Thoughtful Thursdays - Establishing Value

I have yet to come across a marketing text that states in one from or another that a unique selling proposition (USP) or value statement is not key to establishing a successful business.

Businesses work hard to develop USP's, yet many new ventures find it difficult to make sales. Self-doubt starts to set in and before you can snap your fingers prices start to drop. So what happened to the added value.

One thing for sure is that if you do not believe in your USP, you will have a difficult time convincing anyone else to believe it.

In my experience the value statements are correct, it is for other reasons the USP is compromised in the sales process. These reasons can include:

• Being too anxious to make the sale
• Failing to clearly communicate the USP
• Incorrect positioning of the product or service
• Not understanding the buying process or sales cycle and making unecessary concessions
• Caving to the prospects price objections without confirming the situation
• Not sticking to the plan
• Fear of losing the sale

Before making a sales decision you may regret in the future, ask yourself why you are doing it and think about the consequences of that decision. There are situations where you may find it strategically beneficial to make concessions. What ever the situation, you must be sure the customer recognizes the value of the concessions and that you get something of equal value in return. Use your sales and negotiating skills to make it the "win-win" situation you hear about all the time.

Good selling.
Richard