How can you create a compelling value proposition for your target customers when expanding your business?

Building a compelling value proposition requires intimate knowledge of your target customers. Unearth their deepest needs, aspirations, and expectations – their pain points, goals, and unspoken desires. Leverage surveys, interviews, and data as your research arsenal. Segment them based on these insights, and watch your offering resonate with a truly magnetic power

As a seasoned sales professional with experience in both B2C and B2B, I would emphasize the importance of tailoring your value proposition to address the specific pain points and goals of SMEs and LMEs. In the B2B sector, highlighting how your product or service aligns with their business objectives and contributes to their growth can be particularly impactful. Additionally, understanding the decision-making dynamics within these businesses and customizing your approach accordingly is key to establishing meaningful connections and driving successful outcomes.

To make my business more appealing to potential customers as I expand, I'll create a clear and simple statement that explains the unique benefits of my product or service. I'll make sure to highlight how it solves customers' problems or meets their needs better than other options. Using easy-to-understand language, I'll emphasize the special features that make my business stand out. The goal is to show customers the value they'll get by choosing my brand over others.

Comprender a tus clientes objetivo es más que un ejercicio de investigación; es una inmersión en su mundo. Al expandir tu negocio, el desafío no solo radica en identificar necesidades y deseos, sino en captar las sutilezas y contextos que definen la experiencia del cliente. Más allá de las encuestas y los grupos focales, es fundamental observar cómo interactúan los clientes con productos similares y qué emociones y pensamientos surgen en esos momentos. La segmentación basada en comportamientos o necesidades es crucial, pero igualmente lo es entender las historias detrás de esos datos. Esto se traduce en una propuesta de valor que resuena profundamente con cada segmento de cliente.

La propuesta de valor debe de abarcar tanto los aspectos higiénicos, como diferenciales, es decir que resuelva un problema del cliente (otras soluciones también lo hacen) y además le ofrezca un plus en la misma, de forma que no se solo una propuesta con valor sino algo incremental.

In healthcare, truly understanding our patients' needs goes beyond mere demographics. It's about empathizing with their health journeys. As a pharmacist-turned-digital strategist, I've learned the criticality of listening to the silent cues—understanding not just what patients say but also what they don't. It's not just about selling a product or service; it's about addressing unspoken pain points in the healthcare system, nurturing trust, and delivering solutions that resonate with individuals on a personal level.

You can gather information about competition's products / services using the following methods 1) Gather information from public domain including reviews from users, current / ex-employees etc 2) Subscribe to credible analyst reports 3) Hire people from competitors to get an inside view of their products / services 4) Talk to current / ex-customers who might have used competition products to get customer's perspective KYC also stands for 'Know your Competition' !!

- Conduct a SWOT analysis for each key competitor. This helps in understanding their competitive advantage and areas where they lack. - Understand how target customers perceive your competitors. This can be done through customer reviews, surveys, or market research. - Look for unique needs or pain points among customers that competitors are not addressing. These gaps are potential areas for competition.

No solo hay que analizar a los clientes, sino a la competencia y ser capaz de tener conversaciones potentes, que nos permitan sacar cuanta más información mejor. El preguntar y obtener información relevante es muy importante para centrar nuestros esfuerzos. Muchos hacen ejercicios teóricos sin haber contado con el cliente, luego fallan.

Drawing on my experience in sales across diverse sectors, I would augment this step by emphasizing the significance of a competitive analysis in the B2B and B2C realms. For SMEs and LMEs, it's crucial to not only understand your competitors' offerings but also to identify areas where your product or service can outshine theirs. In the B2B space, recognizing the specific pain points and challenges faced by businesses in your target segment allows you to position your offering as a tailored solution. Highlighting key differentiators and showcasing how your solution addresses unique needs sets the stage for a compelling value proposition that resonates with your audience.

In my view, prospective customers should be able to 'touch and feel' your solution and value proposition during the discussions. Initial sales discussions should be less about your product or services capabilities and its USP; Instead, discussions should focus more on understanding and appreciating customer's pain points and how your product / service can alleviate those pain points. Conversing in customer's lingo, listening to customer's pain points attentively and addressing the pain points leveraging your experience and case studies is the key. Putting customer and his/her problem at the centre of universe and you playing the role of solution enabler goes a long way in establishing credibility. Hope this helps

The most compelling value proposition distinctively anticipates and exceeds target customers' needs while distinctively outperforming competitors. That said, 𝐰𝐡𝐞𝐧 𝐢𝐭 𝐜𝐨𝐦𝐞𝐬 𝐭𝐨 𝐯𝐚𝐥𝐮𝐞 𝐩𝐫𝐨𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐜𝐫𝐞𝐚𝐭𝐢𝐨𝐧, 𝐝𝐞𝐟𝐢𝐧𝐢𝐭𝐢𝐨𝐧 𝐜𝐨𝐦𝐞𝐬 𝐟𝐢𝐫𝐬𝐭 𝐚𝐧𝐝 𝐝𝐞𝐥𝐢𝐯𝐞𝐫𝐲 𝐬𝐞𝐜𝐨𝐧𝐝. Hence, CEOs should articulate their value proposition around its functional, emotional, experiential, and societal components. On top of that, it is critical to keep the other dimensions of one's business model in check —especially your firm's value chain and underlying assets— as, sometimes, the most compelling aspect of a value proposition does not lie in the value proposition itself but in its delivery.

Vender por valor y no por precio, de eso va el construir la "Propuesta de Valor", habría que hacerlo en base a los beneficios y ventajas que la misma debe de aportar al cliente, de forma que le arregle sus problemas y le dote de ventajas competitivas.

Defining a value proposition in healthcare isn't just about stating the obvious benefits. It's about articulating how your solution addresses the unmet needs that patients might not even be aware of. For me, it's been about blending the technical prowess of digital strategies with the compassionate essence of pharmacy—to create a narrative that speaks both to the mind and the heart of our audience.

People often make purchasing decisions based on emotions and justify them with logic. So, try to connect emotionally, addressing not just the practical but also the emotional needs of your customers. Also collect and display testimonials or case studies that showcase the value your product or service has brought to others. Real-world examples can be very persuasive.

Building on my sales expertise, I would stress the importance of aligning your value proposition with the specific needs of SMEs and LMEs. In the B2B realm, showcasing how your solution directly addresses their pain points, enhances efficiency, or contributes to cost savings can be particularly compelling. For B2C, connecting emotionally with your audience by emphasizing how your product fulfills their desires or makes their lives easier is key. Additionally, tailoring your messaging to resonate with the unique challenges and aspirations of SMEs and LMEs enhances the relevance and impact of your value proposition in these markets.

Given my background in sales across diverse sectors, I would accentuate the importance of tailoring your communication strategy for SMEs and LMEs. In the B2B space, leveraging targeted channels like industry-specific forums, business networking events, and personalized outreach can be effective. Highlighting case studies or testimonials showcasing successful implementations with similar businesses can build credibility. For B2C, utilizing platforms popular among your target audience and crafting compelling visuals that resonate with their preferences can enhance engagement. Aligning your communication with the unique characteristics and preferences of SMEs and LMEs ensures that your value proposition resonates effectively in these markets.

Bringing my customer-centric perspective into play, I would highlight the importance of proactively listening to customer feedback & market trends when refining your value proposition for SMEs and LMEs. In the B2B sector, maintaining an open line of communication with clients, conducting regular check-ins, and gathering insights on their evolving needs contribute to a more dynamic and responsive value proposition. For B2C, engaging with customers through surveys or social media polls allows you to stay attuned to their preferences and expectations. Planning regular reviews and updates with a customer-centric lens ensures that your value proposition continues to resonate and adapt effectively to the ever-changing landscape in these markets.

El hacer algún test, probar una landing, hacer un PMV, son cuestiones interesantes, pero es mucho más dirigirse al cliente y contrastar con él cuanto de válida es la misma. Si la prefiere por encima de la competencia y cuanto estaría dispuesto a pagar por una solución de este tipo.

The healthcare landscape is dynamic, and what might have been a compelling value proposition yesterday might need tweaking tomorrow. Continuous monitoring and updating ensure that we stay relevant, responsive, and always aligned with the evolving needs and expectations of our audience.

En una de las empresas que he estado, se elaboró una oferta destinada al mercado soho, se utilizaron simuladores, focus group, entrevistas, etc, pero fue un auténtico desastre, me encargaron averiguar porqué. Cuando analicé el producto, que técnicamente era perfecto, vi que tenía un grave problema, que no era práctico, ni fácil de usar para un autónomo o una pequeña empresa, pues no resolvía su principal problema y les complicaba bastante la operativa. Los que lo diseñaron estuvieron dos días conmigo visitando potenciales clientes, al final de la primera mañana reconocieron que estaban muy lejos de la realidad del día a día de los clientes.