Towards a Value Added Proposition

I suggest this exercise in some of my classes: write down your top ten clients and ask yourself a serious question - why do they buy from you? They obviously prefer you over your competitors. Why? Is it your service? Creativity? Price? Technology? People?

Ask them. Their responses might surprise you.

• You: Why do you enjoy doing business with us?
• Customer: Your company is so _____! You guys are very ______!

Don't settle for broad answers. When they say, "we love your service", don't buy it. You cannot afford to settle for easy answers. When they say, "you make my job easier", ask how. Dig for descriptive words. If they can't think of a descriptive, ask them for a time in recent memory where they noticed your service (or, perhaps, didn't notice - equally as important). It may take some time to ferret this out but it's a worthwhile exercise. Those descriptions matter.

Take this same client list and look for similarities. Do you have a special niche product or service that most of these clients experience? Do you serve a particular client exceptionally well? Are there similarities between your clients? (B2B? B2C? Non-profit? Large client? Small client?)

Next, write detailed notes. Use a thesaurus (yep, you heard me). Discover as many words as possible to describe your business. This is not a futile exercise. It is vital. After this, list these traits by order of seniority.

One more list: take your top three competitors. These can be competitors in your geographic area or across the globe. How are you different from your top competitors? What do you do that's unique to you? How is your branding different? Your employees? Your business practices?

Lastly, ask someone who truly cares about you what they think about your business. Could be a spouse, a close friend, a significant other. Their opinion matters because it is often more objective than those of us inside the business. An outsiders advice can take you down a path that just might lead to incredible new vistas.

Once you're done, boil everything down to its essence. Short answers now are best. Write your entire description on an index card.

This is an exercise most businesspeople do in their heads on a semi-regular basis. (I encourage you to do it on paper). These questions are simple but they are more important than ever. The web provides access to quick answers and when your business is seemingly the same as hundreds (thousands?) of other businesses then what you do can easily be outsourced with the click of a mouse. It's not merely a brave new world, it's an easily accessible new world.

I'm firmly convinced no two flower shops are the same. No two banks are the same. (Why do you choose Target over Wal-Mart for groceries?) Each have their own culture, service, brand. Sometimes we're just not good at differentiating ourselves. Knowing yourself is the beginning. In the answers lie your future marketing and potential business.

Comments

[Lon McGowan]

Bobby, great post. This is a well thought out approach to a critical exercise for all businesses. Committing these ideas to paper is essential to distilling the message. I would add that it's important to spend time asking your employees these same questions. Many times they can lend another perspective on why the company is unique.

[Bobby Lehew]

Absolutely. Would be ideal to have all people who interact with clients ask these questions of their contacts and then conduct a power session amongst employees to solidify ones value proposition ... thanks for the feedback!