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Your company’s value proposition is one of the most valuable tools it has 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 among others in your respective industry. However, showing and targeting your company’s value proposition to the right audience isn’t always an easy feat.
For example, in my line of business in the home care space there are several industry-wide factors that prevent my organization from showing their results and services to clients. Some of these prevention factors include fragmented policies in states that challenge home care and the lack of standardized measures that exist in the industry, among others.
In addition to preventing factors, organizations as a whole are often simply using the wrong technology to improve their value propositions or are not proving their value to a large, targeted audience. As a franchise expert, founder and CEO of home healthcare, I’m here to guide you in using data and technology to maximize and expose your organization’s services to the right audience.
Track, record and collect
There are several ways to use external technology, data, and resources to showcase your organization’s value, competitive advantage, and industry-leading operations. The difficulty often lies in how your organization will obtain this data. To solve this challenge, take a two-pronged approach. First, set up a robust tracking system internally to log your data, services, customer opinions, and long-term results. Tracking this data is a long and tedious process and will require internal planning and execution to complete it efficiently. Once internal monitoring is achieved, align with an external organization that specializes or can evaluate and analyze the data collected by your organization.
Third party validators
Collaborating with a third party is one of the most efficient ways to validate your data and evidence. Align with an organization that shares similar goals and values to yours and can produce the results your organization requires. Work with this organization to conduct a study or survey on a large network of participants. The result of this analysis should generate accurate results which will later demonstrate your organization’s competitive advantage. The results they produce will help you demonstrate your value propositions and competitive differentiators.
As previously mentioned, historically in my industry, it has been a challenge for home care providers to get adequate data showing how services drive results for our clients and reduce costs for them. To provide a solution, I hired a health care consultancy and consulting firm to conduct a study to demonstrate the results and benefits of my organization. This collaboration has produced concrete facts and figures that have highlighted the competitive advantage of my brand and the effectiveness of our services. This is a great example of how a third-party partner can bring your data to the fore.
Investment and timing
Working with outside organizations is a significant investment, but it will increase your company’s reputation in the long run. Plan and find a way to put this investment into your organization’s annual priorities. Timing is another factor; getting results will take time. Your organization will need to track their data across multiple quarters to ensure they are accurate and illustrate a strong narrative. Once the data has been tracked, put in place a timeline that aligns with all parties involved to analyze the data and publish it.
Put a marketing plan in place to share your results both internally and externally. This can be implemented through newsletters, press releases, social media, corporate website and other external platforms. Identify your key spokespersons who can speak expertly about the analytics and seek opportunities to share these findings across a broad platform or to a broad audience.
Overall, partnering with an outside organization will help validate your organization’s value propositions and enable your organization to stand out from the competition. Together, this new information also opens up your organization to attract new partners, potential customers, and employees. The tangible data that can be analyzed will demonstrate to potential customers why they should do business with your organization. This investment will increase visibility and improve the ranking of your company’s most significant and critical attributes.