Step 3: Your Value Proposition and Target Market
You've made it to Step 3 of your 7-Step Sales Plan. Are you getting into a groove now?
In this step, we're going to talk about your target market and value proposition. Again, this might feel like we’re going to back to basics, but you need to get this part right to be successful in sales. It is vital to understand who your target customer is and how your product or service can provide value to them BEFORE you start selling.
Your Value Proposition
A value proposition promises how your product or service will benefit your target buyer. It is a critical component of your sales plan, as it communicates the value you provide to your prospects.
While the term is overused, it remains a crucial aspect of effective marketing. By understanding your value, you can create sales messaging that focuses on the customer rather than yourself. This ensures your messaging is not self-serving and instead focuses on how you can help your customers.
Speaking of who you’re going to help...
Your Prospects
"Target buyer" refers to a specific group of consumers or individuals you are trying to attract and market your products or services. This group shares similar buying characteristics and is likely to be highly interested in what you’re selling.
Target buyers can be identified based on several factors such as age, gender, income, geographic location, interests, behaviors, values, and situational circumstance. By understanding the characteristics of your target buyer, you can tailor your marketing efforts to effectively reach and persuade them to make a purchase.
Your task for today is to define your target market and value proposition. Ready? Great.
Dive into our Target Market and Value Proposition worksheet and follow the prompts.
Once you've done that, consider sharing your value proposition with others in our Facebook group to gather feedback and gauge their reactions. If you’re feeling stumped or don’t think your definition is clear enough, ask the group to help you narrow it down.
See you for the next lesson when we start talking networks and how important yours is.
