How to Build and Market a Killer Value Proposition
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The document provides guidance on developing an effective value proposition and marketing strategy to differentiate a recruiting firm from competitors. It outlines 5 steps: 1) Identify differentiators like industry specialization, credentials, and client portfolio; 2) Determine the benefits to clients; 3) Create a concise value proposition statement; 4) Determine marketing approaches like direct mail, email, LinkedIn; 5) Commit consistently to the value proposition message across all marketing channels and materials. Effective marketing involves multiple touchpoints over several weeks to get prospects to answer calls.
How to Build and Market a Killer Value Proposition
- 1. How to Build and Market a Killer Value Proposition
- 2. How did we get here? ! Many buyers are more price conscious ! Increased role of Procurement and HR ! Companies utilize recruiting and staffing differently ! Vendor Management Systems and Master Vendor Programs ! Increased Competition ! Lack of discernible differences among recruiting firms
- 3. How do I get out of the Commodity Rat Race?
- 4. Step 1: Refuse to Play!
- 5. 4 types of recruiting firms Price Naïve Non- Participants The Powerless Low Cost Providers Control Price
- 6. What do these companies have in common?
- 7. Step 2: Adopt an Abundance Mentality
- 8. Value Proposition: The unique value a business offers to its customers
- 9. What is your Value Proposition ? • Who am I competing with? What are their strengths and weaknesses? • What makes us different/better? Is it quantifiable? • What gives us credibility? • What’s important to the client? • How can I clearly state this in 10-15 seconds?
- 11. 5 Steps to Creating your Killer Value Proposition Identify your Differentiators Determine the benefit (value) to your client Create a quantifiable value proposition Determine how to market Commit to the message
- 13. ! Identify your niche ! Use terms “Niche”, “Specialize”, “Area of Expertise” ! Get involved with the industry Industry Specialization
- 14. ! Tenure ! Certification/Awards ! Industry Background ! Create team overview for marketing and website Service Team
- 15. ! Industrial/Healthcare/Payrolling ! Rapidly growing regional company ! Executive tenure > 15 years average ! Staff tenure > 10 years ! All staff are Certified Staffing Service Team
- 16. ! Quickest way to quickly establish credibility ! Be industry-specific for greater impact ! List clients: ! On your website ! In marketing materials ! In cold calls and voice mails High Profile Clients
- 18. ! Office/Light Industrial Staffing ! The #1 Best Staffing Company to Work for in the United States ! The #1 Best Place to Work in both Atlanta and Reno ! Multi-year Inavero Best of Staffing Client Award Winner ! Multi-year Inavero Best of Staffing Talent Award Winner ! Prominently displayed on their website and marketing materials Awards/ Certification
- 19. ! Have the client be specific ! One to two sentences ! Use the client’s name, title, and company ! Ask for LinkedIn Recommendation ! Categorize by industry or specialization ! Use in everything Testimonial s
- 20. Differentiator vs. Customer Value Differentiator Value to Client Niche Industry Specialization I am partnering with an expert in the space with a comprehensive network of industry contacts Impressive Client Portfolio I am not the guinea pig. If these companies trust them with their talent needs, why wouldn’t I Strong Testimonials I can see evidence that they are a good, reputable company to work with. That makes me more confident that I’m making the right choice and minimizing my risk
- 21. Create a message that gets results
- 22. What’s wrong with this voicemail message? “Hi Mrs. Smith, my name is Tom Erb. I work for Acme Search, which is a recruiting firm here in Columbus. I noticed that you have several positions posted on Indeed and wanted to see if we could help. Please give me a call at 614-372-5888. I look forward to hearing from you.”
- 23. What’s wrong with this voicemail message? ! It sounds like every other sales message ! There is no compelling “call to action” ! No credibility building ! Phone number at end and rushed through ! It’s generic ! It’s boring
- 25. A Different Message “Hi Mrs. Smith, this is Tom Erb, 614-372-5888. My company Acme Staffing specializes in software developers for the retail clothing industry, including clients like Best Buy, Lululemon, and The Gap just to name a few. We recently completed a major recruiting project with The Gap and they stated it was the best experience they ever had with a recruiting firm. I’d like to have a brief discussion to see if you could benefit from that same level of service. I will call you tomorrow between 3 and 5 pm to discuss further. I look forward to speaking with you.”
- 26. How do I get the prospect to answer the phone?
- 27. Display your Company Name • Anonymous vs. Company Name • The rest of the tips dependent on company name ABC Search 614-555-5555
- 28. Send them a letter (or two, or three) • 24% decline in Postal Volume past 10 years • Competition has shifted away from direct mail • Creates brand awareness and builds credibility • Be creative – stay away from mass mail look
- 29. Prep them with an email • Builds credibility, brand and name recognition • The best times to email prospects are 8 am and 3 pm • Email marketing has a 2x higher ROI than cold calling, networking, or trade shows
- 30. Optimize your LinkedIn profile • Your LinkedIn Profile is a credibility reinforcement • Should be used as a marketing tool, not a resume • Increase in likelihood your LinkedIn profile will get viewed if you include a photo: 11x
- 31. Use Content Marketing • Email Marketing, Blogs, Whitepapers, Webinars/ Seminars THIS IS WHERE SALES IS GOING!
- 32. 2% 3% 5% 10% 80% 1st Contact 2nd Contact 3rd Contact 4th Contact 5-12 Contacts 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% How many contacts to make a sale?
- 33. 2% 3% 5% 10% 80% 1st Contact 2nd Contact 3rd Contact 4th Contact 5-12 Contacts 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% How many contacts to make a sale? Most sales people give up after the 2nd or 3rd call
- 34. Suspect/ Prospect Contact Schedule Wk 1 • Value Prop Mailing Wk 2 • Value Prop Email/ Intro Voice Mail/ Follow Up Email Wk 3 • Follow up Voice Mail Wk 4 • Follow up Email Wk 5 • Follow up Voice Mail Wk 6 • Content Email Wk 7 • Follow up Voice Mail Wk 8 • Content Email Wk 9 • Content Voice Mail Wk 10 • “Backing off” Email
- 35. Results! “A GIANT woohoo…in the last week, I’ve signed contracts with BOTH {Company A} AND {Company B}…both success stories from the sales process… beginning with the mailer. There are a lot more success stories that have happened and that are in process…but I thought these well worth mentioning!”
- 36. Marketing your Value Proposition ! Be consistent ! Be unwavering ! Use multiple sales and marketing avenues ! Website ! Marketing Materials ! Phone Call and Voice Mail Scripts ! Proposals ! Presentations
- 37. 5 Steps to Creating your Killer Value Proposition Identify your Differentiators Determine the benefit (value) to your client Create a quantifiable value proposition Determine how to market Commit to the message