Introduction
We’ve all come across it before.
The overly confident “guru” who promises his plan, tools, or MAGIC green powder is the cure-all for your business suffering from limited sales.
Wait, why are you laughing at the spritely gentlemen?
He said he’s going to “5X your income.”
Listen up! It sounds AMMMAZZIING.
Maybe it’s one or a lethal combination of the following:
- You’ve been in your industry for decades and understand what flat-out will NOT work.
- He emphatically states that his solution is industry-agnostic.
- The easy-to-implement game plan he prescribes pays no attention to the specifics of your business (time in the game, historical results, etc.)
Here’s the truth: You can test out many minor actions before you start to fork out significant $ to apply a cookie-cutter prescription.
In just a moment, I will give you a roadmap for building a single-sentence value proposition that, unlike Mr 5X’s plan, will allow you to incorporate your business acumen.
You can see why a cultivated value proposition is an underrated tool here.
To be brief, it is the backbone on which all marketing activities should be built AND is the compass that shapes and informs your business’s direction.
You don’t need any resources besides your business knowledge to build a basic value proposition.
Open up a secondary window for note-taking whilst reading this article, as it is HIGHLY ACTIONABLE and should be used as a guide.
Let’s get started.
The Roadmap
The tasks that are a part of this roadmap can be broken into four stages:
Stage One – Needs Analysis: Answer questions focusing on your ideal client’s requirements to solidify what they require from your business’s service.
Stage Two – Needs Matching: Determine the needs uncovered in stage one that your business’s service resonates best with.
Stage Three – Enhancements (optional): If appropriate, you can consider enhancing the needs matching completed in stage 2.
This may include:
- Amplifying the positive attributes your business’s ideal client seeks to strengthen your service’s allure.
- Reducing the effort your ideal client perceives they will have to exert to achieve their perfect outcome via your business.
- Removing the attributes your business’s ideal client perceives as negative in a service like yours.
Stage Four – Merging: Form a single-sentence value proposition dedicated to your business’s ideal client.
I will now break down each stage using the example of a financial planning business struggling to connect with its ideal client and consequently not acquiring a satisfactory number of new clients.
Needs Analysis
Question One: What does Your Ideal Client Gain From Your Service?
- Financial security and peace of mind.
- Personalised guidance and advice.
- Time savings and reduced stress.
Question Two: What Are Your Ideal Client’s Jobs Involved in Pursuit of An Ideal Outcome From Your Service?
- Gathering financial information and documentation.
- Setting clear and achievable financial goals.
- Communicating regularly with their financial planner.
Question Three: What Doesn’t Your Ideal Client Like in a Service Like Yours?
- Lack of personalisation or a one-size-fits-all approach.
- Complex jargon or difficult-to-understand explanations.
- Lack of trust or confidence in the financial planner.
Needs Matching
i) Selection One: Financial security and peace of mind.
Reasoning: The financial planning business being assisted focuses heavily on this attribute.
ii) Selection Two: Gathering financial information and documentation.
Reasoning: This common pain point seems to delay suitable clients from taking action.
iii) Selection Three: Complex jargon or difficult-to-understand explanations.
Reasoning: Certain competitors of this business have been using industry language, so it should aim to separate itself from the pack.
Enchancements
i) Financial security and peace of mind
translates to
Achieve financial independence by your early 40s.
ii) Gathering financial information and documentation
translates to
Our user-friendly online portal makes gathering and uploading your financial documents easy.
iii) Complex jargon or difficult-to-understand explanations
translates to
Our financial planning process is easy to understand, with clear explanations and jargon-free language.
Merging
We coach tradespeople between 20-30 years old to achieve financial independence by their early 40s without the industry jargon that leaves them second-guessing their next move.
Conclusion
This was a quick and dirty exercise to help you start building that perfect value proposition for your business.
Clarity is the most critical aspect of a value proposition, so if you can achieve this, you are at a good point.
You can further improve your value proposition by conducting competitive analysis, reviewing market trends, or even testing different value proposition concepts to see what’s creating the best results.
If you’d like to know more about building an even STRONGER value proposition, book a consultation call using the link below.
https://calendly.com/ever_new_digital/thirty-minute-consultation
