Value Proposition Tool

STEPS TO CREATE YOUR VALUE PROPOSITION

1.  Research - Identify and Understand what an individual, a family, or a group values, which can be both stated and implied.
A.  Existing research
 
(1) NAR Research
a. Factors in choosing an agent for sellers
b. Factors in choosing an agent for buyers
c. What buyers want most
d. Qualities buyers prefer their agents to have
e. Satisfaction with agent expertise
 
(2) PRO Research
a. The most important services REALTORS provide
b. Challenges of NOT using a REALTOR (FSBOs)
c. Ratings of REALTOR qualities and services
 
(3) Other Research
a. What satisfies buyers
b. Internet buyers
c. Consumer pet peeves on the Internet
d. Most important reasons for visiting a website
  
B.  Personal research
 
(1) Interviews with customers/clients
a. Let customers tell you what they value
b. Important questions to ask consumers
c. Know the customer’s expected value proposition
 
 2.  Analyze your service offerings
 
 A.  What are your service offerings
 
(1)  Tasks in selling a home
(2)  Services performed for buyers
(3)  Best practices in Real Estate
(4)  Why use a REALTOR
(5)  Why you are worth your commission
 
B.  What are your core competencies 
 
C.  Identify how you create value
 
3.  Develop your key messages
 
A..  What is your key message?
 
(1) Why is the key message important?
 
B.  The elements to include
 
(1) What elements make up a value proposition
(2) Elements of a value proposition that will wow customers
(3) A model to create a value proposition
 
C. Write how your services are the solution to the client/customer/prospect’s needs
 
(1) Key marketing message formula
(2) Eight ways to sell value
 
 D.  Add credibility through testimonials
 
 4.  Test your messages
 
A.  Feedback from your peers and consumers
 
B.  Surveys 
 
5.  Refine your messages
 
A.  Keep your message relevant
 
6.  Actively gather feedback and continuously evaluate your message
 
A. Listen to what people say one-on-one
B. Establish a feedback system