Sales & Marketing: Revitalizing the Value Proposition

growth team m e m b e r s h i p™A three-page excerpt from our 14-page Best Practice Guidebook:Sales & Marketing: Revitalizing theValue PropositionThe contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved.

growth team m e m b e r s h i p™ 1Best Practice GuidebookSales & Marketing: Revitalizing the Value Proposition guidebook summary Firm: Kronos Industry: Software Services and Applications Headquarters: Chelmsford, Massachusetts, United States Geographic Footprint : Global Ownership: Private Revenue (2010): ~$750 million USD Problem: Resources Required: Slowing product growth forces Kronos’ marketing and sales organizations • Marketing leadership (CMO and direct reports) to lead the initiative to create and deliver a differentiated value proposition. and engage sales leadership • A branding and messaging agency to run focus groups Solution: • A consulting firm to train the sales force to deliver differentiated Sales and Marketing collaborate to: customer messages • Evaluate the existing value proposition • Create a revised value proposition and promote it companywide Applicability of Best Practice to Executive Functions: through a Foundational Messaging Guide Function Applicability • Translate the value proposition into compelling sales messages Marketing • Encourage adoption of new messages and delivery techniques by the Sales Leadership sales force Business Results: • Since 2008, Earnings Before Interest, Taxation, and Amortization (EBITA) increased 36% • 92% of Kronos’ sales force consistently use the new customer messagesThe contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved.

growth team m e m b e r s h i p™ best practice guidebook 2 Kronos’ marketing leadership works with Sales to revitalize the value proposition and create differentiated sales messages Creating and Embedding a New Value Proposition Revisit Existing Value Create New Value Develop Sales Drive Sales Force Proposition Proposition Messages Adoption Objective Objective Objective Objective Conduct a baseline assessment Develop differentiated value Translate the value proposition into Achieve 100% adoption of new of the current value proposition’s proposition sales force messaging messaging by sales force strengths and weaknesses Activities Activities Activities Activities • Perform market assessment • Conduct Affinity Diagramming • Conduct Power Messaging® • Conduct Power Messaging® • Conduct brand positioning exercise to identify customers’ Workshop with sales and Workshops with entire sales workshop Critical Business Issues (CBIs) marketing leadership to update force • Run customer/prospect focus • Pinpoint how Kronos messaging and techniques • Establish Sales and Marketing groups uniquely addresses these CBIs Leadership Councils by vertical and translate into a value market proposition Output Output Output Output • Market assessment • Critical Business Issues (CBIs) • New messaging techniques • Sales force adoption of • Focus group findings and key differentiators • Portfolio of customizable customizable messages and • Governing Brand Idea (GBI) • New value proposition messages techniques • Foundational Message Guide • Industry-specific Sales and (FMG) Marketing Leadership Councils to drive ongoing adoptionThe contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Kronos; Growth Team Membership™ research.

growth team m e m b e r s h i p™ best practice guidebook 3 key takeaway: Pressure-test your market understanding and value proposition Marketing commissions a market assessment to gain …and then conducts a workshop perspective on the category and Kronos’ position within it… to craft new brand positioning Market Assessment Brand Positioning Workshop Participants Situation Senior sales and marketing executives participate in a one-day workshop Kronos management believed the firm was the market Objectives leader, but product revenue growth was flat despite category growth. Therefore, Kronos commissioned a • Audit existing marketing messages and collateral to third-party assessment of the workforce management determine extent of competing messages and identify steps market. to rectify • Develop preliminary Governing Brand Ideas (GBI) to Objective be tested in focus groups. The GBI will serve as the overarching brand positioning for a new value proposition. Capture the current state of the workforce management The workshop employs three criteria for the GBI: category by analyzing: 1. It conveys Kronos’ understanding of the workforce • Market size management category • Competitive landscape 2. It is simple and direct • Customer segments 3. It reflects Kronos’ ability to help—doesn’t over-promise • Kronos brand awareness and brand associations • Purchase consideration factors for Kronos Preliminary Governing Brand Ideas (GBI) Need to revise brand Findings positioning to appeal to both segments “The experience to 3Two customer segments exist: know it’s complex. The expertise to simplify it.” - Ease-of-use buyers who value straightforward implementation with low cost of ownership (50%) - Functionality users that value advanced “Workforce features (50%) management doesn’t Kronos is the market leader, but growing slower than have to be so hard.” the market Kronos lacks a compelling category positioning: “Simple solutions that - Lower than expected awareness and work hard.” consideration rates - Fractured and diluted brand messagingThe contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved. Source: Kronos; Growth Team Membership™ research.

growth team m e m b e r s h i p™ Please contact us to learn how to access the full Best Practice Guidebook or for information on Growth Team Membership.™ Email us GTMresearch@frost.com Visit us online www.gtm.frost.comThe contents of these pages are copyright © 2011 Frost & Sullivan. All rights reserved.

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Sales & Marketing: Revitalizing the Value Proposition

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