By Sandra Collins

This blog is about your value proposition.

 

When you run a business and you’re considering marketing initiatives, it’s important to put things in their proper perspective, especially this:

The primary factor in whether people will buy from you is that they want your products and/or services and they consent to the value you provide.

In marketing terms, what you provide and why it is valuable together are called your “value proposition” or your “unique selling proposition” (USP). The strength of your value proposition is the most important factor in whether prospects buy from you.

Further, repeat business and referrals are based on your customers’ satisfaction: with the products/services you have provided and continue to provide, as well as how effectively you implement business transactions.

Secondary to those things is marketing. Marketing can help you communicate your value proposition, but it does not replace it. Sometimes there’s a mystique about “marketing” and what it will do for you, and marketing people don’t deny its power, but in reality it comes in second behind your value proposition. Clarity in your communications increases the efficiency and effectiveness of delivering your value proposition, to increase the likelihood that people will consider your company as a supplier. However, marketing is not a substitute for the primary reason people buy from you. In other words, if people don’t need what you are providing and they don’t see value in the transaction, marketing alone will be unlikely to get them to buy. (You heard it here first!)

Great marketing and communications will do these things:

• Support the image you wish to project to customers and prospects
• Help prospects to know you, like you, and trust you
• Raise awareness of why people should buy from you (this aspect also includes promotional campaigns and special offers)
• Contribute to a great customer experience

As a marketer, I believe marketing is essential to effective selling. However, in and of itself, it’s not the most important thing you do. It won’t, for example, solve weaknesses in the value you provide nor get people to buy what they don’t want. Sales techniques are definitely trending away from this approach.

In addition, it’s important to remember that social media now provides multiple channels for people to communicate their satisfaction or dissatisfaction and thus influence others. Little can be concealed. If your customers are very satisfied, you’ll benefit from their positive words. However, the opposite is true in the case of customer dissatisfaction. This is why complete customer satisfaction should always be your primary goal!