Economy · August 5, 2022

Write value propositions that sell

THE most common question a potential member of an association asks is, “What value do I get from being a member?” From the point of view of the association, it is about planning, developing, organizing and communicating its value proposition.

Because the value proposition is a key component of an association’s business model, the Philippine Council of Associations and Association Leaders (PCAAE) recently conducted a webinar on “How to write value propositions that sell.” The speaker was Dr. Michael Tatonetti, founder and CEO of Atlanta, a US-based pricing firm for associations whose mission is to advance associations in their pricing models for financial sustainability.

Michael presented a five-step process your team needs to decide what to do with the product and its price and how to sell the value to your listing.

Step 1: Define the value you give internally. This would be both quantitative and qualitative. Quantitative value propositions are based on a numerical ROI that can be documented and delivered, for example, an exhibit that ensures attendees will meet 50 exhibitors or a leadership program that provides three competencies to attendees. Qualitative value propositions are based on things that cannot be quantified, for example, a networking event that builds business relationships or a professional development program that advances your career.

Step 2: Find out more value externally. This could be done through market research of participants and market research of sponsors. For market research of the participants, the methods you can use include surveys, focus groups, and phone calls with key leaders. Ask them what’s important to them and how they appreciate it. At the end of each meeting, quantify the value and don’t be afraid to ask for feedback. In short, you have to sell the value well.

For market research of sponsors, methods may include phone calls and meetings with potential sponsors. Ask what they like most and why until you get to the heart of the matter. If the sponsor’s goal is to collect at least 50 leads, be prepared to respond or negotiate. In short, this is a B2B sale, so you need to quantify the value.

Step 3: Write your value proposition. Using a virtual event as an example, you can write the following value proposition to attendees: “Unlike our live event, you can access every single session live and on demand, so you don’t have to rush between sessions and make decisions in one. split second. “or” Participants will have access to all 40 sessions – a 250% increase in training and knowledge! “

For the sponsors: ‚ÄúThere is no need to install assembly booths for sweat equity. We will set up your landing page with a demo scheduling tool so we can bring the leads straight to you! or “We are proud to go from 500 onsite attendees, 50 of whom could be great leads, to over 2,000 subscribers, quadrupling our lead source pool.”

Step 4: Measure the value for the price. This can be achieved by understanding your segments and conducting a final market test with price and value propositions to ensure marketing and sales are ready before launch.

Step 5: communicate and sell. This can be done through sales pages, emails, and content marketing. Some tips: share an evolving story, eg. “We heard you …”; highlight their qualitative and quantitative values; think about your FAQ; have a video demo or beta testimonials for the buy-in.

Octavio Peralta is currently the Executive Director of the United Nations Global Compact Network in the Philippines and the founder and volunteer CEO of the Philippine Council of Associations and Association Executives. E-mail: bobby@pcaae.org.