Creating & Delivering Your Value Proposition
by Barnes, Cindy; Blake, Helen; Pinder, DavidFormat: Paperback
Pub. Date: 2009-11-28
Publisher(s): Kogan Page Ltd
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Summary
In recent years, developing a value proposition has become a prime consideration for businesses. A value proposition is an analysis and quantified review of the business benefits, costs and value that a company can deliver to prospective customers and customer segments. Creating and Delivering your Value Proposition provides guidance for business leaders demonstrating why having a strong value proposition is so important for a company. This practical new title shows readers how to build, deliver and harness value propositions to create profitable growth for a business, by utilizing the experience of clients and customers. Featuring global case studies and examples, Creating and Delivering your Value Proposition is an essential guide to understanding and developing a value-focused strategy for all senior practitioners.
Author Biography
Cindy Barnes is the founder and CEO of Futurecurve, a management consulting firm. A product and service innovator and strategic business developer, she gained practical experience at leading organizations such as Capgemini, where she created the value proposition function and led business development.
Helen Blake is a marketer and business developer and has held senior positions in a number of the world's largest consulting firms, including Accenture and KPMG. She is currently on the board of Futurecurve.
David Pinder is a leading communications specialist. He has worked in sales and marketing roles with Procter & Gamble, Hertz Corporation and Forte Hotels, and now provides value-creating business writing support for some of the world's leading companies, including Accenture.
Table of Contents
| Acknowledgements | p. xv |
| Introduction | p. 1 |
| What do you really think about customers? | p. 5 |
| Introduction | p. 5 |
| What do you really think about customers? | p. 7 |
| The lessons of childhood | p. 9 |
| The experience of now | p. 10 |
| Technology and customer power | p. 14 |
| USP, FAB, VP, POP/POD: analysing the alphabet soup | p. 16 |
| Client-focused, not client-run | p. 18 |
| What is a value proposition? | p. 21 |
| Why do you need to build a value proposition? | p. 23 |
| Some definitions | p. 24 |
| Exploring the value proposition concept | p. 28 |
| Value = Benefits minus Cost | p. 28 |
| Introducing the Value Proposition Builder™ | p. 30 |
| Focus | p. 33 |
| From top level to specific | p. 33 |
| To sum it up... | p. 37 |
| The value-focused approach | p. 39 |
| The value-focused enterprise | p. 40 |
| Value creation, alignment and decision making | p. 42 |
| Strategic intent | p. 44 |
| B2B service and solutions providers and the consultative selling imperative | p. 52 |
| Strategic value pathway: customer intimacy. Sales mode: consultative | p. 55 |
| Creating your value proposition | p. 59 |
| Value Proposition Builder: Market | p. 61 |
| Analysing your market | p. 61 |
| Define the specific group (s) of customers to target | p. 62 |
| 'Narrow and deep' beats 'broad and shallow' | p. 63 |
| Understand how to enter those markets | p. 64 |
| Critical thinking | p. 65 |
| Value Proposition Builder: The value experience | p. 67 |
| Focus on customer experience delivers profit | p. 67 |
| The value of research | p. 68 |
| Ascertaining what the customer values | p. 72 |
| The value interview | p. 73 |
| Summary | p. 78 |
| Value Proposition Builder: Offerings | p. 79 |
| Step 1. Categorize your current portfolio | p. 80 |
| The whole product or whole service | p. 82 |
| Map to the Value Pyramid™ | p. 83 |
| Profitability | p. 85 |
| Value Proposition Builder: Benefits | p. 87 |
| Expected benefits | p. 88 |
| Augmented or additional benefits | p. 89 |
| Potential benefits | p. 89 |
| Translating benefits into messages | p. 89 |
| Value experience is critical | p. 90 |
| The value difference | p. 91 |
| Value Proposition Builder: Alternatives and differentiation | p. 93 |
| Assessing alternatives and differentiation by looking at substitutes | p. 96 |
| What's your difference? | p. 98 |
| To sum it up... | p. 100 |
| Value Proposition Builder: Proof | p. 101 |
| Total cost of ownership (TCO), return on investment (ROI) and cost-benefit (C-B) | p. 102 |
| TCO | p. 103 |
| ROI | p. 107 |
| C-B | p. 107 |
| Summary | p. 108 |
| Value proposition template and value proposition statement | p. 109 |
| Completing the VP template and creating your VP statement | p. 109 |
| Intel, and an exercise in getting your head around value propositions | p. 116 |
| Timelines | p. 122 |
| Message development | p. 125 |
| Don't throw your money away | p. 125 |
| Augmented benefits | p. 126 |
| Creating a message framework and hierarchy | p. 127 |
| Summary | p. 131 |
| Implementation | p. 135 |
| Four constituencies, one goal - alignment of value | p. 136 |
| What does it all mean for sales and marketing? | p. 141 |
| Tools to help sales people create value | p. 143 |
| Offering management | p. 156 |
| New strategic tools | p. 166 |
| Starting and sustaining | p. 171 |
| Are the conditions right? | p. 171 |
| Starting the process | p. 173 |
| Building your value proposition | p. 174 |
| Create your value proposition template and write your value proposition statement | p. 177 |
| Ways to use your value proposition | p. 177 |
| Sustaining the lead | p. 179 |
| And finally... | p. 180 |
| The value-focused enterprise | p. 183 |
| Check the rulebook. It's different now | p. 184 |
| Decision making, value creation and the CEO paradox | p. 185 |
| Decisive value-creating companies kick sand in the face of ditherers | p. 187 |
| Capability gaps and unwritten rules sabotage value creation | p. 189 |
| We've got a great solution! Where's the client? | p. 192 |
| Orchestrating alignment - the way to value | p. 193 |
| Don't discount human nature | p. 194 |
| Where have we got to? This looks like a new planet | p. 197 |
| Back to the future | p. 199 |
| Early 19th century: customer misinformation - the hype of 'mere marketable qualities' | p. 199 |
| Mid- to late 19th century: customer distraction - make trade, not war | p. 200 |
| Late 19th to early 20th century: customer enchantment - night becomes day | p. 201 |
| Early to mid-20th century: customer manipulation - you are what you own | p. 201 |
| Second half of the 20th century: customer domination - producers and retailers rule | p. 202 |
| Mid-1990s onwards, and accelerating: customer power - finally, it's the customer's turn | p. 203 |
| Example value proposition for Intel (partial) | p. 205 |
| Index | p. 209 |
| Table of Contents provided by Ingram. All Rights Reserved. |
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