Mark Coronna is the Chief Marketing Officer of Chief Outsiders, a company focused on accelerating growth for their customers. Today’s show focuses on the importance of a value proposition. Mark has seven key points to consider when it comes down to explaining your value proposition to your customers, how to market it in the best way, and how to keep it relevant as the markets change years later. Value propositions are incredibly vital to the growth of your company and it is not something you should skim over!
Key Takeaways:
[1:35] What does Mark do for Chief Outsiders?
[6:05] Every company needs a value proposition. A value proposition is the heart of what you offer.
[7:00] Only 7% of leadership teams can articulate their own company’s value proposition. However, a majority of them think that 85% of their employees can articulate it. That simply doesn’t work!
[7:45] Markets can change. Is your value proposition still relevant in today’s market after being in business for 3-5-10 years?
[9:00] How do you discover your value proposition and make sure it’s is still relevant as well as communicated well within the company? Here are seven points to consider.
[11:40] How does Mark define ‘distinctive competences’?
[16:45] Write the value proposition in your customer’s language. Don’t make it sound like something only Ph.D.s can read (unless they are your target customer).
[19:10] Validate your value propositions with your customers. Get them to take a survey or even interview them one-on-one.
[19:45] Adopt an ‘outsider’ perspective and really make your benefits obvious to the customer. No one really cares if you’ve been in business since 1962.
[24:25] You may have 4-6 different types of value propositions to bring to the customer, but it’s important to get the order right between each of these. Which one is the most important to you and your customers?
[26:00] How do you accurately market these value propositions to your customers?
[29:35] Once you finally have your value propositions down, how do you go about making sure it’s still relevant three years later?
[32:40] Todd does a quick recap of all seven points.
[33:45] What kind of mistakes do companies typically make when trying to find, and then market, their value propositions?
[35:00] What things should someone focus on if they were trying to implement something like this today?
[38:00] Value propositions are vital when it comes to your company’s growth and quality of service.
Mentioned in This Episode:
Call Mark: 612-554-0081