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 …

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.

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  • 1. 7 KEYS TO NAILING YOUR VALUE PROPOSITION BOSTON PRODUCT CAMP PRESENTER TORAL D. COWIESON MAY 22, 2010
  • 2. 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
  • 3. BY THE END OF THIS WEBINAR • 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. Copyright 2010 SISUTEK 3
  • 4. WHY NOW? We have more and more tools Lead Gen for communications. White Papers Our targets are bombarded and increasingly live in soundbites. Direct e-Mail Campaigns We face increasing demands for results while operating with diminishing resources. Websites and Microsites Copyright 2010 SISUTEK 4
  • 5. Value Proposition The unique, perceived worth of a contract between a business and its prospects. Copyright 2010 SISUTEK 5
  • 6. Market Pain Points and Needs of Users, Features Buyers, and Roadmap Influencers Product Pipeline Collateral Value Proposition Sales & Marketing Social Media Branding SEO Operations PR Idea Pricing Goods Customer Service Company Services SLA Technology Process Copyright 2010 www.sisutek.com 6
  • 7. KEYS TO CREATING A COMPELLING VALUE PROPOSITION 7
  • 8. Key #1: Know your audience(s). 8
  • 9. Key #2: Align your solution with your market’s challenges. 9
  • 10. Key #3: Make the relationship impactful. 10
  • 11. Key #4: Demonstrate best choice (in 15 words or less!). 11
  • 12. Key #5: Know the landscape. 12
  • 13. Key #6: Be aware of individual fares. 13
  • 14. Key #7: Align with the rest of the business. 14
  • 15. EXAMPLES 15
  • 16. B2B - ENTERPRISE MIGRATION TOOL Previous File migration made easy. Transforma Suite increases enterprise capacity to New manage risk and drive competitive advantage. Transforma Suite helps enterprises migrate to new versions of Office applications without the risks, costs, For IT productivity loss, and headaches that typically arise from application deployments. Tagline Analyze. Implement. Transform. Done. Brand Seamless, hassle free, provides peace of mind Essence Copyright 2010 SISUTEK 16
  • 17. B2C - DIGITAL MEDIA CONSUMER TOOL PhotoTool makes it easy to organize and Previous publish digital media based on natural organizers. Simplify how you organize and share your New digital snapshots. Tagline Memories, Simplified. Brand Essence Simple, accessible, friendly, and crisp Other Registration process, uploading of photos, Considerations integration with other sites such as Facebook Copyright 2010 SISUTEK 17
  • 18. B2B - EMPLOYEE REWARDS As the leading worldwide provider of global strategic recognition solutions, the company helps the world’s largest and most complex companies engage and Current motivate their employees by fostering a culture of appreciation that breaks down country, language, and company position. Target Markets Sales and human resources executives Retention, motivation, strategic alignment, fairness and Target appropriateness across international boundaries, cost- Challenges effectiveness Current Tagline motivation worldwide The company’s strategic recognition solutions help Proposed businesses cost-effectively engage, retain, and inspire employees worldwide. Copyright 2010 SISUTEK 18
  • 19. B2B - IT FOR ACUTE CARE AREAS OF HOSPITALS Picis is a global provider of innovative information Current solutions that enable rapid and sustained delivery of Corporate clinical, financial, and operational results in the acute care area of the hospital. Tagline Delivering Results in High Acuity ED PulseCheck is a specialized system for the Product-Specific emergency department that achieves the perfect Value Proposition balance between your clinical and financial goals. www.picis.com, testimonial, website structure, CIO Collateral Magazine “Emergency Department Care, Hospital Business Results” Copyright 2010 SISUTEK 19
  • 20. HOW TO EVALUATE YOURS 20
  • 21. VALUE PROPOSITION AUDIT — WORKSHEET Align your Make the Be wary Align with Know your solutions with Demonstrate Know the audiences. relationship best choice. of individual the rest of market landscape. impactful. fares. the business. challenges. Important? 10 10 10 10 How Who are the What keeps these What value does Is the value Who are your What percentage of Can the rest of your offering proposition competitors? sales are custom the organization buyers, influencers, players awake at provide to each simple, crisp, and solutions? articulate the core and moneymen night? target - save time, powerful? What are the value proposition? to Address involved in the Questions buying process? What language do reduce costs or weaknesses in their What is the impact exposure, make Does it strengths? of client-specific What is the they use to money, other? encapsulate the solutions on customer Do you have value articulate their pains value in a way that What are the FUD market-driven experience once propositions specific and the severity? Do your value can be expressed factors? opportunities? the contract is to each of these signed? Do your value propositions crisply on an elevator stakeholders? propositions communicate that ride? Who are potential Who are the value? strategic partners? marketing team’s What percentage of capture the voice of Does it generate clients? customers renew or the customer? further dialogue? refer other business? Are We Doing? How Well GAP Copyright 2010 www.sisutek.com 21
  • 22. 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. Copyright 2010 SISUTEK 22
  • 23. THANK YOU To obtain our Value Proposition Audit Worksheet or to schedule a webinar or onsite presentation for your organization or group, contact: Toral Cowieson tcowieson@sisutek.com www.sisutek.com Join the Value Proposition Best Practices group @sisutek 23