INFORMATION TO CHANGE THE WORLD Value Proposition1 Building the Information Centers Value Proposition NOCALL Fall Education Workshop November 12, 2003

Value Proposition 1

INFORMATION TO CHANGE THE WORLDINFORMATION TO CHANGE THE WORLD

Building the Information Center’s Value Proposition

NOCALL Fall Education WorkshopNovember 12, 2003

Libby TrudellSr. Vice President

Information Professional DevelopmentDialog

Value Proposition 2


Building the Information Center’s Value Proposition

•Linking Information Services to Compelling Business Events

•Marketing: Your Elevator Speech

created by Net Worth Consulting, Inc for Dialog, 2002

Value Proposition 3


Today’s Schedule

Introduction 10 Minutes

Who are your Patrons/Clients? 15 Minutes

How Compelling Business Events drive the need for Information

25 Minutes

Practice linking Compelling Business Events to Information

30 Minutes

Next Steps 10 Minutes

Break 10 Minutes

Creating your “elevator speech” 50 minutes

Value Proposition 4


Quantum2

• Linking Information Services to Compelling Business Events is part of Dialog’s Quantum2 program

• Quantum2 is:– A professional development program for information

professionals– A combination of training, communications and tools to

help information professionals develop leadership skills and demonstrate the value of their services to their organizations

– Available free to information professionals worldwide– Quantum.dialog.com

Value Proposition 5


Quantum2 Leadership Circle

Strategic Competencies

•Environmental analysis

•Knowledge culture vision

•Perception analysis

•Relationship management

•Management buy-in

Business Competencies

•Needs assessment

•Service definition

•Marketing:Package,

Promote, Persuade

•Performance

•Measurement

Value Proposition 6


Today’s Schedule




25 Minutes


30 Minutes


Break 10 Minutes


Value Proposition 7


Who Are Your Patrons & Clients?

• Who are your current and potential patrons/clients? Why?

– Anyone who walks in?– The funding department?– The company/organization itself?– A broader constituency (e.g., shareholders,

beneficiaries)?– The field of research itself, connecting to broader

human knowledge?

Value Proposition 8



Anyone

Funders

Company/ Organization

Broad Constituency

Researchers

Exercise #1

Value Proposition 9


Who Are Your Patrons & Clients? Exercise #2

Value Proposition 10



Anyone who walks in?The funding department?The company/organization itself?A broader constituency (e.g., shareholders, beneficiaries)?The field of research itself, connecting to broader human knowledge?

Anyone who walks in?The funding department?The company/organization itself?A broader constituency (e.g., shareholders, beneficiaries)?The field of research itself, connecting to broader human knowledge?

Who is in your “inner circle”

Who should be there?



Today’s Schedule




25 Minutes


30 Minutes


Break 10 Minutes




What Are Compelling Business Events?

• Mergers, acquisitions, divestitures• Products changed or introduced• Regulatory/legal changes• Societal changes• Staffing pattern changes (work-at-home,

redundancies, increased recruitment)• Markets opening or closing• Distribution channel changes



The “Magic Bullet”

Compelling Business Events are the “magic bullet” to

demonstrate the power of the Information Center

Compelling Business Events are the “magic bullet” to

demonstrate the power of the Information Center



The “Magic Bullet”

• How can you recognize Compelling Events?– Sponsorship has been assigned– Action must be taken– Resources have been committed– Attention is on outcomes – within a

particular time frame– Can Info Center help in demonstrable ways?



Linkage

Compelling Financial Events

Client/Patron Priorities

Info Center Assistance



Making Trade-offs Among Customers

• Choosing compelling financial events

– Capture the needs of the broadest grouping of customers where success is most critical,

And

– Build the Info Center brand for the other, less crucial ones.



Driving the Need for Information

• How do compelling business events drive the need for information?

Compelling Business Event Data Source Examples

Mergers, Acquisitions, Divestitures

Annual reports back a few years Research and analyst reports International business press Industry newsletters Local press and business journals (where

large presence) Media (eg FT) transcripts for interviews with

executives





Products Changed or Introduced

Competitive patents, Industry newsletters, esp consumer discussion

forums Demographics Manufacturing demographics of plant Regulatory actions against the particular mfg

or similar products at locations at FDA, brands and their companies,

Thomas register of manufacturing companies





Regulatory/Legal Changes

US, EU Legislation Regulatory Legislation Consultation/White papers Filings of enforcement actions Industry newsletters, call agency Industry Watchdogs





Distribution Channel Changes

Marketing Databases: e.g., Channel -marketing and advertising reference service)

Company directories: e.g., Dun & Bradstreet, industry newsletters for competitive plays



Today’s Schedule




25 Minutes


30 Minutes


Break 10 Minutes




Exercise: Example #1Information Solves Business Problems

Acquire new/expanded practice area:

Weil, Gotshal & Manges expands global competition practice with addition of Clifford Chance Partners.

PR Newswire, Oct 16, 2003 Weil, Gotshal & Manges LLP, one of the world's leading law firms, today

announced an expansion of its highly regarded global competition practice. Steven A. Newborn, James C. Egan, Jr., John E. Scribner and Laura A. Wilkinson will be joining the firm as partners, resident in its Washington, D.C., office. They join Weil, Gotshal & Manges from Clifford Chance.

Assess from perspective of Weil, Gotshal or competing firm



Worksheet: Example #1Information Solves Business Problems

What would happen to your customer And What would it mean to you?

What should you do If this Compelling Financial Event

occurred Best Case Worst Case Expected Case about it? c/p c/p c/p

Acquire new / expanded practice area You You You




Geographic market expansion:

Dewey Ballantine Launches Italian Practice

PR Newswire, Sept 23, 2003

International law firm Dewey Ballantine LLP announced today that, as the next stage in its planned European expansion, it will open offices in Milan and Rome and an Italian desk in the Firm's London office. The launch of the Italian practice, which will take effect on October 1, 2003. Dewey Ballantine's Italian practice will initially be staffed by approximately 20 lawyers...

Assess from perspective of Dewey Ballantine or competing firm







Geographic market expansion You You You




New product Introduction:

Introducing Morgan Lewis Resources: New Enterprise to Assist Companies With Federal Compliance Needs.

PR Newswire, Sept 10, 2003

Morgan Lewis, one of the 10 largest U.S. law firms, today announced the launch of Morgan Lewis Resources, a major initiative to help corporate clients meet their increasingly demanding federal regulatory requirements by providing companies a full spectrum of legal risk containment products and services…

Assess from perspective of either Morgan Lewis or a competing firm…







New product introduction You You You




Change in legislation or policy:

US govt uses Latham man in CSFB case

Story from www.thelawyer.com/lawyernews

Latham & Watkins co-chair of global securities David Brodsky has become the US government's star witness in the obstruction of justice trial against former Credit Suisse First Boston (CSFB) banker Frank Quattrone.

The testimony of the lawyer, a former managing director and general counsel for the Americas for CSFB, who joined Latham's New York office in 2002, signifies another nail in the coffin of the hallowed attorney-client privilege following the publication of the Sarbanes-Oxley Act. The act gives corporations the option of allowing in-house counsel to testify in court by waiving attorney-client privilege.

Consider impact from perspective of any corporate practice area







Change in legislation/policy You You You



Exercise: Compelling Financial Events

Assessing Business Risk!What would happen to your customer And

What would it mean to you?


occurred at your company Best Case Worst Case Expected Case about it?

CUSTOMER

Merge, Acquire, Divest YOU

CUSTOMER

Products Changed or Introduced YOU

CUSTOMER Regulatory/Legal Climate Changes YOU

CUSTOMER Market or Distribution Channel Change YOU

Other?



Today’s Schedule




25 Minutes


30 Minutes


Break 10 Minutes




Two-way Linkage

Compelling Financial Events

Client/Patron Priorities

Info Center Assistance



Closing

• Action

• Support from Quantum2



BREAK!



Marketing: Your Elevator Speech



The Marketing Message

• Why do you use choose a product?• What makes you choose?

– Value– Price– Emotional attachment

• How does that product differentiate itself from others? What makes it unique?



To whom are you marketing?

• People – the original “P”• Who are your customers?

– Now “core market”– Future “prospects”– Hidden audience?

• What are your customers needs?• How well are you providing for them?

– Customer Satisfaction – Do you track it?



1. Your Target Customer

Think in terms of:

– What are my customers’ difficulties?

– What motivates my customers?



What are you marketing?

• Can you easily describe your services/ products?

• Can you describe the value/benefits they bring?

• What is the message you are trying to put forward?– e.g. You provide a trusted, reliable information

service that is the most cost effective alternative



2. Your Deliverables

Use such questions as: – Who are we? – What do we offer? (the services

or features we provide) – What are our key strengths? – What are our limitations?



3. Benefits of Your Services

Use questions such as: – What problem is solved by my

service? – What solutions have worked? – What has failed?



Why are you marketing?

• Create a desire/need for your services?• Create understanding of the value of

your services – develop identity?• Get that message out?• Expand your client base?• Grow your product line?• Counter threats – internal/external?



4. Desired Customer Action

•Call me? •Recommend me to someone else?•Stop by the IRC for a tour?•?



The Elevator Speech Formula

• FOR (target customer)

• WHO (needs or is an opportunity for)

• THE (product or service name)

• IS A (product category)

• UNLIKE (primary competition)

• OUR PRODUCT (primary difference)



Sample Elevator Speech

For Information Professionals who are interested expanding their roles as leaders in

their organizations, Quantum2 is a leadership development program that offers

workshops based on strategic and business competencies.

Unlike other similar programs, ours is not merely information posted on the internet.

It also offers a combination of training, communications and tools to help information professionals demonstrate their value within their organizations.



Marketing Plan Template

• Market Analysis– Target Market– Competition

• Environmental Analysis• Product Analysis• Marketing Strategies

– Positioning and packaging– Promotion and persuasion– Pricing and Budget

• Goals - Measurable and Quantifiable• Monitoring Progress



Thank you!

Questions?

quantum.dialog.com

Libby [email protected]

Documents

INFORMATION TO CHANGE THE WORLD Value Proposition1 Building the Information Centers Value Proposition NOCALL Fall Education Workshop November 12, 2003