If you’re an MSP owner, you know that you can help other people’s businesses. You understand, inherently, that your services and products have value. If they didn’t, then why would your company exist? Unfortunately, if you can’t explicitly and succinctly explain what makes your services valuable potential customers aren’t likely to give you a chance to help them. This is where a strong value proposition comes into play, providing you with a tool to make the most compelling case possible for why a customer should care about your MSP and choose to work with you.
WHAT IS A VALUE PROPOSITION?
A value proposition, also known as a Sales Value Proposition (SVP), is a statement that defines how your products or services benefit customers and why it is better than all the other options available to them.
WHY IT’S IMPORTANT
A value proposition homes in on the unique features and benefits only you can provide and describes precisely how you can solve customers’ problems and improve their lives. It is a crucial centerpiece in the sales process that helps you and your team to persuade potential customers to purchase your products or services.
HOW TO CREATE A VALUE PROPOSITION
To create a value proposition that fits your specific business, you’ll need to:
Identify your target market
Who, exactly, are your target customers? What are their pain points? It’s time to drill down and find out. Surface-level answers won’t cut it. Supplement what you know from experience with research and data. Create buyer personas and identify a detailed profile so you know exactly what they are looking for in an MSP.
Define your Unique Selling Points.
Once you understand your target market, you can identify your business’s unique selling points (USPs). USPs are features or benefits that set you apart from your competition in the eyes of your target customer. These could include:
- Expertise: Your MSP has the foremost experts in the business with a combined level of experience that allows them to resolve issues faster than other companies.
- Security: Your MSP has a stand-out record in cybersecurity and understands the threat landscape better than other companies.
- Scalability: Your MSP offers a broader array of customizable packages and services than other MSPs, allowing customers to quickly scale up and down to match their current business level.
- Industry-Specific Focus: Your MSP caters to a specific vertical and therefore has more knowledge and solutions to help companies in this field.
These are just examples, so think about your business and identify the singular way you can benefit your target customers more than other MSPs on the market.
Get clear and concise.
Remember that you’ll need your salespeople to be able to quickly relay this statement to decision-makers who probably only have a few moments to spare. It’ll also appear on your website and in your marketing materials, places where attention will wane quickly if you don’t get to the point. Combine your research on customer pain points, and the needs of your target market, and your USPs to create a brief description of your business that can be communicated and understood in the shortest amount of time possible.
Test and refine.
Share your statement with your team and potential customers to see if it resonates. You should be willing to receive feedback that might improve your value proposition until you’ve optimized it. You are defining your value in the marketplace here, so keep going until you’ve got it right!
If this process still seems daunting, consider getting some expert help. As a 100% MSP focused sales training service, OSR Manage is uniquely equipped to help you figure out how to highlight all the ways you can stand out from your competition. Contact us today.