Why Should I have a Value Proposition?

Mar 4, 2022Bid Writing, Tender Writing, Value Proposition

We’ve come to an end of our value proposition (VP) month!

To finish, we’re going to review the critical importance of having a value proposition in your bids. Buyers will not buy from you if they don’t understand the problem you are solving for them, how you will deliver this, and the benefits. That’s the whole goal of your value proposition, to influence your bid responses and the win themes from start to finish. If you are not clear on it, how is the Buyer going to be?

Do I Really Need a Value Proposition?

The simple answer is YES!!! Whilst it might not seem like you need a value proposition to run your business, in sales you do. (Bids are simply a written sales document).  It is what differentiates you and makes you stand out from the crowd.  So, it is good practice to have one written and ready to go should you ever need it, as it makes it much easier to write your bids and explain the value you add for your potential clients (the Buyer).

First and foremost, your value proposition is the first impression a potential client is going to get of your business. As we all know, first impressions can make or break a person’s decision. If you want that impression to be good, that’s where a value proposition comes in for your bids!

Think back to the last time you purchased something from a company you hadn’t seen before, did you:

  • Research that company to make sure it was a legit business?
  • Look at their reviews?
  • Read a statement on their website/social media that stated how they can help you?

This is the process your potential customers will go through before they even consider purchasing from you, both through your bid and then any external sales or marketing collateral they can lay their hands on.  They will do this with multiple companies within your industry, so you need to stand out from the crowd.

If you make this easy for them, by having a clear value proposition in your bid and in each section of it which you write, this is the difference between winning and losing. It’s worth the time and effort; and even if you can’t work it out for your company – take the time to work it out by looking at your bid and the questions within it.

In summary…..

As well as the points mentioned above, value propositions can also:

  • Help your customers to quickly understand what you’re offering – If your customer is researching and they can’t easily find what it is you’re offering, they’re likely to click straight back off your website and go to a competitor. You want to avoid this, and a value proposition is perfect to have in your bid to help your customers find exactly what you’re offering in a timely manner. Great formatting and graphic design can also make this easier.
  • Support your bid responses – A strong value proposition could be the difference between winning and losing your bid. You need to be able to demonstrate value to the client, if you’re unable to tell them why they should choose you over a competitor, then why should they?
  • Helps you to win bids – You should write your value proposition so that it is relevant to the contract you are bidding for, you should explain why your product/service is the best solution. This increases your chances of attracting the attention of the buyer and showing you are the best company for the job.
  • Show how you’re different to your competitors – You should be explaining how and why your product/service is better than your competitors. Whether this be that you have 24-hour customer service, or that you use a more in-depth research process, anything you do that your competitors don’t, is beneficial to you, so use it!

We hope that this brief insight into value propositions has been helpful, and you can see the benefit. If you need any help or support in developing yours please don’t hesitate to reach out!

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Beth Yeomans

Currently an apprentice working towards a Digital Marketing Level 3 Qualification

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