Posted by David Bennett
Fri, 09 Jun 2006 17:44:00 GMT
1. Don’t Use Marketing Speak –Avoid speaking in that rather obscure language commonly known as, “Realtorese”. Use the words your clients use. Use the phrases and needs that resonate with them. Instead of “I provide customers with high quality services through a variety of programs , try, “We help our customers find just the right home where they will live happily ever after – and we save them thousands of dollars.”
2. Construct a “Straw Man” – Once you have outlined potential needs and verified these with your customers, construct a “straw man” value proposition that incorporates the best and most compelling points that you heard when you asked your customers what they value. Try it out with the members of your firm, with friends, with colleagues from your network. Ask for push back, make adjustments, and prepare to test.
3. Test Your Value – Your “straw man” value proposition becomes your test with actual prospects. At networking events, in your prospecting conversations, on your next phone call, see if you pique a prospect’s interest instead of getting blank stares. What pieces work the best? What pieces inspire the desire for more information? Tweak it, refine it, and finalize it, because now you are ready to go.
Once you have created a value proposition that resonates with your prospects, customers, and clients, you can now communicate this value in all your sales and marketing messages, including your:
Sales conversations with customers, clients and prospects
Marketing copy in all your marketing materials
Key words and messaging on your website
Articles and white papers
Seminars and / or webinars you offer
By putting tangible value that speaks to your customers in your value proposition you will definitely stand out from the crowd.
Posted in Test Your Value Proposition
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Posted by David Bennett
Mon, 05 Jun 2006 17:38:00 GMT
The consumer is key to the entire process – the customer/client drives the value proposition
There are as many ‘value propositions’ as there are customers or clients. Each one is unique and has different needs. There is no one blanket value proposition. In order for a value proposition to be effective it has to be customized to specific needs.
Defining your value proposition is an ongoing process, but it is a critical one.
Think about shifting your perspective – it’s not about selling your services, the value proposition is about understanding and meeting an individual customer or client’s needs. A value proposition realizes the constraints and climate the customer/client is working under and responds by providing positive solutions or value.
Posted in Do Your Own Research, Focus on the Consumer
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Posted by David Bennett
Wed, 14 Jun 2006 17:31:00 GMT
Listen, listen and listen. That’s it, in a nutshell. Your past customers want you to listen, and your future customers want you to listen. They want you to tune in and hear what is on their minds.
There are a number of ways in which you can listen to what consumers are saying. Review the survey results from NAR, CAR, RECON and leading consultants.
There is a wealth of research available on what buyers and sellers have been saying. Take advantage of the work that has been done and make this your starting point.
Posted in Existing Research, Research, Research, Other Research
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Posted by David Bennett
Wed, 07 Jun 2006 14:57:00 GMT
Potential Elements of a Consumer Value Proposition
| CATEGORY |
ELEMENTS |
| The Basics |
Product . Price . Place (Channels and location) |
| Convenience |
Availability . Accessibility . Ease of Use . One-stop shopping . Efficiency . Speed . Breadth or depth of touchpoint options |
| Quality |
Reliability . Consistency . Features or options not available elsewhere . Guarantees/Warranties . Relevance |
| Service |
Personalization . Accommodation (level of service) . Customization. Recognition. Relevance . Cost to switch or use another’s service |
| Information |
Education . Relevance . Personalized content . Level of expertise . Timeliness . Empowerment |
| Emotional Involvement |
Status . Exclusivity . Personal betterment . Classification as "innovator," "leading edge," or "trail blazer" . Community, membership, included with the group . Satisfaction of curiosity |
| Low Risk |
Easy to upgrade . Guarantees/Warranties . Reduced reasons for buyer’s remorse |
| Rewards |
Incentives . Tangible rewards . Recognition |
| Investment |
Level of previous investment . Cost of switching . Cost of time on market . Cost of doing it yourself |
Posted in Elements of a Value Proposition, Develop Key Message
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Posted by David Bennett
Wed, 14 Jun 2006 17:51:00 GMT
Your key message is what grabs your prospect’s attention and tells them:
· how you can solve their problem,
· why they should trust you, and
· why they should choose to do business with you over and above any and all other choices they might have.
Posted in Develop Key Message, Key Message
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