A Model to Create a Value Proposition
Posted by David Bennett Mon, 05 Jun 2006 21:22:00 GMT
Do you find it difficult to describe the services you provide to consumers? You’re not alone. The real estate industry is rich and complex and there are many service models, many aspects to a transaction, and many ways to approach each situation. In order to communicate the value of your business as a whole, you first need to find the common thread that runs throughout everything you do.
To help you get started, consider the triangle below:
The top level represents your brand value, your value proposition and your key marketing message (or messages) that apply to your business as a whole.
The lowest level represents the individual components of the services you provide to your clients and customers. For example, on this level, are such items as advertising on the internet, placing a yard sign, holding an open house, negotiating a contract, doing a CMA, etc.
The middle levels depend on your business model, standards, and levels of service. For instance if you list properties and sell properties both, the second tier might contain listing services, buyer services, property management, price opinions. The third level might be oriented toward your niche: sellers, buyers, investors, second homes, commercial, etc.
Each level should be a combination of the marketing messages from the level below it. The highest level should convey, obviously not in any detail, a description of what you do.
You can choose at which level you want to being selling to your potential clients and customers. The ultimate is to sell them at the highest level the first time around – that is give them the big picture early in your relationship. If you get stuck selling your value at the lower levels all the time, you will find that you have to constantly re-sell something every time you do business with that client/customer.
The reality though is that although you want to sell yourself at the highest level, clients/customers may often know what they want at the lower levels. Therefore, you do need to have your marketing message at all levels.
How to apply this to your business:
- Create a triangle and start at the bottom with the lowest component level services you could offer.
- Could any of these services be grouped into an easily describable higher level service? If so add this description to the next level. Do this until you have grouped all the lower level services. If a particular component doesn’t fit in anywhere, reconsider whether you should offer it. By the same token, if a higher level service group is incomplete, you probably need to add an element at a lower level.
- Repeat this process until you get to the top of the triangle.
- Now use the Key Message Marketing formula to create your messages for all the levels.
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