In my last blog, I elaborated how being remarkable is the first requisite to becoming referrable. It always is possible when you have a differentiating Value Proposition.
Value Proposition is complicated by the volume of management literature dedicated to this subject. But, in essence, the fundamental principle is that customers buy your product/service to achieve one or more of the following objectives:
Save money
Make money
Save time
Improve productivity
Satisfy an emotional need
Your product/service is a pain-reliever or a gain-enhancer. Each of these objectives can be achieved in multiple ways. The way you solve the problem makes you me-too or unique. Here are 5 pointers to check how invincible your value proposition is:
Are you reducing the pain or enhancing the gain for the most pertinent problems of your selected customer segment?
Is your performance metrics for the product/service the same as that of the customer?
Is your product/service addressing the functional, social, and emotional needs?
Is it difficult to duplicate for your competition?
Is it solving a problem unaddressed by your competitors?
Check the jobs of your customer, identify their goals at each stage, and identify the core problems and motivators. See how you can differentiate yourself and create value.
Subodh Gadgil (June 2, 2022)
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