Help Your Customer Pick You with a Great Value Proposition

Help Your Customer Pick You with a Great Value Proposition

Help Your Customers Pick You

When you are deciding whether that new flat panel television you are eyeing up is worth the money, how do you decide? Well, it depends. (yeah for all of the engineers who have given me that answer to EVERY question I have asked over the years!). iCanPilot has a fun marketing tool that will help you get into your customers' shoes and figure out how to get them picking you when they purchase.

Do you have a flat panel tv right now and are hoping for a better viewing angle or image quality?

Are you not that in to tv so still have your old black and white 13 inch picture tube that has worked just fine when you need it?

Are you thinking about putting a tv in a space that doesnt have one now in your house?

When you have to decide the value of purchasing something, you compare the new choice to your best alternative.

This could be a competitive product: If you have a Vizio flat panel now, you may want to check out Sonys and see what you get for more money.

It could be a substitute equivalent: If you dont watch much tv and are in the market for home entertainment, Sirius radio may catch your eye (or ear).

Or the comparative alternative could be nothing: You dont have a similar product now and are evaluating whether you need one at all.

When your customers decide whether your product is worth buying, they may be comparing from one of these three different scenarios too. When your value proposition falls on deaf ears with customers, it could very well be that you are touting that you are superior to a competitive option that they dont even consider.

As part of iCanPilots project software to help you design your value proposition, we help you think through what the Best Alternative or Substitute Equivalents may be. Start with what the top choices are for each of the three scenarios. Then make sure you understand, why did customers make the current choice they have? That is an eye opener and a great brainstorming and research activity for your team. If you would like to use our software to do this exercise with your team, we have even made a free web-streamed version for your use. You can find it on the Resources page of the iCanPilot website.

Just like you compare whether you need something new to what you already have to do the job, so do your customers. Taking 15 minutes to determine how your customers decide whether to pick you can make a world of difference for your business success.

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