Heuristics #12 – Value Propositions
A value proposition (VP) addresses topics such as WHO your ideal customers are, WHAT specific need they have, WHICH of your solutions address this need, HOW your solution addresses that need, including the benefits, and WHY customers should select your solution over the competition.
Even if you do not have a formal statement called a VP, you probably do not have to create a VP from scratch. You rather only need to formalize already existing insights. How do we do that?
Heuristic 1: Select your VP format
I prefer the Geoffrey Moore version.
Heuristic 2: Draft your VPs in cascading levels
Value propositions can be, and some argue should be, tiered. Company-level, segment-level, product-level and prospect-level. Start with the company level.
Heuristic 3: Draft, shred and refine
Populate and use a technique called shredding to refine. Run the shredding technique through all business functions and your ecosystem (Selected, trusted suppliers, and clients).