Creating Value Propositions that work
Wednesday 13th April 2011
Creating Value Propositions that work
“Value propositions” are the competitive arguments with which you approach your marketplaces. Effective value propositions should be based on a thorough understanding of your target customer’s real requirements and preferences. However, although business' often think they know which of their features are important, research shows that you really can’t just assume you know which of your product (or services) features are really going to make the most difference to your customers and create superior perceived value.
Good VP’s are business critical: when properly constructed they will force you to concentrate on what your offerings are really worth, and help you to make better choices about where to focus your limited resources.
There can be many factors to lace together in creating this superior perceived value. An understanding of your target customer, your competitive positioning, the resources available and how you can best leverage and present your appropriate key competencies all need to be considered to best advantage. The aim is to both become the supplier of choice in your market and in turn, build the lifetime value of each customer.
So how are you going to become the supplier of choice? How will you make it easier for your customers to do business with you? Can your technology provide the business information you will require now and in the future?
It can be difficult to achieve an overarching perspective from internal staff. Team members will be working in specific roles within the business: it really can be difficult to see the wood for the trees.
This is where experienced external consultancy can be of great value.
Wayne Chopping and Associates (WCA) has specialist value proposition development experience in a variety of B2B blue chip organisations, including the Utilities, distribution and industrial supply markets. WCA can lead or contribute to the project, adding value at all stages, from both a commercial and technology perspective. Contact us to explore further.