Transcription
A Value Proposition What is it, really?David BolBusiness Winning ServicesKelson ForsgrenProgram Development1 certification CEUMallary PriceTraining CoordinatorDaryl JonesBusiness Developmentwww.shipleywins.com
Webinar Agenda Defining Value Defining Proposition Defining a Value Proposition Developing a Value Proposition Applying the Value Proposition Question and Discussion2
A Value Proposition is NOTThe same as aproposal themestatement A slogan A Tagline A catch phraseAlwayswrittenverbatim intothe proposal3Solely based onmonetary valueBased only on featuresA list ofdefinitions orspecifications
What Constitutes Value?Value in mind of the customerMonetary payback or savingsCompetitive advantageEfficiency gainsDiscriminates: Better,different, and importantto customer4
What is a Proposition?Simply put, a proposition is an offer with some type of benefit.“Show methe value ”5
A Value PropositionAn offer demonstrating measurable value/worthto the customer must be: Developed collaboratively with the customer Based on win strategy Analysis and discriminators Focused on tangible and measurable benefits Able to solve a problem or save money (ROI) Quantifiable (value outweighs cost) Time bound6
Clarifying Vocabulary Related to Value Propositions7FeaturesAspects, or attributes of our product or service—Speed, schedule, dollars of revenue collected, etc.WhatBenefits(Value)Advantages that solve a problem for the customer—Reduced cost or risk, improved quality, reliability, profit,safety, etc.So WhatDiscriminatorsA benefit that is important to the customer and is uniqueto you.Win ThemeThemes link discriminating features and benefits tocustomer – Demonstrates VALUE.ThemeStatementA theme statement highlights our benefits byemphasizing our discriminators or features.Link benefits to customer hot buttons.Why Us
A Value Proposition is Based on the Win StrategyWin StrategyDevelopmentAnalyze SWOTFeatures &BenefitsDiscriminatorsHot Buttons Analyze strengths and gaps (SWOT) of you and your competitors Articulate and demonstrate value your customer cares about Determine where and how to convey your value proposition Show the customer how your solution meets their value definition8
Creating a Value Proposition Requires AnalysisSWOT analysis helps us:Perform SWOT for usand each competitorIdentify what makes us betterand different (discriminators)Challenge all assumptionsBuild consensus on our offerand value proposition9
Articulate Value through Win Strategy1. Leverageour Strengths2. Mitigateour Weaknesses& Risks3. NeutralizeourCompetitors’Strengths4. Exploit ourCompetitors’WeaknessesVALUE10
A Value Proposition Must be Based on DiscriminatorsOur WeaknessCustomer Needs ItCompetitor Has ItWe Don’t Have ItNeutral PositionCustomer Needs ItCompetitor Has ItWe Have ItNO!MAYBENO!Irrelevant PositionCustomer Doesn’t Need ItCompetitor Has ItWe Have It11YES!Our DiscriminatorsCustomer Needs ItCompetitor Doesn’t Have ItWe Have It – Find out
What Customers Might Want to MeasureTurnover12PercentagesDollarsTime vs. InvestmentAccuracy
QuestionHow do you coach a sales teamto provide the info you need tobe able to write a value prop?13
Sales Should Clarify Issues, Motivators, and Hot Buttons Issues are the customer’s concerns. Issues are the worryitems that keep the customer awake at night. Motivators are the objectives that the customer is trying toachieve: Improve profits Increase revenue Reduce costs and redundancy Improve safety and response time Provide security Demonstrate value to taxpayers Hot Buttons are a consolidated set of issues and motivators.14
QuestionsHow is value propositiondistinguished from win themeor theme statement?15
Build a Theme Statement with a Value PropositionCustomerBenefit(Impact)Outdoor Sports Global will reduce the cost of sales tracking and leadnurturing campaigns by selecting Vibrant to implement a CRMsystem that reduces overall marketing costs by 35 percent.QuantifiedReturn(value)16Feature
A More Detailed Value r Sports Global will reduce marketing costs by 35 percentover two years by implementing Vibrant’s CRM system at costsavings of over 225,000 per year compared to the current OSGsystem and support personnel. ROIROITimeline17Feature
Questions“Can a value proposition beshown through graphics insteadof in writing (text)?”18
Value is Often Demonstrated Best with VisualsSource: www.apmp.org19
Apply the Value Proposition Everywhere!20
In Summary:Elements of Value olutionResults,Measurement,and Tracking21
QuestionsFollow Shipley on social media:ShipleyAssociates@shipleywinsShipley AssociatesShipley UniversityShipley Associates22
https://www.shipleywins.com/webinars/23
Thank you!1 certification CEUMallary PriceDavid Boldbol@shipleywins.com mprice@shipleywins.comDaryl JonesKelson Forsgrenkforsgren@shipleywins.com dmjones@shipleywins.comwww.shipleywins.com
A Value Proposition is Based on the Win Strategy Analyze strengths and gaps (SWOT) of you and your competitors Articulate and demonstrate value your customer cares about Determine where and how to convey your value proposition Show the customer how your solution meets their value definition. 8. Win Strategy Development. Analyze SWOT. Features &
