Why the Vending Industry is Adapting Their Value Proposition During the Pandemic

As we slowly come out of the economic crisis that the pandemic has created, it will become increasingly important to emphasize your company’s value during your prospect calls. A value proposition explains how your breakroom offerings solve customers’ problems or improves their situations. Let’s face it, it’s not always easy to differentiate, but it is the most important first step toward an effective sales strategy.  

Differentiation is not just about price, either. Though we must be competitive, other factors, including variety in services and products, quality customer service and updated equipment also help your company differentiate itself. A solid value proposition demonstrates credibility and expertise while developing trust. Here are some tips on creating a more compelling statement to present with during your prospect phone outreach. 

Five Primary Elements Make Up a Strong Value Proposition Statement.

No. 1: It’s clear. Your value proposition should be easy to understand over a phone call and in written marketing collateral. 

No. 2: It’s thorough. It communicates any additional benefits, features and results added as a result of the pandemic.

No. 3: It sets you apart. A value proposition should show how you’re different or better than your competitors during this time. 

No. 4: It is concise. It should be understood (in about 20 seconds) to capture attention, until you have earned more time to be descriptive.  

Why Should a Prospect Buy from You During this Time?  

You may have needed to adapt your services during this time to meet your customers’ new needs. According to the Parliamentary Review, “Those companies that do have a future in the new world will be totally focused on what will bring their existing and prospective customers strategic value in the new world. They will also be looking out for what will bring them market advantage, what will bring them flexibility, and what will reduce their risks.”  

So, as we navigate our new (ab)normal, what value will your company bring to the table?  Is it PPE Vending offerings or contactless payment technologies installed on your equipment? Companies that once had thriving cafeterias may now want to hear out a micro-market concept due to reduced staff.  How can you expand on those services and hone in on how that now relates to our new reality?    How can your value propositions offer better statements than: “We’ve been around for 30 years” or “Our customer service is excellent”? 

You don’t have to be the best in every way. However, if you can show better value in at least one or two ways, you’re the best option for people who value that advantage you bring. Identify and promote what makes you different. For example, can you make the following statements (or something similar)?  

• “Half of our business activities are focused on micro markets. We understand your needs like no one else because it is such a big part of our business. Since employees would be especially interested in having fresh options at their fingertips versus having to go out for lunch, we can fill that need with fresh items such as…”  

In conclusion, consider your industry expertise to develop your value proposition. What were you able to do that your competitor could not do? Use storytelling to demonstrate problem-outcome-solution. MarketReach can help Breakroom Providers identify your value proposition and transform your B2B phone outreach to close more deals, faster!