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Agenda Understanding the US Market
Differentiation in the Market
The Value Message
Understanding the Market 5 Core Components
Understanding the Market 5 Core Components Target Market: Ideal customer profile, basic demographic information (industry/SIC code, geography, size) Psychographic profile: preferences, values, and interests
Pain: What is your target market’s pain, problem or issue that requires assistance? Is your offer the pill or vitamin?
Understanding the Market 5 Core Components 3 . Solution: What results can you produce when working with your customers? Expected outcomes, business value? 4. Proof Points: References, testimonials, case studies, success stories.
5. Differentiation: What makes you stand apart from the competition? What is the true advantage you deliver?
Understanding the Need What is the issue you are trying to solve? What pain, need or want does your product solve or meet? How is this need met without your solution? How else could the issue be resolved? Who has the problem or need? What are demographics of your ideal target market? Why do they have a need, issue or desire?
What motivates them to buy?
What is Value? An amount considered a suitable equivalent for something else
Different kinds of value:
Value Proposition: What is it?
An implicit promise your company makes to deliver upon a combination of values such as price, performance, quality, convenience, expected outcome and more.
In other words….
How does your solution positively impact the customer’s business?
How Value is Relevant Creates a strong difference between you and the competition Forms the basis of a sales strategy Can increase the quantity and quality of prospective sales leads Can help gain market share in your targeted segments Enhances your sales tools with a clear message that helps close more business
Can improve your operational efficiency
Origin and Impact Value propositions are not made up or determined. They grow out of the needs of your customers.
Corporations devote extensive time and energy to their delivery and supply chains but fail to assess the most fundamental of their success factors: their value proposition
Positive Impact on the Customer’s Business Increased shareholder value ↑
Decreased employee turnover ↓
Real Results -- What Buyers Care About “ Our customers experience 30-40% shorter project lead times.” “ Our tracking system has reduced their materials loss by $6000 per month or more than $70,000 annually. ” “ Today, the company now experiences a 100% on-time export shipping record. ” We provide competitive pricing and guaranteed cost-savings of 25% or more.”
New product sales for the second quarter increased 93% to $1.57 million due to these improvements.”
Yet Another Consideration Your value proposition is not what you say. It is what you are.
It has to be what you DO and who you ARE; not what you SAY or WANT!
Common Misunderstandings Customers never buy technology. They buy solutions to a problem or “ pain management .” Technology is an enabler to alleviate their problem.
Is your solution a pain killer ( must have)? Or a vitamin (nice to have) ?
Features, Benefits, & Value Feature: What it does, how it is made, what it is Benefit: Advantage the feature brings to customer
Value: Business impact the benefit brings to the customer
Always Discuss Value! FEATURE BENEFIT VALUE Easy to use interface Less time to learn Employees are more productive Customized for a specific industry Fully meets the customer’s needs Time savings of one solution
Weak Value Propositions are Everywhere It's the most technologically advanced and robust system on the market. We improve communication and morale. It has a simple architecture. Our product was rated the best-in-class by leading authorities.
We have good quality and low prices .
Strong Value Propositions mean Tangible Results Improved operational efficiency↑ Decreased employee turnover ↓
Improved customer retention levels ↑
When to Use Value Propositions In email correspondence, email signatures In sales presentations, brochures, company website, business cards, taglines, press release boilerplates At networking events, user groups, speaking engagements
At EVERY opportunity to discuss your company’s value
Developing the Value Proposition Who wants/needs (customer issue you solve) The offering (what you do) Which provides (your solution to the issue) Unlike (your other competitors)
The offer (key differentiator)
Testing Your Value Proposition Can your competitors’ name be inserted easily? Does your differentiator relate to the reason to buy or the specific need?
Is the want or need compelling enough to warrant a purchase TODAY?
Testing the Value Proposition Are your differentiation and product claims based on evidence? Is the positioning sustainable?
Lo puede entender su abuela?
Elevator Speech Subset of the value proposition Brief statement of the company’s offer, customer profile and return on investment (ROI)
When spoken, it is only 1-2 minutes in length
Elevator Speech Tip
“ _____ companies call us when they want ________,_______, and __________.”
Buzzwords to Avoid
Write Your Elevator Speech What your company and product/service do The results or value you deliver (the Return on Investment---ROI) For example, our customers include ___, ____, and ____.
Keep it to just 1-2 minutes in length
Agenda Understanding the US Market
Differentiation in the Market
1. Before You Begin What is the goal of your presentation Advance planning and preparation
Adapt for different audiences
Audience Group Primary Interests Prospective Customers Solving their problem or alleviating their pain, financial and ROI value VCs & Investors Management team, market size, risks, opportunity, tradeoffs, exit strategy Press and Industry Analysts Customer anecdotes, market trends, technology convergence, differentiators Strategic Partners How solution will bring them more revenue, customers, value Geographic Distinctions Focus on customers, messages etc. that relate to the current geography
2. Key Messages Start with the last point first
What do your customers say?
Organizing Your Topic Key messages & take away: What’s the point of your presentation? They sound like a human being, not an institution. They can influence your audience.
Start with the last point first
3. Using PowerPoint Do not make text so small it can’t be read from the back of the room Use bullet points vs. full sentences Poor color choices are hard to read
Moving text or graphics are distracting
4. Confident Delivery Build credibility and rapport Content vs. voice and [persona Use stories & anecdotes effectively Reinforce your key messages
Rehearse, rehearse and rehearse again
Opening Remarks Take a few extra minutes here. Help your audience to relax and focus. Building Credibility and Rapport Why are you here speaking on this topic? What are the stories and anecdotes you will share?
How will you help your audience?
Content vs. Voice and Persona Content is 10-20% of the presentation Your voice, enthusiasm and persona are 80-90%
55% of how people perceive you is by body language
Anecdotes & Stories Tell anecdotes, personal and customer experiences “ In my experience…” = anecdotal evidence “ This feature came at the request of our customers in the insurance sector and delivers this benefit.”
“ I have found more often, than not, that IT directors want ___ because___. For example, Mike Patel of SJ Medical Group requested ____ this last year.”
The Q & A Session Reinterpret loaded questions
Use the last question to summarize your key points
Thank you for your attention Questions? Jorge Zavala CEO TechBA Silicon Valley [email_address]