Your Sales Value Proposition Must Have F.O.R.M. (Bonus Post)

Following is an example of how one might put the ideas from the previous four posts into actions.

Remember,Crafting your sales value proposition or "elevator statement" well is perhaps the most crucial element in a systematic business development program.  If done well, it becomes the foundation for all of your branding, networking, and other marketing efforts.

It actually changes the direction that your conversations go with prospects and clients!

If done well, it has F.O.R.M.

It is Focused.  You Own It.  It is Relevant.  And it is Magnetic.

Think about these two value proposition and how they stand up to the F.O.R.M. criteria.

Ask many bankers what makes them stand out and more often than not they will say,

“It is our people (or customer service) that makes the difference”

So, on whom does the bank focus?  Everybody?  Nobody?  What’s the difference?  Every bank can honestly say that their people (or customer service), for better or worse, makes the difference. 

How do you “own that?” 

By the way, does that make you money or save you money or is that emotionally compelling in a way that matters?  It is only relevant if the business owner who hears it has had a terrible people experience somewhere else.

Finally, there is nothing magnetic in that value proposition.  Does it provoke questions or inquiry?  In any way does that statement motivate a business owner to do business with one bank versus the one next door?  In other words, is that statement inviting?  Not really.

As a business owner, don’t you expect every bank to provide good customer service?  Don’t you expect every bank to not make mistakes with your account and to fix it if they do?  Of course! 

These are the “table stakes” of business.  If you want to play the game, your ante is good customer service.

What if a banker answered this way when asked the question, “What makes your bank a good choice for my business account?”

“We conduct a Small Business Academy.  Every business customer of ours can attend a variety of small business seminars on topics such as marketing, sales, customer service, hiring practices, inventory management, accounting, and more.”

This certainly has F.O.R.M.  Run through the criteria for yourself.

Can you see how this two sentence value proposition impacts your entire perspective as a prospect? 

Can you see how it will impact the kind of provocative questions that the banker might ask a prospect when networking?

Can you see how it changes the number and quality of referrals that might come to the banker?

Can you see how it might impact their marketing campaigns?

No more free toasters for these guys!

Other b2b value propositions that fall flat include …

    “We really get to know your business”

    “We are your one-stop-shop for …”

    “We can handle all of your __________ needs.” 

What are your thoughts about your own business?  Some get very excited by the challenge of getting in F.O.R.M.  Many are frustrated.  Share your thoughts below or feel free to email.

Comments

[Small Business Answering service]

Customer service is one of the key things to remember in business. It is very important and it can change the tide of sales in favor of you. Anyways, thanks for the post! The ideas and insights are very worth reading.