Monday, 17 January 2011

The 3 Key Parts to a DVP- tuning into the Buyer's favourite radio station WWIDFM

(Object d'arts from the Melia Hotel Seville)

The most fundamental question a client has in their mind is “What will it do for me?”

Some buyers will brazenly ask it outright of a salesperson but all are at least thinking that question as they listen to our offering.

The question can be split into three parts which we can analyse in detail.

If we can give a detailed response to the question the more persuasive, appealing and relevant our offering will be to our Buyer.

1............................ 2.............................. 3

What.................... will it do ....................for me ?

IS......................... DOES......................... MEANS

Features/Facts....... Benefits....................Personalised Benefits

Differentiated Value Propositions (DVP) are a client motivation discipline which enable you to communicate your whole offer ( not just your product or service itself) in the most attractive, cogent and pertinent approach.

The exercise of DVP must be part of your sales preparation and training so that when you are subsequently in front of a (potential) customer you have all the information and ‘ammo’ you need to select the most telling points and communicate them in the most effective way.

The three parts of a DVP (client motivation)

Part 1: ( The “IS “)
Firstly identify all the facts and features of:

• Your real product/service
• Your organisation
• The ‘package’ which you offer your clients
• These facts/features must be exact, preferably measurable, and capable of being proven.

Part 2: (The “DOES”)
Extend these facts/features into results or benefits. Facts/features state what something is; results/benefits state what something does, or what is its effect.
A good way to derive lots of features in your DVP is to challenge yourself several times with the challenging questions “So What ?1” , “So what?!” , “So what ?!”

Part 3: The “ MEANS”
Interpret these results/benefits into motivators or Personalised benefits. ( * TACK International use the expression You-Appeal. My delegates on courses tend to ‘corrupt’ it into “Hugh Appeal!”)

Discern how they can be communicated to your customer in such a way as to appeal to both their rational (e.g. gain or saving of money, functionality, security, safety etc.) needs and/or emotional (e.g. ego, loyalty, pleasure, fears, sentiment etc.) wants. The link phrase for effective interpretation is “...which means that you (or your)...”. Remember you are personalising the benefit with a “wraparound” statement that relates to your customer’s needs.
One of he ways to generate good “Hugh Appeals” is respond to several challenges of “ What does that mean to me?!” , “ What does that mean to me?!”, “ What does that mean to me?!”.

Features/Facts Benefits Personalised Benefit
( Hugh Appeal)
Is Does Means

Each benefit is tailored to your client’s situation by using the phrase “which means that you or your” – the word ‘you’ puts your client in the centre of the benefit picture. In other words your presentation becomes a more persuasive communication and in tune with the client. It ‘resonates’ better with your client.

Competitor comparison
In order to motivate a client or prospect to buy from you, they need to appreciate not only that your DVP is good in itself, but also that it is the most cost effective offer for the business and preferably also the most personally suitable one for them too.

While it is unprofessional and unacceptable to ‘rubbish’ your competitors directly, DVP enables you to compare favourably with them in two ways:

• by communicating your offer in a professional fashion it will create a much better psychological impression than a badly presented case from a competitor.

• by stressing on those features/benefits which are exclusive to you, or which are your greatest relative strengths, then indirectly you will show how you are better than your competitors.

The practical use of DVP
You are not doing the full analysis to enable you to swamp every client with information whether they want it or not. You do it to ensure that you are fully conversant with the implications of your total DVP, and so that you are in a position easily to bring to mind the points that will appeal most to a specific individual. You must also provide evidence that you can meet both their business needs and their personal ‘wants’.

DVP will enable you to communicate your key points to your client so that your presentation is:

• Logical
• Credible
• Comprehensive
• Motivational
• Distinctive

1 comment:

  1. Fantastic advice! very clear, easy to understand and practical.... exactly what I have been looking for. Love your posts :)