Creating a Value Proposition: Guidance on building a value proposition

In this third video of our Customer Value Proposition series, we provide valuable guidance on creating a value proposition. The process of building a value proposition starts with creating an accurate Customer Profile of your B2B customer.

The starting point for creating really good Customer Profiles is to identify your ‘sweet spot customer’. With this information you can pick a typical example of that customer and build a detailed customer profile using this framework. In order to represent the customer base accurately, it would not be unusual for a business to have potentially 3-4 different customer profiles that may need to be developed. However, it is important to bear in my that the customer profile(s) that you have built, as part of creating a value proposition, are ‘typical’ profiles. There is a risk that these customer profiles are seen as ‘generic’.

The real power of this approach is to be able to continually develop your customer profiles, so that every new potential customer is profiled. For example, if you have a sales opportunity with Bill, the CIO of a Pharmaceutical business, you need to understand Bill’s world and not the generic profile of a CIO in the Pharmaceutical industry. Our advice is to use the generic profile to help you move into a more specific profile. In that way, your meetings with Bill will illustrate your genuine interest in his world and in delivering value to Bill.

You can watch our next video in the series on Customer Value Proposition Examples. If you missed our previous video on Value Proposition Design and Development you can also watch that.