We’ve been working through Value Propositions this week; a very useful exercise that looks trivial until you try it and really challenge one another as to “so what does that actually mean…?”.
These work best in a group situation, but can be done on your own if you are willing to challenge your thinking and iterate.
You’ll need a whiteboard or a load of Post-Its…
There are several common approaches to value propositions, here are some of our favourites:
Start With Why
Simon Sinek’s “Start With Why?” on youtube.
The principle is that products that really matter to people start with “why” they exist, and “why” we as a business do what we do. The video is well worth watching, and explains more about starting with “why”, moving through “how” and finishing with “what” – the product and features.
Jobs To Be Done
The Innovators Toolkit. Again, the full article is worth reading. What Human need are you delivering against? Think of your (short) proposition in three parts:
Action verb – Object – Context
Create – a company strategy – in small chunks in your spare time
Value Positioning Statement
In his seminal book Crossing The Chasm Marketing and Selling Disruptive Products to Mainstream Customers, Geoffrey Moore describes the Value Positioning Statement, the main parts of which are:
- For <customers>
- With <need/problem/dissatisfaction>
- Our Product is <product, category>
- Provides <benefits>.
- Unlike <competitor categories>
- We do <differentiators>.
Hope you find these useful in communicating the value of what it is you are doing.