Create a clear view of how your products create value for your customers.
A value proposition is the “why” in “why should a potential customer buy from you?” It communicates the benefits customers can expect from using your products.
A Value Proposition is not an elevator pitch (which simply defines what you do and who you help). It is not just unique selling point (which focuses on specialty claims or guarantees specifically to set you apart from the competition).
The core focus of the value proposition is to connect the benefits of your product or service with the problems customers face.
There are a few levels of fit we can help you uncover by connecting your offerings with customer needs.
A well-crafted value proposition can be used in sales scripts, marketing collateral and any customer-facing messaging.
By the end of the workshop you will have clear ideas on how the newly defined alignment of customer value and company value can be used to effectively drive your business goals.
|Introduction to Value Propositions Design, Examples, Applications||Marketing and Product Leadership||30 min|
|The Customer's Perspective||Marketing, Product, Sales, and Customer Service Leadership||50 min|
|The Business Offerings||Marketing, Product, and Sales Leadership||45 min|
|The Value Intersection||Marketing and Product Leadership + Copywriter||45 min|
|Closing & Next Steps||Marketing and Product Leadership||30 min|
We facilitate the customer perspective session by starting with an exploration of who the ideal prospects are. It is important to keep in mind that these profiles are based on the quintessential candidate and not necessarily modeled after your current client base.
The customer profiles are created with demographic factors (for example: age, season of life, profession) and psychographic factors (for example: risk-taker, early adopter, traditionalist) kept in mind.
We then go through three series of prompting questions to discover the three main components of the customer’s needs for the value proposition canvas — a tool used to visually lay out all the elements used in crafting a value proposition. After the questions are read, we allow you time to come up with responses and then deliberate as a group to select the top 2 to 4 factors to record on the canvas.
Once all segments have been covered but while still in the customer mindset, we will discuss what metrics customers use to evaluate their success and collaborate on finding power verbs which motivate them. These will be used in the final stages when word-smithing the value proposition.
Without you, there could be no value added. Our second session focuses on what you offer and what that means for the customers. Similar to the customer session, we go through three rounds of exploring question prompts, but this time it comes from the perfective your company and brand.
Even though the canvas may look complete once these segments are filled in, we still have one more conversation to have while still wearing our business hats: the competition.
Before we adjourn, we’ll take some time as a group to make a list of companies, products and processes that function as alternatives to what you do, and highlight which features make them stand out as your competition.
In the last phase of the workshop we use an ad-lib template to compose value proposition statements. The ad-lib is designed to communicate the fit between the “what” (your company) and the “why” (your customers’ needs).
This is also when we will evaluate the problem-solution and product-market fit mentioned earlier through aligning specific segments of the canvas.
In multiple rounds of experimenting, shaping and word-smithing, we identify one or two final value proposition statements.
Our [products and services] help [customer segment] who want to [customer job] by [customer-compelling verb] [pain reliever] and [customer-compelling verb] [gain creator]; unlike [competing alternatives] *optional
While these can be tested in the market as part of a content strategy, we don’t want to leave it all up to guess and check. Our role in facilitating this session is to help measure the strength of statements as well as keep business model fit in mind by digging into key attributes of a well-formed value proposition including:
We wouldn’t be good partners if we left there. A value proposition shouldn’t stay written on our notepads or contained in a canvas. We close the workshop with helping identify opportunities to use the value proposition, and ensuring you have an action plan to make those a reality.
After this workshop, you’ll be the proud owner of a Value Proposition Canvas which contains six segments (half from the business perspective and half from the customer) acting as fundamental elements in a value proposition statement. You will also have one to two core, refined Value Proposition Statements to use in your strategy for application in sales, marketing, and other customer-facing material.