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Make Customers Fall in Love with Your Business
by Designing a Winning Value Proposition
Prepared by Kevin HuangNov 20, 2015
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Most Marketers Think of Their Business As an Organization of Great Features.
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What Exactly Is AValue Proposition?
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We define a Value Proposition as the “What’s in it for me?” statement. Successful Brands speak in terms of benefits and prevent prospects from ever saying, “So what?”
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Here are 10 of my favorite examples of exceptional Value Propositions and how recognized brands answer the question, “So what?”:o
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Focus on Where You Can Win the Game
So What?Who Cares?
FOCUSHere
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Traditional Circus
Red Ocean
Undifferentiated value propositions
Blue Ocean
Innovative value propositions
vs
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Two Great Books Must Read & Keep Practicing
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Creating the business model“Doing the right things”
Optimizing implementation & operations“Doing the things right”
Success Starts with Creating Your Business Model
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Even a Successful Global Company Needs One
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Why to Use the Business Model Canvas?•••••
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How to design innovative business modelsKey
Trends
MacroEconomic Forces
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(click to play the video)
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How to design attractive Value Propositionsthat sell & in business model that work
Fit
Create Observe
Tell the story of how you create value for
your customerValue Proposition Customer segment
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Put yourself in the customer’s shoes
“The focus should be on what jobs customers are trying to get done.”
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For a builder, the biggest job to be done is NOT to buy the tools
…but to manage, maintain, and replace the tools (right tool, right place, right time)
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Know Your Customers’ Needs
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31. What customers are trying to get done in their work and in their lives
2. Describe bad outcomes, risks, and obstacles related to customer jobs
3. Describe the more or less expected benefits the customer are seeking
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From a builder’s POV
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45
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4. A list of all the products and services a value proposition is built around
5. Describe how your products and services kill or alleviate customer pains
6. Describe how your products and services create customer gains
Meet Your Customers’ Needs
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What a tool company can offer
Fit
FitThree types of- Problem-Solution Fit: understand customers- Product-Market Fit: design value propositions- Business Model Fit: find the right business model
Connect Your Value Propositions to Fit
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For Hosts
Another Example
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For Renters
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Tell the Story of How You Create Value
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Competing for Customers
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Customers Have Many Options – Why Choose You?
A couple
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Constantly Refining Your Value Propositions
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Testing Step-by-Step and Measure Your Progress
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Monitor Your Competitors’ Offerings
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… and Continue to Grow & Lead
Reinvent Yourself Constantly
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Final Reminder
