Gain an independent understanding of what your customers really value
A value proposition sets out how your solutions respond directly to your customers’ needs. It positions an organisation in the minds of customers as offering value in a specific way. One option is to review your products or services in the context of your existing customer markets to identify specific segments that can be targeted with an offer that clearly articulates the value to that segment. With this approach, the value proposition must demonstrate how the products or services overcome your customer challenges. A more transformative approach to value proposition development would be to identify key target markets and adapt your products and services to make them best in class for those markets. Emirates Airline, for example, regularly reviews their customer engagement models, develops new customer value propositions and new partnership models to innovate and transform. Both approaches typically include an analysis of all aspects of your market: size, characteristics, demographics, and psychographics. Dependent on the available resource, a proposition can be validated through customer, partner, and prospect testing.
Whichever approach you choose, customer relevance is a critical element of a successful value proposition and I would be glad to help.