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Delivering a Compelling Value Proposition

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Delivering a Compelling Value Proposition

 
August 19, 2013

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  By Mae Kowalke, TMCnet Contributor
 


Telarus (News - Alert) makes its money by empowering agents. The master agent has developed GeoQuote, its real-time quoting system, and it is constantly working to help agents drive more sales.


With that in mind, earlier this year Telarus began its five-part series on the secrets to doubling sales volume.

One important secret is delivering a compelling value proposition. In a video available on the Telarus Web site, XO Communications (News - Alert) regional sales manager Steve Patterson outlined the ins and outs of effectively communicating a value proposition.

It starts with understanding why prospects are not usually looking to make a change, noted Patterson. Prospects can be content with what they have, so it is important to craft the value proposition with these objections in mind.

The most common reasons that prospects are not looking include the sense that there are currently no problems to fix, that there might be a hassle involved with changing, that all needs are being met, and that it is better to go with the devil they know than to try a new agent. The prospect also might like the rep they already have, creating an emotional reason not to change that must be overcome.

The key to overcoming this inertia is facing these issues directly in the pitch, and from offering up a compelling value proposition that shows why the hassle of changing is worth the effort.

The elements of a compelling value proposition revolve around one key idea: Painting a picture. An agent must demonstrate a “before” picture of what the business currently looks like without his or her services, and then paint an after picture of what the business will be like with the services.

This picture must be shown with numbers, too. More than just an emotional pitch or one with superlatives, the value proposition must show the return on investment to the prospect—exactly how the products or services will make a difference.

There are four questions that prospects will want answered before an agent can close the sale.

First, the agent needs to explain who he is, and the companies behind him. Every prospect will want to know something about his business partners.

Second, according to Patterson, agents need to show what exactly they can do to benefit companies. This naturally leads into the third element, which is showing how much they have helped other companies in the past.

Finally, it is important to gives examples. This can be through case studies, references from other reps, or national success stories from InsideXO. Most effective, however, are stories from existing customers who have benefited.

If these elements are all put together, the value proposition of the products and services on offer will shine through clearly and it will be a relatively easy task to close the sale.

The full video presentation with Steve Patterson can be viewed here, along with the other four parts of the series.




Edited by Rory J. Thompson
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