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Monday
Jul152013

ABC of Innovation - V: Value proposition

V: Value proposition

“And while the law of competition may be sometimes hard for the individual, it is best for the race, because it ensures the survival of the fittest in every department.” - Andrew Carnegie

A clear value proposition that fits the needs of your customers gives them a reason to buy from you and not from someone else.

Having an idea is one thing, but turning this idea into a proposition that no customer can resist is quite something else. To define a strong proposition, you should focus on 4 aspects:

  • Consumer insight
  • Offering (Key benefit & Reasons to believe)
  • Brand fit
  • Differentiator.
Too often companies jump from idea to development, leading to products and services with different benefits and confused customers. Creating propositions is hard work and requires focus, dedication and the guts to make choices.

Did you know that...

The biggest challenge in defining propositions is to keep it simple. Too often people can’t choose or compromise when team members disagree on what is most important for the customer. They end up with propositions that ‘do everything for everybody’. And in the end, do not appeal to anyone. Our advice: stick to the rule of ‘single-mindedness’. Create multiple single-minded propositions and test which ones resonate best with your target group. SunIdee has developed an easy to use tool, the Proposition Wheel, offering you a structured approach to turn ideas into strong, single-minded propositions that focus on added value. We can train your team to become experts in proposition writing.

The whole ABC of Innovation can be downloaded from our site by 'Pay-with-a-Tweet-or-post'.

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