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The value proposition is what benefits you offer your customers at what relative price. The elevator speech is a very short verbal description of your company. An elevator speech might include the value proposition, but not in so many words; and it doesn't have to.
In a value proposition, the person is certain about the quality of the product or organization, and which can be associated with the factors of the products established repute and percentage of usefulness to its user. And you are offering a product, or your valued proposition,As by its name elevator speech, it is a speech which can deliver about any information delivery scenario, for a very short period of time.
Main difference is the value proposition has at its heart one key element – CUSTOMISATION (Rule number1 about value = value means different things to different people).
Therefore the value proposition, or what you propose for THIS customer, is going to change, frequently. The point about the exercise we run in our sales training classes (the Natural Training Value Proposition Generator) is that people need to keep the5 elements in mind when constructing one in their heads, or before they enter a negotiation. For example, if there is no proof (one of the elements), then the prop is reduced in value, and therefore less effective.
Elevator pitches are more “spray and pray” – to be used and said with enthusiasm and pride anytime to anyone to help them understand WHAT you do, and importantly, WHY you do it. Yes, it may contain the value that you bring to the world, but that value will be more generic.
A couple of really short examples:
•Google delivers internet search to the world (elevator pitch)
•Google delivers leads that cost £2.30, yet deliver £55 each sale, to Andrew’s Shoe Store in Norwich (value proposition).
Hi Sir..
The value proposition is what benefits you offer your customers at what relative price. The elevator speech is a very short verbal description of your company. An elevator speech might include the value proposition, but not in so many words; and it doesn't have to.
A value proposition consists of the sum total of benefits which a vendor promises a customer will receive in return for the customer’s payment. And it defines an elevator pitch as a short summary used to quickly and simply define a product, service, or organization and its value proposition. One would be expected to deliver the summary in the time span of an elevator ride, or approximately thirty seconds to two minutes highlighting unique aspects of your service or product in a way that excites others. In other words, you should start with your value proposition, because even your elevator pitch will include your value proposition.
Rgds
Rajiv
A value proposition consists of the sum total of benefits which a vendor promises a customer will receive in return for the customer’s payment. And it defines an elevator pitch as a short summary used to quickly and simply define a product, service, or organization and its value proposition"
Briefly explained, a value propostion is the company statement that identifies what benefits customers will receive from buying its product or service, despite an elevator speech is a brief statement addressed to a potential customer (within a short time-around1 min) about the company product/service and values.
It is recommended to have a value proposition included in the elevator speech.
Main difference is the value proposition has at its heart one key element – CUSTOMISATION (Rule number1 about value = value means different things to different people).
Elevator pitches are more “spray and pray” – to be used and said with enthusiasm and pride anytime to anyone to help them understand WHAT you do, and importantly, WHY you do it. Yes, it may contain the value that you bring to the world, but that value will be more generic.
Without a strong value proposition, it’s much harder to sell your products or services in today’s economy. A value proposition is a clear statement of the tangible results a customer gets from using your products or services.
An elevator speech is a short,1-2 sentence statement that defines who you work with (target market) and the general area in which you help them.
