Targeted value add solutioning by t.mosbaugh
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The document outlines a 3-step process called SIVA (Solution, Information, Value, Access) for customer-centric product marketing. Step 1 involves promoting a product's value rather than just its features and benefits. Step 2 is developing solutions, not just products, to drive greater value. Step 3 is identifying targeted customer needs based on personas, profiles, and where customers are in the buying process. The goal of SIVA is to start the product launch process by understanding customer needs in order to develop targeted solutions and communicate value more effectively than traditional 4P marketing.
Targeted value add solutioning by t.mosbaugh
- 3. WHAT IS IT? A Customer Centric 3-Step Process to Drive Successful Product Marketing Product Lines Businesses Start-ups
- 4. The established 4 Ps View (Product, Price, Place, Promotion) of Marketing/Selling comes at the end of the product supply process SIVA is an alternative approach to customer- focused marketing which starts at the beginning of the product launch process SIVA stands for Solution, Information, Value, Access
- 5. SIVA vs. 4Ps: Solution replaces Product Information replaces Promotion Value replaces Price Access replaces Place SIVA is the basis for Targeted Value-Add Solutioning
- 6. Targeted Value Add Solutioning (Step 1) 1. Promote “Value” not Features / Benefits Customers do not buy product features nor benefits Benefits are strictly a delivery mechanism for features Focus sales enablement tools and content marketing around the value your features / benefits bring to addressing identified customers’ needs, challenges, and pains
- 7. Targeted Value Add Solutioning (Step 1) 1. Promote “Value” not Features / Benefits (cont.) Value is measured in terms of perception more than intrinsic value The customer’s willingness to pay for a product can be based on tangible and intangible benefits Actual TOC (total cost of ownership) Cost to change or implement a new product/service Cost for not selecting a competitor’s product/service Cost are defined in terms applicable to the customer Monetary, Time, Effort, Reputation, Peer Pressure, etc.
- 8. Targeted Value Add Solutioning (Step 2) 2. Develop “Solutions” not Products Solutions can be a combination of products, services, price, messaging, and operational best practices Solutions drive differentiating value resulting in greater revenue and higher margins Solutions have less competitive pressures since competition will have difficulty matching exactly what you offer
- 9. Targeted Value Add Solutioning (Step 2) 2. Develop “Solutions” not Products (cont.) Four Samples of Solutions are: Stand Alone: a product and/or service combined with Best-of- Class Customer Service and Support Vertical Market/Niche Market Specific: a product wrapped in value-add messaging crafted for specific users Bundle: a combination of existing discrete products, services, and operational best practices into a solution possibly with promotional pricing Integrated Solution: – an offering that integrates multiple components such as products, services, processes, intellectual property, and pricing that delivers value beyond which each individual component could provide on its own
- 10. Targeted Value Add Solutioning (Step 3) 3. Identify “Targeted Customer Needs” Be the expert on "Targeted Customer Needs" and how your products are used to address the needs In addition to existing customers be sure to evaluate the needs of new prospects, vertical marketing teams, sales engineers, and channel partners (MSP, VAR, SI, Dealers) Focusing only on major customer unique needs can be dangerous
- 11. Targeted Value Add Solutioning (Step 3) 3. Identify “Targeted Customer Needs” (Cont.) Don’t confuse Personas with Profiles “Personas” focus on the “Why” of customer behavior Use to help craft messaging and inform stakeholders about the motivations behind your customers “Profiles” focus on the “What” the customers actually do Created from known facts or analyzed data Use to target marketing campaigns, find new prospects, upsell/cross-sell, creation of sales enablement tools, etc. Influencers, Users, and Buyers all have different needs Buyers are interested in the business value proposition Users are interested in how the product will solve their problems
- 12. Targeted Value Add Solutioning (Step 3) 3. Identify “Targeted Customer Needs” (Cont.) Per the Corporate Executive Board B2B buyers are 57% of the way through the buying process before they engage with a sales person Target your selling efforts to: Where the customer is within the buying process Where the customer accesses information Which channel of distribution the customer prefers
- 13. Targeted Value Add Solutioning (Step 3) 3. Identify “Targeted Customer Needs” (Cont.) Enterprise customers have different needs than SMB, SOHO or Consumer Hunter sales people have different needs than Farmer sales people Prioritize Target Customers based on Company Strategy and maximum ROI “Execute” on strategy…create KPIs to monitor progress Spray and Stay does not work
- 14. WHAT IS IT? 3-Step Process to Drive Successful Product Marketing Product Lines Businesses Start-ups
- 15. Thank You Terry P. Mosbaugh terry.mosbaugh@gmail.com