Creating a clear Value Proposition for Your Psychometric Services


April 4, 2022

Your company’s value proposition is quite simply the value you can deliver to a customer - it’s the ‘promise’ you make to your customers. For psychometric services, that could be something like providing bespoke psychometric assessments to recruit better fit employees.

Here’s an example of a value proposition:

For internal recruitment teams who are frustrated by high staff attrition rates and poor-quality new recruits, our sales-focused psychometric assessment highlights strong candidates and removes poor-fit candidates with a robust, measurable and repeatable assessment process. Unlike our competitors, we only focus on assessing salespeople.

This example explains who the product/service is for, what the product is and what it provides and gives a reference to the competition. This is the sort of format that your value proposition might take - it needs to be clear to those in the business and should be recognisable to customers and those that know the business.

 

How do you create a value proposition that everyone understands?

Although it sounds obvious, it’s really important that you fully understand the value that your company is providing, as well as how you can effectively communicate the value to internal and external stakeholders.

The structure above describing ‘who’s it for’, ‘what’s the product/service’ and ‘the value provided’ is a good format to start with as it gives an idea for what needs to be included in your value proposition. 

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Following on from this, there are a number of questions you can ask to help create your value proposition:

  • Who are you trying to sell to?
  • What customer problems do you solve?
  • How do you stand out?
  • Why do your existing customers work with you?

Remember, when creating your value proposition using the above questions, it’s key to use clear, succinct and accurate language and keep it straightforward to make sure all who read it understand it and associate it with your business.

 

Think about the problems you’re solving

It’s not enough to just know the product or service your company offers, you need to know the problems you’re solving and ensure your value proposition alludes to this. 

Remember, sales is always only ever about solving problems, and this is always what buyers are looking to achieve.

For a psychometric service, some of the problems you’re solving might include:

  • Reducing staff turnover
  • Recruiting better fit employees
  • Freeing up management time in early interview stages
  • Providing a fixed, repeatable, and scalable framework environment for running assessments
  • Giving management a way to evaluate people for promotion or bonuses and compensation
  • Providing partners with a tool kit to grow their own businesses

Once you’ve drafted your value proposition, sense-check it with other people in the business or ask people externally who know your business well - essentially, you want to confirm that your value proposition matches up to how others see you and that they agree with what you promise. 

 

To find out more, download your FREE copy of our new guide 'How to Build and Scale Your Psychometric Service':

Unpack, promote, describe and craft the best psychometric service possible with our new guide! Download your FREE copy now.

Richard Anderson - Co-Founder

Passionate about people, software and assessment. Always wanting to learn more.