SELL THE VALUE, NOT THE PRODUCT

Many people dive head fast into business and we want to sell, sell, sell and get the money, money, money. And so we forget the processes that are within when it comes doing business. One of which is Value Proposition. This is the promise of value to be delivered; the reason people should buy from you.

Take for example on a cold Monday morning, if a lady selling porridge walked in to your office and said, “Good morning. I am selling porridge. Big cup 1500 shs, small cup 1000 shs,” and another lady selling food warmers walked in and started by greeting you, then engaging you in a short conversation that went a little something like this;

Lady: “Good Morning sir/madam.”

You: “Good Morning.”

Lady: “Sorry about the weather. It has been very cold these past few days.”

You: “I know.”

Lady: “And you know food tends to cool very fast.”

You: You start to think about how you don’t like cold food

Lady: “I have some food warmers here with me…”

Now I am almost positive that although lunchtime is hours away, you will be more convinced to buy the food warmers, and not the cheaper hot porridge that will probably solve your problem now.

After you have identified the target market (the potential customers), insight is key when coming up with a value proposition. You must identify the target’s biggest most unmet need and then decide to give them benefit by focusing on providing the solution. Do not have multiple benefits. Have just one that will solve the most pressing, most significant problem to the target market and by doing so, your value proposition increases.

Look out for the alternatives in the market i.e. the other places that the customers would most likely turn to solve their problem. Find out who directly or indirectly already delivers against that problem? And then go further to find out what they leave out and how you can address that.

Last but not least, offer your unique selling point i.e. “We can deliver benefit to the highest degree of superiority over everything else that exists in the market, therefore you should come to us.”

If your value proposition makes people go “hmph?”, you’re doing it wrong. Yes, sufficient information and selling the product is crucial for business, but you need to draw them in with a clear, compelling value proposition first.

By Rebecca Nabejja
Intern
Kyusa