7 keys to nailing your value proposition — boston product camp
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In the midst of all of the noise and tools, nailing the value proposition is more important than ever. Here are 7 keys to get your product-market message right — and out the door. This presentation delivered at Boston Product Camp in May 2010 takes a look at (1) some best practices around creating compelling value propositions (2) a v.p. audit tool so you can evaluate yours, and (3) examples of value propositions and how they relate to (and can be reinforced) through taglines, brand essence, and business operations.TRANSCRIPT
7 KEYS TO NAILING YOURVALUE PROPOSITION
BOSTON PRODUCT CAMP
PRESENTERTORAL D. COWIESON
MAY 22, 2010
ABOUT US
Market validation & due diligence | product strategy
15+ years working with companies to define, refine, align, and
deliver their value propositions
Investors, entrepreneurs, and established companies looking for capacity to analyze market
opportunities
Copyright 2010 SISUTEK
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• Learn what makes your value proposition a critical business asset.
• Learn why it is often necessary to have multiple value propositions.
• Walk away with practical tuning that you can do now as well as strategic consideration for longer term planning within your organization.
• Connect the dots between the value proposition and the rest of the business.
BY THE END OF THIS WEBINAR
Copyright 2010 SISUTEK
WHY NOW?
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We have more and more tools for communications.
Our targets are bombarded and increasingly live in soundbites.
We face increasing demands for resultswhile operating with diminishing resources.
White Papers
Lead Gen
Direct e-Mail Campaigns
Websites and Microsites
Copyright 2010 SISUTEK
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Value Proposition
The unique, perceived worth of a contract between
a business and its prospects.
Copyright 2010 SISUTEK
Value Proposition
IdeaGoodsServices
TechnologyProcess
Pain Pointsand Needs of Users,
Buyers, and Influencers
FeaturesRoadmap
6Copyright 2010 www.sisutek.com
PricingCustomer Service
SLA
PipelineCollateral
Social MediaBranding
SEOPR
Mar
ket
Com
pany
Sales & Marketing
Product
Operations
KEYS TO CREATING A COMPELLING
VALUE PROPOSITION
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Key #1: Know your audience(s).
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Key #2: Align your solution with your market’s challenges.
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Key #3: Make the relationship impactful.10
Key #4: Demonstrate best choice (in 15 words
or less!).
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Key #5: Know the landscape.12
Key #6: Be aware of individual fares.13
Key #7: Align with the rest of the business.
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EXAMPLES
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B2B - ENTERPRISE MIGRATION TOOL
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Previous File migration made easy.
New Transforma Suite increases enterprise capacity to manage risk and drive competitive advantage.
For IT
Transforma Suite helps enterprises migrate to new versions of Office applications without the risks, costs, productivity loss, and headaches that typically arise from application deployments.
Tagline Analyze. Implement. Transform. Done.
Brand Essence
Seamless, hassle free, provides peace of mind
Copyright 2010 SISUTEK
B2C - DIGITAL MEDIA CONSUMER TOOL
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PreviousPhotoTool makes it easy to organize and publish digital media based on natural organizers.
New Simplify how you organize and share your digital snapshots.
Tagline Memories, Simplified.
Brand Essence Simple, accessible, friendly, and crisp
Other Considerations
Registration process, uploading of photos, integration with other sites such as Facebook
Copyright 2010 SISUTEK
B2B - EMPLOYEE REWARDS
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Current
As the leading worldwide provider of global strategic recognition solutions, the company helps the world’s largest and most complex companies engage and motivate their employees by fostering a culture of appreciation that breaks down country, language, and company position.
Target Markets Sales and human resources executives
Target Challenges
Retention, motivation, strategic alignment, fairness and appropriateness across international boundaries, cost-effectiveness
Current Tagline motivation worldwide
ProposedThe company’s strategic recognition solutions help businesses cost-effectively engage, retain, and inspire employees worldwide.
Copyright 2010 SISUTEK
B2B - IT FOR ACUTE CARE AREAS OF HOSPITALS
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Current Corporate
Picis is a global provider of innovative information solutions that enable rapid and sustained delivery of clinical, financial, and operational results in the acute care area of the hospital.
Tagline Delivering Results in High Acuity
Product-Specific Value Proposition
ED PulseCheck is a specialized system for the emergency department that achieves the perfect balance between your clinical and financial goals.
Collateralwww.picis.com, testimonial, website structure, CIO Magazine “Emergency Department Care, Hospital Business Results”
Copyright 2010 SISUTEK
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HOW TO EVALUATE YOURS
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Know your audiences.
Align your solutions with
market challenges.
VALUE PROPOSITION AUDIT — WORKSHEETMake the
relationship impactful.
Demonstrate best choice.
Know the landscape.
Be wary of individual
fares.
Align with the rest of
the business.
Copyright 2010 www.sisutek.com
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10Who are the buyers, influencers, and moneymen involved in the buying process?
Do you have value propositions specific to each of these stakeholders?
What keeps these players awake at night?
What language do they use to articulate their pains and the severity?
Do your value propositions capture the voice of the customer?
What value does your offering provide to each target - save time, reduce costs or exposure, make money, other?
Do your value propositions crisply communicate that value?
Is the value proposition simple, crisp, and powerful?
Does it encapsulate the value in a way that can be expressed on an elevator ride?
Does it generate further dialogue?
Who are your competitors?
What are the weaknesses in their strengths?
What are the FUD factors?
Who are potential strategic partners?
Can the rest of the organization articulate the core value proposition?
What is the customer experience once the contract is signed?
What percentage of customers renew or refer other business?
What percentage of sales are custom solutions?
What is the impact of client-specific solutions on market-driven opportunities?
Who are the marketing team’s clients?
TAKEAWAYS• A value proposition is the proposed contract; how a company executes
across functions is the manifestation (or not!) of that contract.
• Multiple value propositions are necessary, depending on who you need to influence, convince, and pay the bills.
• A one size fits all message fails to optimize interest for any stakeholder.
• A clear value proposition will streamline costs and time on sales and marketing endeavors.
• Building and executing on a compelling value proposition is a combination of strategic planning and tactical execution.
• A solid value proposition drives the tagline and establishes the foundation for your brand.
22Copyright 2010 SISUTEK
THANK YOUTo obtain our Value Proposition Audit Worksheet or to schedule a webinar or onsite presentation
for your organization or group, contact:Toral Cowieson
Join the Value Proposition Best Practices group
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@sisutek