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Your business value proposition is one of the most valuable tools for attracting loyal customers, potential employees, and potential business partners. A value proposition tells consumers why they should choose your business over other competitors, and demonstrates why your organization is a leader in your industry. However, showing and directing your company’s value proposition to the right audience is not always easy.
For example, there are a number of factors in my line of business in the home care space that prevent my organization from showing the results and services of its customers. Some of these preventative factors include fragmented inter-state policies questioning home care and the lack of standardized measures in place in the industry, among others.
In addition to preventing factors, organizations often use the wrong technologies to improve their value propositions or do not show their value to a wide target audience. As an experienced franchise expert, home health care founder and CEO, I am here to continue to use data and technology to maximize and demonstrate your organization’s services to the right audience.
Follow, record and collect
There are many ways to use technology, data, and external resources to demonstrate your organization’s value, competitive advantage, and industry-leading operations. The difficulty lies in how your organization will get this data. To solve this challenge, take a two-pronged approach. First, set up a robust internal tracking system to record your data, services, customer sentiment, and long-term results. Monitoring this data is a long and tedious process and will require internal planning and execution to be completed effectively. Once you have internal tracking, align your organization with an external organization that has the ability to evaluate and analyze the data collected.
Partnering with a third party is one of the most effective ways to validate your data and proof points. Align yourself with an organization that shares similar goals and values to yours and can deliver the results that your organization requires. Work with this organization to conduct a research or survey on a wide network of participants. The results of this analysis should lead to specific findings that will later demonstrate the competitiveness of your organization. The results they produce will help to demonstrate value propositions and competitive distinctions.
As mentioned earlier, historically in my industry, the challenge for home care providers has been to get the right data on how services are delivering results to our customers and reducing costs. To provide a solution, I commissioned a health care and consulting firm to conduct a study to demonstrate the results and benefits of my organization. This partnership created strong data and figures to shed light on the competitive advantage of my brand and the effectiveness of our services. This is a prime example of how a third party partner can take your data to the next level.
Investment and time
Working with outside organizations is an important investment, but it will increase your company’s reputation in the long run. Plan and look for this investment to budget for your organization’s annual priorities. Time is another factor; it will take time to get results. Your organization will need to keep track of your data for several quarters, to be accurate and to illustrate a strong narrative. Once the data has been tracked, set a timeline that matches all the aspects involved in analyzing and publishing the data.
Use the data
Set up a marketing plan to share your results both internally and externally. This can be done through a newsletter, press releases, social media, the company’s website, and other external platforms. Identify your lead spokespersons who can talk expertly about analysis, and look for opportunities to share these findings on a large platform or in front of a wide audience.
In general, partnering with an outside organization will help you validate your organization’s value propositions and allow your organization to stand out from the competition. This found information also opens up your organization to attract new partners, customers, and employees. The tangible data that can be analyzed will show prospects why they need to work with your organization. This investment will increase your visibility and improve the position of the most significant and critical features of your business.