expressed opinion entrepreneur Contributors are their own.
Your business’s value proposition is one of the most valuable tools for attracting loyal customers, potential employees, and potential business partners. A value proposition tells potential customers why they should choose your business over other competitors and demonstrates why your organization is a leader in your industry. However, presenting and guiding your company’s value proposition to the right audience is not always straightforward.
For example, there are several industry-wide factors in my line of business in the home care space that prevent my organization from demonstrating its own client results and services. Some of these preventative factors include fragmented policies in states challenging home care and a lack of standardized measures in the industry.
Beyond the preventative factor, organizations often simply use the wrong technology to enhance their value proposition, or fail to demonstrate their value to a broad target audience. As a seasoned franchise expert and founder and CEO of Home Healthcare, I’m here to guide you through leveraging data and technology to maximize your organization’s services to the right audience.
Track, record and collect
There are multiple ways to leverage technology, data, and external sources to demonstrate your organization’s value, competitive advantage, and industry-leading operations. The difficulty often lies in how your organization will acquire this data. To address this challenge, a two-pronged approach was taken. First, build a robust tracking system in-house to record your own data, service, customer sentiment and long-term results. Tracking this data is a long and tedious process that requires internal planning and execution to be done effectively. Once internal tracking is reached, align with external organizations that specialize in or have the ability to evaluate and analyze the data your organization collects.
Working with a third party is one of the most efficient ways to verify data and proof points. Align with an organization that has similar goals and values to yours and can produce the results your organization needs. Collaborate with the organization to conduct research or surveys within a broad network of participants. The results of this analysis should yield accurate results that will later demonstrate your organization’s competitive advantage. The results they produce will help demonstrate your value proposition and competitive advantage.
As mentioned above, historically, in my industry, it has been a challenge for home care providers to obtain enough data to show how the service is delivering results for our clients and reducing their costs. To publish the solution, I commissioned research from a healthcare consulting and consulting firm to demonstrate outcomes and benefits in my organization. This collaboration has resulted in hard facts and figures that reveal the competitive advantage of my brand and the effectiveness of our services. This is a prime example of how a third-party partner can bring your data to the forefront.
investment and timing
Partnering with an outside organization is a major investment, but it will enhance your company’s reputation in the long run. Plan and find a way to budget this investment into your organization’s annual priorities. Time is another factor. Getting results takes time. Your organization will need to track its data over several quarters to ensure it is accurate and illustrates a strong narrative. Once the data is tracked, develop a consistent schedule with all interested parties to analyze and publish the data.
Create a marketing plan to share your results internally and externally. This can be implemented through newsletters, press releases, social media, company websites and other externally facing platforms. Identify your key speakers who can speak fluently about analytics and look for opportunities to share these findings on large platforms or to a wide audience.
Overall, partnering with an outside organization will help validate your organization’s value proposition and differentiate your organization from your competitors. At the same time, this newly discovered information also opens doors for your organization to attract new partners, prospects and employees. Tangible data that can be analyzed will show potential clients why they should do business with your organization. This investment will expand visibility and enhance the positioning of your company’s most meaningful and critical attributes.