Accelerate! Webinar - Do You Have the Right Value Proposition?

7/31/2019 Accelerate! Webinar - Do You Have the Right Value Proposition?

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Cisco Confidential 1 2011 Cisco and/or its affiliates. All rights reserved.

Do You Have the Right ValueProposition?

Todd Lebo, Senior Director of Content, MECLABS

Austin McCraw, Senior Editorial Analyst, MECLABS

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2011 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 2

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Todd LeboSenior Director of Content, MECLABS

[email protected]

@ToddLebo

Austin McCrawSenior Editorial Analyst, MECLABS

[email protected]
mailto:[email protected]:[email protected]:[email protected]:[email protected]


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Experiment ID: (Protected)

Location: MarketingExperiments Research Library

Test Protocol Number: TP1306

Background: Provides end-to-end market solutions for small- and medium-sizedbusinesses.

Goal: Increase the email capture rate of an online form.

Primary research question: Which page will obtain the most form submissions?

Approach: A/B multi-factorial split test that focused on increasing overall

communication of the value proposition.

Research Notes:

Experiment: Background


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Experiment: Control


7/50 2011 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 7

Experiment: Treatment



TreatmentControl

Experiment: Side-by-side



201% increase in total leadsThe optimized version increased captured emails by 201.3%

Experiment: Results



451%

302%

603%257% 28%

Essentially, we applied a

slightly modified version

of the treatment across

other landing pages and

PPC campaigns, to see

significant gains.

Experiment: Results



WHYDOPEOPLESAY YES?



PerceivedValue

Perceived

Cost

What Made the Treatment DesignSo Successful?


13/50 2011 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 13Cisco Confidential 13 2010 Cisco and/or its affiliates. All rights reserved.

POINT 1:

We must have a clear understanding of

the role of the Value Proposition.


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Mission Statement: The things we think and do not say Fewer clients Stronger relationships with clients Be honest with clients, be honest with yourself

Guess the Movie


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Key PrinciplesYour Value Proposition is discovered, not derived.

Value Prop Discovered


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EXAMPLE: GE (B2B)


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EXAMPLE: CATERPILLAR (B2B)


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How would you express your value proposition??

Audience Question


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My company has a value proposition that is: Formalized: it is documented for all employees

Informal: most employees know it, but it is not documented

Not developed: we need to discover our value proposition


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Question: Whats your value proposition?

Power leading companies with advanced stream and gasturbine technology.

We empower your software decisions.

I don't sell products and services, I sell results; my guarantee.

We are the leading technology provider.

Get found online.

This site has what the person is looking to find.

Value Prop Examples


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Value Proposition Question

Key Principles

The answer to the question, What is your value

proposition? can only be discovered by answering

yet another question:

If I am your ideal prospect, why should I buy from

you rather than any of your competitors?


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Value Proposition Question: If am your ideal prospect, why should I

buy from you rather than your competitors?

1. You are fundamentally answering a first-person question posed in the mind ofyour customers.

2. A value proposition focuses on a specific customer segment. This requires you to

consider who you are not going to serve and the associated tradeoffs.

3. A value proposition has a specific action in mind. It is seeking to answer why for

a specific what.

4. A value proposition must differentiate you from your competitors. In at least one

way, you must have an only factor.

Key PrinciplesWhat is a Value Proposition?


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c

Value Proposition: Because Email Summit is the worlds largest1 gathering of

marketers, aimed at overcoming your top2 email challenges with actionable3,

vendor-agnostic4 training grounded in rigorous5 research.

1. 5,250 marketers attended over 7 years

2. Challenges based on 2,735 marketers surveyed, activity worksheets

3. 4 attendee activity sessions, 6 worksheets with a program that includes 44

speakers, 21 case studies, and 5 expert panels

4. 0 sales presentations from the stage

5. 12 years of extensive email research

VP Statement

What is a Value Proposition?


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c










Example: Value Proposition

Claims of Exclusivity


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Modifiers and Evidentials

Example: Value Proposition


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2011 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 26Cisco Confidential 26 2010 Cisco and/or its affiliates. All rights reserved.

POINT 2:We need to understand the relationship

between the core and the derivative value

propositions.


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The Value Proposition Spectrum

1

3

2

Question: Why should [PROSPECT A] buy from


Question: Why should your ideal prospect buy

from you rather than any of your competitors?

Question: Why should [PROSPECT A] buy thisproduct rather than any other product?

Question: Why should [PROSPECT A]

click this PPC ad rather than any other

PPC ad?

Prospect B

PRODUCT

#3

PRODUCT

#4

PRODUCT

#1

PRODUCT

#2

PRODUCT

#3

PRODUCT

#4

PRODUCT

#2

PRODUCT

#3

PRODUCT

#4

Primary

Value

Proposition

Conversion steps

associated with a

specific product

PRODUCT

#2


PROSPECT-LEVEL

PROCESS-LEVEL

PRODUCT

#1PRODUCT

#1

PRODUCT-LEVEL


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1. Underneath a value proposition is an even more fundamental question.

Key Principles

Core vs. Derivative Value Propositions


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Central Value Proposition: If I am your ideal prospect, why should I

buy from you rather than any of your competitors?

Fundamental Question: If I am [a particular prospect] why should I

[take this action] rather than [this/these other action(s)]?

Central Value Proposition: If I am your ideal prospectwhy should I buy

from yourather than (buy from) any of your competitors ?

[a particular prospect]

[this other action][take this action]

The Fundamental Question


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1. Underneath a value proposition is an even more fundamental

question.

2. Understanding this fundamental question gives us the flexibility to

modify and create more specific Derivative Value Propositions at

three essential levels:

A. Prospect level

B. Product level

C. Process level

Key Principles

Core vs. Derivative Value Propositions


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Prospect Level:If I am a CTO, why should I buy from you rather than any of

your competitors?


[this other action]

[take this action]

Product Level:If I am a CTO, whyshould buy this collaboration solution

rather than any other collaboration solution?


[this other action]

[take this action]

Process Level: If I am a CTO, why should I click this webinar invite rather than

any other webinar invite?


[this other action]

[take this action]

Example Derivative Value Propositions


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1

3

2

Question: Why should [PROSPECT A] buy from


Question: Why should your ideal prospect buy

from you rather than any of your competitors?

Question: Why should [PROSPECT A] buy thisproduct rather than any other product?

Question: Why should [PROSPECT A]

click this PPC ad rather than any other

PPC ad?

Prospect B

PRODUCT

#3

PRODUCT

#4

PRODUCT

#1

PRODUCT

#2

PRODUCT

#3

PRODUCT

#4

PRODUCT

#2

PRODUCT

#3

PRODUCT

#4

Primary

Value

Proposition

Conversion steps

associated with a

specific product

PRODUCT

#2


PROSPECT-LEVEL

PROCESS-LEVEL

PRODUCT

#1PRODUCT

#1

PRODUCT-LEVEL


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2011 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 33Cisco Confidential 33 2010 Cisco and/or its affiliates. All rights reserved.

POINT 3:

We need to understand how to intensify

the force of the value proposition.


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HOWWOULDYOUIMPROVETHISVALUEPROPOSITION?

Value Proposition: GE worksby powering leading companies

with advanced stream and gas

turbine technology.

Select the highlighter tool and

place a mark in the box next towhat you think should be changed

in this value proposition

Tell me how GE can help my

business

Tell me what is different about

GE turbines

Tell me why GE is the best

company to purchase from

Its fine the way that it is. I

wouldnt change anything


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Key PrinciplesThe force of a value proposition can be measured by four essential

elements of the offer:

Appeal How much do I desire this offer?

Exclusivity Where else can I get this offer?

Credibility Can I trust your claims?

Clarity What are you actually offering?

The Force of a Value Proposition


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Submitted Value Proposition


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Audience Submission: Because we provide the only up-to date

research report on e-commerce checkout usability that includes

highly actionable visuals and case studies

Submitted Value Proposition

APPEAL

EXCLUSIVITY

CREDIBILITY

CLARITY

1 2 3 4 53

4

1

2

Appeal

Exclusivity

Credibility

Clarity


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SUBMITTED VALUE PROPOSITION

Value Proposition: GE

works by powering

leading companies with

advanced stream and

gas turbine technology.1

00

2

Appeal

Exclusivity

Credibility

Clarity


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SUBMITTED VALUE PROPOSITION

Value Proposition: We're recognized

as one of the leading worldwide

providers of IP-based

communications services to

businesses. We also have the

nation's fastest mobile broadband

network and the largest

international coverage of any U.S.

wireless carrier, offering the mostphones that work in the most

countries; the largest Wi-Fi network

in the United States based on

branded and operated hotspots.

APPEAL

EXCLUSIVITY

CREDIBILITY

CLARITY

1 2 3 4 5

5

4

0

4

Appeal

Exclusivity

Credibility

Clarity


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Experiment ID: (Protected)

Location: MarketingExperiments Research Library

Test Protocol Number: TP1306

Background: Provides end-to-end market solutions for small- and medium-sized

businesses.

Goal: Increase the email capture rate of an online form.

Primary research question: Which page will obtain the most form submissions?

Approach: A/B multi-factorial split test that focused on increasing overall

communication of the value proposition.

Research Notes:

Experiment: Background (from beginning)


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Can you find the

value proposition?

Experiment: Control


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Value Proposition: Because we have the most comprehensive

1

and accurate2 lead database.

1. Includes access to over 210 million U.S. consumers, 16 million U.S.

businesses, and 14 million executives.

2. We have a team of 600 researchers that verify the data daily and make over

21 million verification calls a year, 80,000 calls a day.

After review and testing, the researchers at MECLABS identified the

following value proposition for this offer.

Experiment: Control

Lets see how this intensified value proposition was translated to the webpage


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Value Proposition: Because we

have the most comprehensive1 and

accurate2 lead database.

1. Includes access to over 210 million

U.S. consumers, 16 million U.S.

businesses, and 14 million executives.

2. We have a team of 600 researchers

that verify the data daily and make

over 26 million verification calls a year.

Experiment: Intensifying the force


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Before After

Experiment: Before and after


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201% increase in total leadsThe optimized version increased captured emails by 201.3%

Experiment: Results


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POINT 1: We must have a holistic

understanding of the role of the Value

Proposition.

POINT 3: We need to understand how to intensify the force of the value proposition

POINT 2: We need to understand the

relationship between the core and thederivative value propositions.

Summary

APPEAL

EXCLUSIVITY

CREDIBILITY

CLARITY

1 2 3 4 5

5

40

4

Appeal

Exclusivity

Credibility

Clarity


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Upcoming Accelerate! Sessions:

July 11th How to Optimize Your Marketing Tactics with aStrong Value Proposition

Get Started Crafting an Effective Value Proposition:

Download the Value Prop Worksheet from

MarketingExperiments

Earn up to 20,000 points for attending Accelerate! Sessions:

Register for Cisco Rewards

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Accelerate! Webinar - Do You Have the Right Value Proposition?