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How To Build A Value Proposition Statement?
Posted By: Bretigne2330* on 11/24/2004 9:22 AM (CST) 125 Points
How do I start, what do I consider, how long/short should it be?

Posted by: W.M.M.A. Member Response
11/24/2004 9:43 AM (CST)
Although we do not do homeword for the students in this forum, let me ask you this...
Is there a product or service? This would be important because before you "build" a value proposition statement:
a) You have to have a product or,
b) You have to have a service or,
c) The combination of the two.

AND, it has to have value to someone.
Is there a target demographic?
Who are they?

Just a couple of starters.

Randall
WMMA
 
Posted by: Bretigne2330* Author Response
11/24/2004 9:52 AM (CST)
Thank you for your reply I appreciate that, let me give you a bit more background, while I'm not a student, I'm not a Marketing Professional either. I'm essentially helping w/ a collaborative team in building a strategy for a specific target market. Interestingly this is a company I've just joined, but also have 13 years experience with and THEY DO NOT HAVE A MARKETING DIVISION (21,000 employees). So while one recommendation already is to formalize a Marketing Division and hire a Marketing Executive to build it out...we have a short term requirement of identifying to Executive Management the obvious hole....essentially, they won't pay for it until they have a better understanding of the value. Now with that said, there is not a VALUE PROPOSITION for the Company...yes, they have several products & related services & have been extremely successful. But they want to crack a new market, have some issues w/ current perception of the market & influencers...it's like a BEST KEPT SECRET.....
 
Posted by: W.M.M.A. Accepted Answer
11/24/2004 10:10 AM (CST)
It sounds to me as if the first task is to build a value proposition for the internal issues to enable you, or whomever to address the external ones.

If your task is to first introduce a produce before introducing your company, I'm afraid you are going have a very difficult time.

Still, you must first understand your market/customer. What is the potential for your product?
Have you ever performed a SWOT Analysis? If not, there are several templates online, if you just Google "SWOT".

THIS IS WHAT WE WANT TO DO.
THIS IS HOW WE DO IT.
HERE ARE THE BARRIERS TO SUCCESS.
HERE IS HOW WE GET AROUND THEM.
THE MARKET IS XXX.
THIS TRANSLATES INTO YYY.
COMPETITION IS ZZZ.

ETC...

I usually go on longer than I should, and go deep. Your guys/gals may want just the basics.

Back to work.
Randall
WMMA
 
Posted by: steve page* Accepted Answer
11/24/2004 12:21 PM (CST)
There is a formula that might help here.....I'm not sure I remember it perfectly but its something like.....

"To (the target market), (the company / brand / product / service) provides (value statement) which delivers (benefit)"......

....in one statement this says who is your customer (s), what is the product / service, what does it give your customer and what is the benefit they get....this applies to company value propositions and specific product or service propositions, and clearly it helps to have consistency if possible....hope it helps a bit!!
 
Posted by: SRyan ;] Member Response
11/24/2004 12:58 PM (CST)
There is a treasure trove of info you can use in this forum's archives.

Click the Search Questions link on the right side of this page. Try using the keywords "value prop" and look through some of the Q&A threads that come up in the results.

Since you're new, you might think about filling out your Profile page. Any info you provide about yourself and your company will be useful for this and all future questions you post here.

Welcome aboard!

- Shelley
 
Posted by: thinkmor Member Response
11/24/2004 1:45 PM (CST)
Hi Bretigne

Here is question and article that you will find useful as a start:

http://www.marketingprofs.com/ea/qst_question.asp?qstID=3210#22084

http://www.marketingprofs.com/3/perla8.asp

Hope this helps.


Zahid Adil
 
Posted by: laurenceainsworth* Accepted Answer
11/27/2004 8:05 PM (CST)
I have sent a template which I use and I have found very useful. Firstly you answer each point and then by putting them altogether in one sentence you've created a proposition statement

I have set out an example so you can see how it works


FOR YOUR TARGET CUSTOMERS,
For those people who are committed to changing their situation and understand ”I can’t therefore I must”
YOUR PRODUCT IDENTITY,
Funnylife coaching & therapy
ACHEIVES THIS?THESE RESULT(S),
Has proved to consistently deliver results in excess of our clients expectations
BY THESE MEANS,
By a unique combination of coaching and directional mentoring
PROVIDING THESE BENEFITS.
Enables our clients more successful and valuable in their business and personal life
UNLIKE THESE COMPETITORS,
Unlike most other coaching companies
YOUR PRODUCT IDENTITY,
Funnylife coaching & therapy
HAS THESE COMPETITIVE ADVANTAGES.
Has a proven 100% success rate in getting its clients to improve their situation

Rgds
Laurence
 
Posted by: Val (Moderator)* Moderator Response
1/3/2005 2:49 PM (CST)
Hello all. I am closing this question, since its more than two weeks old. We do this to make sure members' contributions are rewarded in a timely manner and to improve the visibility of newer questions. Thanks, so much, for participating!

Val (Moderator)
 


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