This was presented to the InspiredCEOs.Biz group. This is an uncut live recording from the Zoom Room on Thursday 18th June 2020..
One thing for sure is that the post-Covid world will inexorably change! The business landscape is about to enter into a fundamental shift, a new normal world, in which every business will need to adapt and change in one way or another. For some that might mean the essence of their value propositions will need to either pivot or need repositioning in some way.
In this session, Peter shares his unique strategic thinking approach to gain clarity of business value propositions through the lens of product / service portfolios. The key message here is that repositioning or re-evaluation a business value proposition is like two sides of a coin. One side is the company view of products and services, and on the other is the customer view.
Peter’s product / service approach also focuses on the essence of what the product / service IS alongside the experience USING it. Both essence and experience can perhaps best be powerfully articulated from the customer point of view, AND it’s possibly more than one idea / thing.
It’s time to be inventive again before your competition beats you to it?
Relook at your value proposition
What has changed from pre-COVID to post-Covid.
Does that mean any of the essence of your product or the experience of the product need to change?
| Value Proposition | Area | Pre Covid | Post Covid |
| For: | Audience Type | ||
| We Provide: | Service name | ||
| To address: | Customer issues | ||
| By: | Description of the service (the essence / USP) | ||
| Description of total customer experience | |||
| To Deliver: | Measurable outcomes | ||
| Unlike | Competitors |
Review the Essence of your product
It is all too easy to have a great product and still leak customers because of the way your team deliver the whole experience. Like Hilton vs Travelodge Hotels, what do customers really want and how do we then orient and engineer that as part of your essence?
For Charities – younger people don’t want to just give money – they want to be engaged.
So you need to think about that as part of your essence
Essence – is perhaps most powerfully identified / articulated from the customer point of view AND it’s possibly more than one idea / thing nWe’re all in the service, relationship and technology business
| Component | Where does it leak customers? |
| Your People | |
| Your Process | |
| Technology | |
| Assets (IP) | |
| Channel / Geography | |
| Price |
Review the EXPERIENCE of your Product
This links to Marketing and Sales but this is more about the experience of being marketed or sold to rather than the marketing and sales process. We often look at sales and marketing as the PUSH but what does it feel like / how is it experienced from the other side from your customers’ view?
But no-one likes or wants to be SOLD to; We are more informed and want to feel in control of the decision making process.
So, think about the ‘whole’ customer journey / experience from getting found to raving fan beyond the sale.
BRAND EXPERIENCE – Are you responsive, consistent, credible, approachable, friendly, authentic etc (whatever matters to how you want to be perceived)
| Component | Where does it leak customers? |
| Before I buy | |
| When I test it out | |
| When I buy | |
| After I buy | |
| When I use it | |
| What I like about it | |
| What the brand & style says |
Find out More
InspiredCEOs.Biz is a virtual community of CEOs who realise that to grow their businesses, they must also grow. If you are running a business or business unit of 5-50 staff, and recognise your success come from learning, and solving your challenges with other business leaders, then join us at our next Visitor’s Day (inspiredceos.biz) – which runs on Zoom from 07:345-09:30 UK time.