Enabling the Next Generation of Business Growth.
Growth Blog.
StaleValue Proposition?
It is often the case that businesses define and package a value proposition based upon internal core competencies and historical success. Unfortunately, this is dangerous for two reasons:
1. Marketplace changes. Market, customers, technology, competitive offering and market dynamics always cause value propositions to erode.
2. Internal focus. It is the market and the customer that must heavily influence your value proposition as it is in these two groups that a value proposition is evaluated and adopted to the point of purchase.
Companies that stop innovating and improving their value proposition are statistically disadvantaged when it comes to marketshare, revenues and profit.
To help you evaluate your current value proposition, here are some practical questions that can spur new ideas toward business, marketing and sales improvement.
Define:
- Who is our “ideal” customer target?
- What problems do we really solve?
- What opportunities do we wish to exploit?
- What relationships do we want with our
customer? - What value will the customer realize?
- What is the customer experience we
wish to deliver? - What price must be paid for this experience?
- How does our experience and price
compare to alternatives?
Deliver:
- What must be designed to ensure the right
customer experience? - What value delivery system supports our
value proposition? - What changes must a customer make to
experience the value proposition? - What must accompany our products or
services to delivery the value promise? - What alliances or channels can we enlist into
the value proposition? - What new capabilities must we create to deliver
the value proposition? - How we reorganize to support the value
proposition promise?
Describe:
- What information must be conveyed to our
ideal customers? - What communication vehicles make the most sense
to use? - What tradeoffs are we asking the customer to take in
how we communicate? - How should communication be produced and
delivered? - Who should deliver our value proposition to the
marketplace? - When should we communicate our value proposition?
- What do we expect from those that are exposed to
- our value proposition?
Don’t assume that what has made you successful in the past will do so in the future. Your legacy of success is the platform and starting point for the next level of success. Your customers expect that from you.
Take some time to answer the above questions and compare to your current value proposition. Tune up your offering or create a new one to bring new opportunity, revenue and profit to your company.
The Afterburner Group has been creating great value propositions for companies that have complex, engineered or technology-driven products and services for over 25 years.
If you think that your value proposition isn’t working any longer or could use a brand and value proposition assessment and refresh, fill out the form below and we’ll let you know what that would look like and how you would benefit.
© Afterburner.Group. All rights reserved.
Contact Afterburner.Group
Why consider us?
We are the leader in connecting complex, technology and engineered products, services, companies and brands to sustainable profitable demand.
If you're looking for growth, let's make it happen.
See things differently to create new opportunity and grow business value.
