Re-Examine Your Value PropositionBy
Kim L. Clark
No matter what, human beings must do business. In feudal societies and capitalist dictatorships; in flush times and depressions; in war and in peace. There will always be traders, sellers and buyers. Where there is a need (real or perceived), there will be a product or service available to provide fulfillment and someone will make money as a result of the transaction.
The most successful sellers possess either a product in high demand (beer at a ball game, umbrellas in a rainstorm), or present the most compelling case, i.e. the strongest value proposition, for what they sell. Maybe you can do the same? The process can be broken down into 5 manageable steps. The first two are presented here.
Getting started is easy--- ask your customers! They may know more about your business than you do. They certainly know the market place in which your business operates, because they navigate those waters as purchasers and users of the products and services offered therein. Your customers have done their homework and they have chosen you.
Step One, communicate to long-term and big-spending VIP customers that you value them highly. These customers play a key role in helping to grow the business, in addition to the gross sales receipts they provide. They are able to become your opinion leaders, informal advisory board, market research subjects and referral sources. Put them on your December holiday card list. Make referrals for them.
Step Two, choose your three favorite VIP customers and individually treat them to whatever meal you can afford to buy. After the usual pleasantries, segue into talking about business. Customer priorities change as organizations and business environments change. Economic factors, company leadership, competitive landscape and shifts in consumer preferences each have their impact and insight into how the company plans to respond will be very helpful to your business strategy.
While chatting, remember to ask your VIPs what you can do to better serve and make their jobs easier. Diplomatically inquire about the competition and also ask about any changes or important projects that may be on the drawing board at their organizations. You get the idea. You may even discover a niche market to develop.
If you can access the customers of your competitors, by all means take them out to coffee to build bridges and get information. What you learn could lead you to offer additional services; re-package current offerings; reword the marketing message; or other actions that would enhance the perceived value, i.e. the value proposition, that you bring to those on your customer list.
Strengthen relationships and make important customers feel even more so. Find new business opportunities, tweak your business model or your advertising choices and maybe even get your foot in the door with a competitor's customer. Talk less, listen more, take notes and be humble.
Stay tuned for the three remaining steps that will help you to create a winning value proposition for your business.
Thanks for reading,
Kim
Kim L. Clark is a strategy and marketing consultant who works with for-profit and not-for-profit organization leaders who must achieve business goals. Kim is the founder and principal of the consulting firm Polished Professionals Boston and she teaches business plan writing to aspiring entrepreneurs. Learn how Kim's expertise can benefit your organization when you visit http://polishedprofessionalsboston.com.
Article Copyright © 2014 Kim L. Clark;All Rights Reserved
Article Source: http://EzineArticles.com
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