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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 prospects why they should choose your company over other competitors and proves why your organization is a leader among others in your respective industry. However, presenting and directing your company’s value proposition to the right audiences is not always easy.
For example, several industry-wide factors exist in my home care line of business that prevent my organization from showing its own results and services to clients. Some of these preventative factors include fragmented policies between states that challenge home care and the lack of standardized measures that exist in the industry, among others.
Besides the preventative factors, organizations often simply use the wrong technology to improve their value propositions or fail to demonstrate their value to a large targeted audience. As a seasoned franchise expert, founder and CEO of home healthcare, I’m here to guide you in using data and technology to maximize and present your organization’s services to the right audiences.
Track, record and collect
There are many ways to use technology, data, and external resources to display your organization’s value, competitive advantage, and cutting-edge 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 record your own data, service, customer sentiment, and long-term results. Tracking this data is a long and tedious process and will require internal planning and execution to complete it effectively. Once internal tracking is achieved, align with an external organization that specializes or has the capacity to assess and analyze the data collected by your organization.
Partnering with a third party is one of the most effective ways to validate your data and proof points. Align with an organization that shares similar goals and values to yours and can deliver the results your organization needs. Work with this organization to conduct a study or survey with a wide network of participants. The result of this analysis should generate accurate results that will later demonstrate your organization’s competitive advantage. The results they produce will help demonstrate your value propositions and competitive differentiators.
As mentioned above, historically in my industry, it has been difficult for home care providers to obtain adequate data that shows how services are driving outcomes for our clients and reducing their costs. To come up with a solution, I commissioned a healthcare consultancy and consultancy firm to conduct a study to prove the results and benefits for my organization. This collaboration produced concrete facts and figures that highlighted the competitive advantage of my brand and the efficiency of our services. This is a great example of how a third-party partner can put your data first.
Investment and timing
Working with outside organizations is a big investment, but it will improve your company’s reputation in the long run. Plan and find a way to budget this investment into your organization’s annual priorities. Timing is another factor; getting results will take time. Your organization will need to track its data across multiple quarters to ensure it’s accurate and illustrating a strong narrative. Once the data is tracked, set up a schedule that aligns with all parties involved to analyze the data and release it.
Set up a marketing plan to share your results internally and externally. This can be implemented through a newsletter, press release, social media, company website and other external platforms. Identify your key spokespersons who can speak expertly about the analysis and look for opportunities where they can share those findings on a broad platform or to a broad audience.
Overall, partnering with an external organization will help validate your organization’s value propositions and set your organization apart from its competitors. At the same time, this new information also enables your organization to attract new partners, potential customers and employees. Tangible data that can be analyzed will demonstrate to prospects why they should do business with your organization. This investment will increase visibility and improve the positioning of the most significant and critical attributes of your business.