes, not on an explanation of your services or even of your methods. And it needs to do so in a clear, concise, and compelling phrase or phrases that your clients and prospects will understand and remember.
Why You Need One
So why is a value proposition important for your consulting business? Here are just a few reasons:
- It positions you. Your value proposition should define what is being offered, who the target client is, and why they should buy from you.
- It acts as a door opener. A strong value proposition can pique the interest of a prospect because it demonstrates concrete results.
- It helps you stand out. Your value proposition should offer key differentiators between you and your competition, defining what makes you different and/or better.
- It offers a solution. Your clients have a problem, and you have the solution. A strong value proposition should convey that.
At the end of the day, a good value proposition requires that you have the necessary insight into what makes you unique. It also requires that you understand the value that you offer – from your clients’ perspective…not yours.
If you’re having trouble crafting a value proposition, then talk to some of your clients. Ask them what it was like before they started working with you, and what it’s like now. That should give you the ammunition you need to craft a winning value proposition.