Built to Grow

Chapter 7Compelling Value Proposition Strategy

‘Why should I buy from you?'

This is a question that every business leader, business owner, and entrepreneur must ask every day across their entire customer lifecycle: starting with customer acquisition, through maximization, and finally retention.

Why? Because in a fiercely competitive world, your competition is trying to poach your customers; competitors that you could know well, new entrants appearing from nowhere, and old rivals who suddenly seem to have got their act together and are on the offensive. It is ultra competitive, and complacency is not an option.

Having a good product or service won't cut it. You've got to have a great product and service. Educating your potential, new, and existing customers about your products and services must be an integral part of your Compelling Value Proposition (CVP), making you stand out from the crowd and contributing to your distinct competitive advantage.

So . . . how compelling is your compelling value proposition?

What Customers Really Care About

Do you think your value proposition is powerful? Would your existing customers and prospects agree? Usually when I ask business leaders, owners, and entrepreneurs those same questions their CVP is anything but compelling. They have difficulty articulating their proposition in a clear, concise way, which means they tend to launch into a lengthy description of their business model.

But that's not what customers care about. Customers not ...