Tag Archives: value proposition

We’ve Been Busy…

Lately, we’ve been asked by customers, partners and colleagues pretty frequently about what kinds of things we’ve been working on.  We’re usually so busy creating, developing and delivering, we rarely take the time to share what we’ve been up to.  Here’s a taste of how we have helped our customers over the past twelve months.  Perhaps it will give you some ideas on new ways to tackle your own markets in 2015. We’ve had the privilege to work with some amazing companies to help do amazing things.  Give us a call – we’re happy to share more detail. 

Value Proposition Development: We worked with a global leader of next-generation information technology services and solutions to help them develop a compelling value propositionval prop mirror (3) platform for a new workplace solution tailored to different workstyles, including deskless workers, innovators, knowledge workers and more. We conducted a two day workshop, bringing together teams from product development, marketing, strategy, sales, analyst relations, and others to collaboratively develop a value proposition for the services category, as well as the individual workstyles. Post workshop, we worked with key individuals through virtual editorial sessions to fully develop, refine and test the messaging.  Outputs included a set of highly differentiated value proposition statements, top customer value drivers, quantification of those drivers, and proof points.  We then moved into a subset of vertical markets to customize the messaging platform for selected industries. 

Value Proposition Coaching: We helped a SMB Insides Sales Training company develop a new value proposition to better leverage their name and more clearly differentiate themselves in a noisy and competitive market.  In this project, we provided them with modular orientation and tools to draft each piece of the value proposition platform.  Then we reviewed and coached them through the development process.  This enabled them to create, iterate and develop a new messaging platform semi-independently, with the benefit of expert guidance and input. According to the customer, the live coaching was a value-add that enabled them to go further with the creation process than they had previously been able to on their own.

Digital Content Assessment:  Working in tandem with one of our partners, we conducted a number of digital content assessments over the past year, evaluating anywhere from  15 to over 100 content assets across a set of best practice content attributes developed and market tested by our partner. With each project, we simultaneously surveyed technology buyers in each customer’s specific target market space. Upon completion of the assessment and the survey, we then compared the results to reveal the strengths, weaknesses, gaps and opportunities of their current content asset array, and how they mapped to their buyers’ content preferences.  We also provided a set of recommendations on the top ten assets across the set, as well as ideas for content improvements, extensions, and new assets.  The end result of these projects was a digital content road map for each client to use to refine, better leverage and improve their content marketing mix to drive better target engagement.

Account Based Marketing: This year we became certified in a partner’s Account Based Marketing methodology and started jointly delivering this program to clients.  Our first engagement was with the leading global provider of enterprise software and information solutions for professional services firms and government contractors. Together we worked on a single strategic account to develop a highly customized account based campaign plan.  The program included advanced research, a workshop with the account team, marketing and product management.  Together we build a set of account imperatives (business, operational and IT based) around which we crafted potential plays to address each imperative.  Finally we created a campaign plan for each selected play to drive these new messages and enable the account team to have deeper, more solution oriented conversations to uncover and drive deeper account penetration and revenue.

conf speaker (3)Sales Enablement and Sales Kickoff Training: We built a sales enablement program for a mid-market integrated marketing services and solution company to help drive evolution in their sales team from selling predominantly print  and promotional materials to adding interactive services (digital, web, social).  This was phase 2 of a two year effort to bring the sales team up to speed in this new arena.  The program included developing a new Discovery Model geared to prospecting within existing accounts for new interactive marketing opportunities, a bundled offering strategy with sales enablement tools to help sales more easily integrate interactive services into their selling mix.  The program was initially piloted for three months with a select set of account executives, and then rolled out to the entire national sales team at their annual sales kick-off meeting. The effort t included two workshops, sales tools (Quick Reference Guides, Offering Brochures, Discovery Model, Discovery Questions), and a post training coaching program.

Strategic Content Development:  Working with a partner, we developed a set of branded content components for a global Fortune 100 technology company.  The content was used in a multi-touch campaign for a key solutions offering to drive multi-country lead generation.  Working with their subject matter experts, we developed and executed an industry survey aimed at vice presidents of IT Infrastructure and IT Operations.  The results of the survey were utilized to craft messaging in the development of an infographic, an interactive white paper, and a branded interactive assessment tool to be used by the customer’s prospect audience.  All asset and activities focused on two things: the insight of buyers, and their current adoption status, plans and expectations around potential benefits. The content was translated into 11 languages – providing the means to execute this multi-touch program globally.

New Product Launch: We helped a global information company to execute a fast-track pre-launch of the world’s largest online information source for news, insight, content and community for engineers and technical professionals.  This fast-track project demanded a 4 week turnaround of sales content while the product itself, simultaneously, was in concept development. The goal was to be able to pre-launch to their top partners at one of the most important annual trade shows in their market space.  Launch materials included value proposition development, a high-level product sheet, an internal product briefing presentation, an external partner presentation deck, and a product FAQ.

As we dive head-first into 2015, it makes sense to jump-start your sales program now, so it pays off at the end of the year.  Let’s talk.

   — Lisa Dennis

Business Models for Start-Ups Should be Grounded in Some Old School Principles

I read an interesting article the other day, about business models for start-ups.  While start-ups are not my typical client, I saw some ideas that I think could use a bit more fleshing out.  For instance, the article reads:

“The central area is the Value Proposition. In this section you must enter a value that you are determined to create and spread in the market, as well as the value you want to generate for your audience…”

I agree that the center of any new business model is a value proposition – but the reality is that there is a very mixed understanding of what that truly is.

valueIn particular, I’d like to suggest that figuring out what value you want to create FIRST, without identifying in advance the value needed/demanded from your audience is putting the cart before the horse.  Many a technology start-up has burned through their cash and shut their doors because they had a value proposition that spoke to the offer they wanted to sell, and not to what the buyer needed and was willing to buy. It’s the old “build it and they will come” theory which simply doesn’t work.

The value that the audience needs and desires comes before anything else in crafting a value proposition.  Then it should be translated into a modular platform that defines the value the audience is looking for, the specific offer(s) your organization delivers on the desired value, and finally, you need to define 1 or 2 rock solid differentiators that are quantifiable (with proof).   Smart start-ups will verticalize the value proposition into their different market segments as soon as possible so that it speaks in industry buyer language to specific industry issues, objectives, challenges.

So I agree that  business model  central area is the Value Proposition.  But it actually hinges on  a clear, well-articulated, customer-focused value proposition that is tailored by market and by audience.  Without it, the rest of the your business model canvas ends up being just busy work.

My best start-up advice is this:  start with customer, start with the customer, start with the customer.  Haven’t got a customer yet?  Vision who they should be – and work to define the value proposition they care enough to spend money on – then define/refine the offering.  Don’t waste your time and theirs on a cool idea that chases customers, rather than engages them up front.

So, what do you think is the rock that start-ups should be built upon?

— Lisa Dennis

Value Propositions Must Evolve With the Buyer

I read an interesting article the other day, called “How to Write Your Value Proposition.”value

This is good foundation information, but the buyer environment has undergone radical changes over the past 5 or 6 years.

The advent of the ‘hidden sales cycle’ (the stages of the buying process that buyers are conducting on their own, without sales people) have made the value of the  age-old value proposition formula become less and less effective.  Buyers are engaging with sales later and later in the process, getting to a short list of vendors before ever speaking to any one of them.  The pithy one sentence value proposition that is product or service focused does not work as well in that environment.

Rather than just delivering a description of the value your company brings to the buyer, we need to communicate the value the buyer seeks in achieving their goals or solving their challenge – in their language.   Buyer-centric, not product- or service-centric.  To engage the buyer in the hidden sales cycle, we must rely more and more on effective content marketing because the sales process is happening there without the sellers.  This results in an evolved value proposition creation process that fully feeds all the content needs.

We have been working with customers on developing their own value proposition playbook to deliver a messaging platform that feeds the content needs of buyers.   The game has changed – and the value proposition development process needs to move with it.

— Lisa Dennis

Most Effective Testing Methods for Value Propositions

Marketing Sherpa just republished a chart that outlined some research on how organizations test this key marketing asset.

One area that they overlooked entirely is testing by conducting live interviews with your existing customers about the value proposition.  This kind of conversation with customers can provide important information on what resonates, what is missing, what proof points are needed, how it is perceived comparatively with your competition, among other vital attributes. While online testing via landing pages, email, and other electronic options provides good data – nothing replaces live customer feedback.  In crafting messaging that brings the value proposition to life, a customer voice is essential.

Here’s the whole article.  What do you think?

 

— Lisa Dennis

The Value of Your Value Proposition

In a recent article I wrote called Time for a Value Proposition Reality Check, I discussed the three most common types of value propositions, including the most common, and least effective, type, which I designated as the “Me, Me, Me” version.  You know the kind…one that only talks about your own company and products.  Sadly enough, this is employed by businesses in the vast majority of cases. Why is it used so often, then?  Because it’s the easiest one to construct, which may not be the best reason for the choice.

So here we are.  You need to buy a product (or service), and I am trying to get you to buy mine.  You have choices.  You can buy my product, or you can buy my competitor’s product.  I want you to buy mine, so in order to get you to do so, I am going to tell you all the wonderful things I can think of about my product, and my company, and the outstanding people that I employ in order to create this great product that I want you to buy.

Now, how could you NOT want to buy my product?  You now know how great it is, because I told you so.  We can’t imagine anyone else having nearly as great a product, because they don’t have this great a company, and they can’t have the best people because I told you, WE have the best people.  So, how many of our products do you want, hmmm? While this may seem a bit sarcastic – the reality is that many value propositions do, in fact, include this type of pitch.

Obviously, the problem here is that it does not take into consideration any of the prospective customers’ needs, feelings, experiences, or knowledge.  We are not selling in the abstract here,  nor are we selling to Generic Customers.  We are selling to individuals, each as different as each of the “great people” we’ve employed.  Therefore, talking only about ourselves is not going to sell the product unless we related that greatness to what the prospective customer is seeking.  And in order to know what that is, we have to get to know the prospective customer, and see the world through his/her eyes.

The “Me, Me, Me” value proposition sees the world through the business’ eyes.  That works for a Friday afternoon internal company pep rally, but does very little to entice an educated customer.  This customer wants to know, given specific needs and particular circumstances, why this product is the right choice.  Everything else, frankly, is irrelevant.

Lisa Dennis

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