What is a Value Proposition? The answer: 1st place.

Feb 7, 2022Bid Writing, Tender Writing

The Advantage of a Value Proposition for Bids  

A value proposition can come in many shapes and sizes. To put it simply, it’s a short statement that tells a customer the main reason your product or service is their best option. They need to know how you solve their problems and make their world a better place.

So why do you a value proposition for bids? 

If you don’t understand your value, then how do you explain it to customers?

You must be able to tell them how, and what, you do adds value for them. It’s critical for bids to help you explain to clients why they should choose you!

Why You Need a Value Proposition

Your value proposition is likely to be the first thing your potential customers encounter when researching your brand.

It sets an expectation of how your company works and the results they will receive from you. It’s also likely that your prospects will use your statement to evaluate the company and see how good of a fit you could be to them.  It tells them what you do and how you will solve their problems, and support their needs, if they spend money with you.  

If you can’t explain that to your customer, how can you hope to explain the value you bring within your bids? How can you help them connect and  make the decision to select you when they are evaluating your bid?  

This is why your bid team should want to know what your value propositon is. o know. What’s your value proposition, why are you unique and better at solving a client’s problems and needs than others?   

But to be clear; this isn’t your unique selling proposition.

It is the value you add to the client that puts you a cut above the others, ideally in no more than one to two sentences. This diagram explains what a value proposition is in simple terms:

Venn Diagram showing the parts of a value proposition

If you understand that, or your bid team can help define that with you, you’re already leagues above the others, particularly when you can back this with evidence of depth and delivery in your business.  

Why a Clear Value Proposition Helps Your Bids

At Bid for Success, we work to develop Value Propositions with our customers.  We want to know who they are and why they are special, but more importantly how this helps your potential client. We have developed specific processes, like our deep dive and solution architecture, to help you set yourself apart.   

We, and any good bid writer, should know that your value proposition needs to be seen amongst your target audience. You should communicate it directly to them by having it within your website home page or by sharing it across your social media pages. It needs to be in your bids and your sales collateral.  

And that’s just the start… once you understand your value proposition it feeds into everything you do as a business, from your company culture through to how you work. Everything your client sees and feels from you should validate that you are the team they want to work with. 

For that reason, we are going to spend the next few weeks on our socials talking all about value propositions, helping you get to grips with them and why you need one. We are going to talk about how to build one and then help you create one, all with the goal of taking this into your bids to create a winning value proposition for your clients. 

Getting Started: the Top Features of a Value Proposition

With all the points about value propositions in the marketplace, we want to simplify how you get started building one. To get you thinking we have included three questions that we use with our customers that will be helpful to construct a value proposition in latter weeks.  

The core points of any great value proposition always seek to answer these questions: 

  • Define what your company does – are you in the construction industry? Great! Include that. 
  • Explain how you resolve your potential customers problem – Think about your current customers, what struggles did they have before you helped them?  
  • Answer the question ‘Why should I buy from your instead of your competitors?

Keep a piece of paper, or a word document, and start thinking about the answers to those points. In upcoming blogs you’ll want to come back to this work to help you build your own value proposition for your company or service.   

The work will be worth the effort, which is why we’re dedicating 5-weeks to this topic.  We know a good value proposition could be the difference between your next winning contract, or just missing out on the one you really want.   

Still Struggling?

In the meantime, if you need more support, or simply do not have the time to construct your value proposition, please reach out. Value propositions do not have to be overwhelming and creating ones for your bids is more straightforward than you think. Contact us at hello@bidforsuccess.co.uk for further guidance.  

Bid For Success

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