Value Proposition: Yours/Mine
We chat a bunch in the real estate business about the concept of Value Proposition. So what is a Value Proposition? And why is it important?
Well, first things first, according to Wikipedia, it is “a promise of value to be delivered, communicated, and acknowledged.” Okay, but that doesn’t really tell me enough. I like this one from the good people at Kissmetrics.com: “a believable collection of the most persuasive reasons people should notice you and take the action you’re asking for.”
So, how do we determine our own value proposition? Easy, we take whatever it is that we want people to want, and match it with what makes people BUY what we have. To do that, we must know what are the most driving buyer triggers. Here they are:
1. In-depth expertise. Know what you know and know it well.
2. Up to the minute current context. Know how what you know relates to today’s world.
3. Immediate relevancy. Be able to evaluate your potential customer’s situation and have your knowledge and skills work for them.
4. Easy to work with. Four things work here: build rapport, be a good communicator, explain why, make their role easier.
5. Interactive and experiential. Have them roll up their sleeves and be a partner in the process.
6. Real world experience/anecdotes/war stories. Often a good story or metaphor gets people to see things from another perspective. Use your experience to help guide them through their experience.
7. Authentic and approachable. They want the real you. The honest, empathetic, genuine one. Oscar Wilde said, “Be yourself. Everyone else is taken.”
So, here is how you might use this fantastic insight to create your value proposition. Create a one-sheet using the following seven topics (of course elaborating a bit on each).
Why Hire _________ (insert YOUR name)
1. Expertise
2. Currency
3. Relevance
4. Ease
5. Cooperation
6. Experience
7. Authenticity
An effective value proposition is a reflection of the words jazz great Fats Waller wrote: “Find out what they like and how they like it and give it to them just that way.”
Good luck. If I can help, reach out at richteaches@gmail.com.