No, we’re not talking about “central venous pressure” - the pressure measured in one’s heart. We’re talking about a customer value proposition (CVP) which, funnily enough, can cause an increase in blood pressure whenever we ask folks to come up with one for their business.
So is a CVP really necessary? And if it is, how do you come up with a meaningful one?
The answer to the first question is a resounding yes! Why? Because a great CVP helps differentiate you from your competition and attracts prospective customers to your business.
Here at BusinessBlades we always say that purpose – the reason you started the business in the first place - should act as an anchor for business owner. With your purpose in mind, you then need a vision to focus you on what you would like to achieve and what the business will look like at a point in the future. And to achieve your vision, you need to build your strategic plan, keeping it on track through ongoing business planning.
Throughout this journey you must always be able to clearly articulate your CVP. You’ve all had someone ask you at a BBQ what it is that you do. Often that’s the cue for the start of a rambling, non–connected explanation of what happens when you pack yourself off to work each day.
Wouldn’t it be better if you could ‘hit a hard one back over the net’ with a nicely crafted 30 second description of why you do what you do, how you do it and what it actually is that you deliver to your customers? Imagine if your staff, customers and referral partners could all describe your CVP like that!
The second question is the tricky one. How do you come up with the ideal CVP? There are many opinions on this, all of which have varying degrees of merit. Many get it wrong and their CVP simply describes the services that the business provides. It doesn’t really compel prospective customers to select you over your competitors.
The bottom line is the CVP is not a benefits statement. It should be used to motivate a prospect to want to do business with your company. To do that the customer needs to “get you” and really understand three key things – why you do what you do, how you do it and what it is that they are going to get.
Sound simple? Didn’t think so….but don’t worry, because the team at BusinessBlades can help. We have a proven technique that will help you compose a CVP that you and your team will live and breathe by every day – even when you’re at a BBQ….