Building a Value Proposition; Your Strategy, Your Brand And Your Business
Download as PPT, PDF23 likes11,655 views
The document discusses the importance of developing a unique value proposition as a key component of effective business strategy. It outlines how a value proposition should reflect a company's actual capabilities and align with the needs of the target market, while also emphasizing the necessity of clear communication with customers regarding the benefits of products or services. Key steps include understanding customer preferences, assessing internal strengths and opportunities, and ensuring clarity in marketing to differentiate from competitors.
![Your value proposition must be a statement of what you actually are – not just something you aspire to become. Your value proposition must exist in the interface between a company’s ability to deliver a product or service and the perceived needs and desires of a targeted market segment. Your value proposition must be rooted in a deep, certain knowledge of [your] targeted customers and a realistic appraisal of [your] own capabilities. Just The Facts please…..Just the facts.](https://image.slidesharecdn.com/buildingvaluepropositionyourstrategyyourbrandandyourbusiness-13154760985337-phpapp02-110908050800-phpapp02/85/Building-a-Value-Proposition-Your-Strategy-Your-Brand-And-Your-Business-8-320.jpg)
Building a Value Proposition; Your Strategy, Your Brand And Your Business
- 1. DVIRC 2905 Southampton Road Philadelphia, PA 19154 Building Your Value Proposition; Your Strategy, Your Brand, Your Business. Presented By: Chris Scafario
- 2. How Are you Unique? You can not have an effective business strategy if you are not able to successfully answer this question.
- 3. We Have Good People We Have Good Quality We Are Always Near or On-time With Delivery We are Not the Cheapest-But Not the Most Expensive That’s What He Said Did your answer start with any of the following?
- 5. If you were in the market for a product or service from any of the previous companies the odds are you would: take quality and on time delivery as a given understand the relative value of your purchase be less inclined to care about the “likeability” of their workforce And they would not expect anything different……
- 6. Getting to the Value Equation: Perceived Value = Benefits - Cost (Risk)
- 7. Defining a Value Proposition: A value proposition can apply to an entire organization , or parts thereof, including: individual customer accounts, products and/or services . A value proposition is a promise of value to be delivered and a belief from the customer of value that will be experienced. Creating a value proposition is a fundamental part of business strategy and every good strategy is based on a differentiated customer value proposition .
- 8. Your value proposition must be a statement of what you actually are – not just something you aspire to become. Your value proposition must exist in the interface between a company’s ability to deliver a product or service and the perceived needs and desires of a targeted market segment. Your value proposition must be rooted in a deep, certain knowledge of [your] targeted customers and a realistic appraisal of [your] own capabilities. Just The Facts please…..Just the facts.
- 9. Warning! PLEASE AVOID: PLANNING, WRITING, OR PROMISING ANYTHING THAT YOU WON’T BE ABLE TO EXECUTE AND DELIVER FLAWLESSLY. IT CATCHES UP TO YOU
- 10. . Nothing catches customer attention more than telling what YOU will do for THEM! And, It’s not boasting when you deliver….
- 11. What do you give customers in exchange for their time, money and effort? Today’s customers demand a good reason to spend their cash. “ AutoZoners pledge to always put customers first! We know our parts and products. Our stores look great! We've got the best merchandise at the right price. " vs.
- 13. Your Promise to Customers Requires an External Focus. Its not just about the resources you have; it is how you sell them. “ AutoZoners always put customers first! We know our parts and products. Our stores look great! We've got the best merchandise at the right price. " Positions “Zoners” as Experts and conveys to the customer what they will receive in exchange for their time, money and trouble. Closes with a focus on quality and value. This Customer Promise is also a useful tool in communicating corporate expectations across an employee base that spans thousands of people. It is simple and it is selfless.
- 14. Switching Gears…
- 16. The collection of data by means of the senses The analysis and synthesis of data to form one's current mental perspective The determination of a course of action based on one's current mental perspective The physical playing-out of decisions
- 17. Competitive Landscape Market Reconnaissance Customer Intelligence Opportunity Mapping Competitive Analysis Critical Asset v. Liability Assessment Competency /Opportunity Matching Observe Orient Decide Act Strategic Maneuvers Outreach Management Marketing Support Lead Generation Situational Awareness Growth Planning Charting Hi-Impact Actions Prioritizing Objectives Sharpening the Value Equation
- 18. Strengths (internal) Weaknesses (internal) Opportunitie s (external) Threats (external) Your SWOT’s Role in The Value Equation….
- 19. Strengths Think of your internal Attributes…Can you Identify: advantages of your unique proposition? demand for existing capabilities? distinct competitive advantages? USPs (unique selling points)? a breadth of resources, assets and/or people? excellence in experience, knowledge, data? plentiful financial reserves, likely returns? successful marketing - reach, distribution, awareness? innovative aspects in your business? location and geographical advantages? price, value, quality advantages? accreditations, qualifications, certifications? processes, systems, IT, communications? cultural, attitudinal, behavioral advantages? a well-rounded management team?
- 20. Opportunities Think of potential external market advantages…Can you Identify: areas for market development? competitors' vulnerabilities? up-and-coming industry or lifestyle trends? next generation technologies or innovations? new markets: vertical, horizontal? niche target markets? global markets to export to or import from? new USPs (unique selling points)? business and product development? partnerships, agencies, distribution? production efficiencies / economies of scale? seasonal influences in purchasing behavior?
- 21. While Auditing Your Strengths and Opportunities, Give Some Consideration To: Product (what are we selling?) Process (how are we selling it?) Customer (to whom are we selling it?) Distribution (how does it reach them?) Finance (what are the prices, costs and investments?) Administration (and how do we manage all this?)
- 22. Playing Up Your Strengths Will Enable You to Outperform your Resources & Outpace Your Threats!
- 23. Will Help You Simplify & Articulate Your Value Proposition. They are extremely useful because: Confusing Your Customers About Your Products or Service is Never a Good Thing!
- 24. The Rules are Simple: Be clear in stating the Overt Benefits of your products or service. Give your market a Reason to Believe their money is well spent with you. Present a Dramatic Difference between you and your rivals.
- 25. Rule # 1 Be clear in stating the Overt Benefits of the product or service that you are selling! Be specific, obvious and direct in telling a customer what they will receive in exchange for their time, money and trouble.
- 26. Rule # 2 Give your market a Reason to Believe why their money is best spent on your product or service. Identify how you will deliver on the promises made in the Overt Benefits. Tell the prospect why they should believe you!
- 27. Rule # 3 Set your product or service apart by presenting a Dramatic Difference between you and your rivals! Tell your market how revolutionary or new to the world your Overt Benefit and Reason to Believe statements are.
- 28. Your Overt Benefit Should…DEMAND the Real Reason to Believe! or to make things simple: Overt Benefit + Reason to Believe= Dramatic Difference
- 29. Faster than a speeding bullet. More powerful than a locomotive. Able to leap tall buildings in a single bound. Look! Up in the sky! It's a bird. It's a plane. It's Superman! Yes, it's Superman - strange visitor from another planet who came to Earth with powers and abilities far beyond those of mortal men. Superman - who can change the course of mighty rivers, bend steel with his bare hands, and who, disguised as Clark Kent, mild mannered reporter for a great metropolitan newspaper, fights the never ending battle for Truth, Justice and the American Way.
- 30. So What's Your Super Power? These 3 Steps Can Help You Figure Things Out.
- 31. Survey Your Customers. Develop a series of questions to learn about why your market prefers you to all of the other potential solutions. Interview Your Best, Middle of the Road and Former Customers. Define the Good, The Bad and The Ugly so that your value proposition can be foraged from facts.
- 32. Talk With Your Teams. Develop a series of similar questions to learn about why your people and your supply chain partners think that the market prefers you to all of the other potential solutions. Capture their perspectives the Good, The Bad and The Ugly so that your value proposition can be foraged from facts. Compare internal and external perspectives and build the parallels into Your value equation.
- 33. Use www.wordel.net as your looking glass If you are not seeing fundamentals of your Value Proposition on your Website or in your presentations….You should probably get to work.