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© The Marx Group
Stand Out from the Crowd:
Defining Your Company’s
Value Proposition
Presented By
Tom Marx
© The Marx Group
2
WHAT YOU WILL
LEARN
1. What is a value proposition
2. How to develop your own
3. How to implement & communicate
Stand Out from the Crowd: Defining Your Company’s Value Proposition
© The Marx Group
3
HOW DO YOU WANT
PEOPLE TO PERCEIVE
YOUR COMPANY?
Customers
Employees
Suppliers
Owners/Stakeholders/Investors
Community
Stand Out from the Crowd: Defining Your Company’s Value Proposition
© The Marx Group
4
1.WHAT IS A VALUE PROPOSITION?
Provides consistent and clear communication about
your company, its purpose, products and brand
• Defines your brand
• Creates your company’s internal and external perception
• Stands you apart from competitors
Stand Out from the Crowd: Defining Your Company’s Value Proposition
© The Marx Group
5
VALUE PROPOSITION
BUILDING BLOCKS
Stand Out from the Crowd: Defining Your Company’s Value Proposition
© The Marx Group
6
CORE VALUES
• Values that shape the foundation on which your company
works and conducts itself
• Defines your company ethics, standards and practices
• Implemented every day in everything you do
Stand Out from the Crowd: Defining Your Company’s Value Proposition
© The Marx Group
7Stand Out from the Crowd: Defining Your Company’s Value Proposition
CORE VALUES EXAMPLE
Customer Focus
Expectation & Results
Adaptability & Credibility
Prudent Risk
Team Efforts
Attention to Detail
Integrity & Honesty
Pride
© The Marx Group
8
We are ENTHUSIASTIC, HARDWORKING
PROFESSIONALS who are DEDICATED to
TEAMWORK, SAFETY and EXCELLENT
CUSTOMER SERVICE. We will practice
EXPENSE CONTROL while setting an
example of RESPECT, HONESTY, and a
WIN-WIN ATTITUDE in everything we do.
Stand Out from the Crowd: Defining Your Company’s Value Proposition
CORE VALUES EXAMPLE
© The Marx Group
9Stand Out from the Crowd: Defining Your Company’s Value Proposition
CORE VALUES EXAMPLE
Excellence: We are committed to winning with
integrity...
Teamwork: We treat one another with respect and
communicate openly…
Innovation: We thrive on creativity and ingenuity…
Community: We share an infectious sense of mission
to make an impact on society and empower
consumers in ways never before possible…
Customer Fixation: We respect our customers above
all else and never forget that they come to us by
choice…
Fun: We believe humor is essential to success…
© The Marx Group
10Stand Out from the Crowd: Defining Your Company’s Value Proposition
© The Marx Group
11
BRAND PILLARS
• Coordinates with core values
• Supports how the internal and external world sees your
company and your products
• What the Brand stands for
Stand Out from the Crowd: Defining Your Company’s Value Proposition
© The Marx Group
12Stand Out from the Crowd: Defining Your Company’s Value Proposition
BRAND PILLAR EXAMPLES
Quality, integrity and innovation
Inspire creativity, passion, optimism and fun
Quality, value, and reliability
© The Marx Group
13
MISSION STATEMENT
Answers the question, "Why do we exist?“
• Focus on your direction—where you are going
• Concise internal and external communication
Stand Out from the Crowd: Defining Your Company’s Value Proposition
© The Marx Group
14Stand Out from the Crowd: Defining Your Company’s Value Proposition
MISSION STATEMENT EXAMPLES
Our mission: to inspire and nurture the human spirit – one
person, one cup and one neighborhood at a time.
To Bring Inspiration and innovation to every athlete
in the world.
It is the Mission of Advance Auto Parts to provide personal
vehicle owners and enthusiasts with the vehicle related
products and knowledge that fulfill their wants and needs at
the right price. Our friendly, knowledgeable and professional
staff will help inspire, educate and problem-solve for our
customers.
Dana will grow profitably in the world's vehicular markets and
provide industry leading shareholder value.
© The Marx Group
15
UNIQUE SELLING
PROPOSITION
What makes company/brand more unique, valuable, and
visible in the market?
Stand Out from the Crowd: Defining Your Company’s Value Proposition
© The Marx Group
16Stand Out from the Crowd: Defining Your Company’s Value Proposition
UNIQUE SELLING PROPOSITION
EXAMPLES
Finance or lease any new Hyundai and if in the next
year you lose your income, you can return the vehicle
at no further obligation
Melts in your mouth, not in your hand
Pizza delivered in 30 minutes or it is free
Online quote comparison could save you hundreds of
dollars
© The Marx Group
17
KEY MESSAGES
• Critical messages that you want to communicate
• Enhance relationships with your target audiences
• Shape how you position your company
• Guide how you talk about your company, its services & products
Stand Out from the Crowd: Defining Your Company’s Value Proposition
© The Marx Group
18
• 3M is a diversified technology company
• 3M applies innovation systematically to anticipate and
respond to customer needs
• Practical and ingenious solutions are a strong part
of 3M’s legacy
• 3M is a global company with local presence
throughout the world.
Stand Out from the Crowd: Defining Your Company’s Value Proposition
KEY MESSAGES EXAMPLES
© The Marx Group
19
• Driveway Solutions Provider
• A friend to the community
• Reduces the jar to your car
• Made in the USA from recycled tires
• Satisfaction guaranteed—or your money back
Stand Out from the Crowd: Defining Your Company’s Value Proposition
KEY MESSAGES EXAMPLE
© The Marx Group
20
• Aerospace precision
• Dyno and race proven
• Ultra-high load factors
• Bulls Eye Wall Tolerances – best available (.0001)
• Endorsed by the best (Ron Shaver and others)
• Global Technology and manufacturing
Stand Out from the Crowd: Defining Your Company’s Value Proposition
KEY MESSAGES EXAMPLE
© The Marx Group
21
VALUE PROPOSITION
BUILDING BLOCKS
Stand Out from the Crowd: Defining Your Company’s Value Proposition
© The Marx Group
22
1. Gather your team
2. Brainstorming
3. Fine Tune
Stand Out from the Crowd: Defining Your Company’s Value Proposition
2. HOW TO DEVELOP YOUR OWN VALUE
PROPOSITION
© The Marx Group
23
GATHER YOUR TEAM
Should consist of 4-8 people
• Owners
• Managers
• Opened minded employees
• Strategy Consultants
• Out-of-the-box thinkers
• Long term employees
Stand Out from the Crowd: Defining Your Company’s Value Proposition
© The Marx Group
24
BRAINSTORMING
SESSION
1. Describe your company
2. Determine how you want to be seen in the world
3. Perform a SWOT analysis
4. Review your competitors
Stand Out from the Crowd: Defining Your Company’s Value Proposition
© The Marx Group
25
DESCRIBE YOUR COMPANY
• What your company has to offer?
• Are you a great place to work?
• Are you visible within the business and
local community?
• Are you focused on green products
Stand Out from the Crowd: Defining Your Company’s Value Proposition
© The Marx Group
26
DETERMINE HOW YOU WANT
TO BE SEEN IN THE WORLD
Declare leadership in your category
• First to market?
• The technology leader?
• #1 with new patents?
• Most visible at racing events?
• Low price leader?
• Green products leader?
Stand Out from the Crowd: Defining Your Company’s Value Proposition
© The Marx Group
27
SWOT
ANALYSIS
Stand Out from the Crowd: Defining Your Company’s Value Proposition
STRENGTHS WEAKNESSES
OPPORTUNITIES THREATS
© The Marx Group
28
REVIEW YOUR COMPETITORS
• Research the strengths and
weaknesses or your competition
• Learn competitive market share
• Do a SWOT analysis major
competitors and compare with
yours
• Observe their marketing activity,
packaging, merchandising and
promotions
• Test competitors’ products
Stand Out from the Crowd: Defining Your Company’s Value Proposition
© The Marx Group
29
CRITIQUE/SURVEY
• Industry leaders
• Consultants
• Friends
• Customers
• Employees
Stand Out from the Crowd: Defining Your Company’s Value Proposition
• Intriguing
• Truthful
• Honest
• Original
• Memorable
Determine if each building block isGet feed back from
© The Marx Group
30
FINE TUNE
• Gather your team to review the
assessments of others
• Write the final value proposition
• Train your team and keep it in front of them
• When selling or marketing, be sure your
Value Proposition is always present
Stand Out from the Crowd: Defining Your Company’s Value Proposition
Value Proposition
Idea
Idea
Idea
© The Marx Group
31Stand Out from the Crowd: Defining Your Company’s Value Proposition
Internal
Communications
External
Communications
IMPLEMENTATION & COMMUNICATION
Value
Proposition
© The Marx Group
32Stand Out from the Crowd: Defining Your Company’s Value Proposition
Internal Communications
Employees
• Training
• Handbook/DVD
• Events
• Team building
• Open communications
• Listening to ideas &
suggestions
Stakeholders & investors
• Accurate information
• Frequent communication
• Honest projections
INTERNAL COMMUNICATION
© The Marx Group
33
EXTERNAL COMMUNICATION
Stand Out from the Crowd: Defining Your Company’s Value Proposition
External Communications
Outer Appearance
• Uniforms
• Store Design
• Trucks
• Waiting Rooms
Marketing
• Website
• Sell sheets
• Business Cards
• Trade Shows
• Telephone Messages
• Signage
• Packaging
• Merchandising
Customers
• Deliver what you promise
and when you promise
• Prompt and fair handling of
disputes and warranty
claims = “the customer is
always right”
Supplier Relationships
• Seek the best and
fairest deal
• Be their favorite
© The Marx Group
34
VALUE PROPOSITION
BUILDING BLOCKS
Stand Out from the Crowd: Defining Your Company’s Value Proposition
• The foundation supports the structure
• The brand is how the world sees you
• Think about the most powerful brands in
the world – Coca Cola, Apple, BMW –
what’s the first thought that comes up?
• Keep your Value Proposition always present
© The Marx Group
35
THANK YOU!
For a step by step guide to developing your value proposition please feel free to email me.
The Marx Group
TOM MARX
CEO/President
tmarx@themarxgrp.com
415.453.0844 ext. 106
35

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Stand Out from the Crowd - Defining Your Company’s Value Proposition

  • 1. © The Marx Group Stand Out from the Crowd: Defining Your Company’s Value Proposition Presented By Tom Marx
  • 2. © The Marx Group 2 WHAT YOU WILL LEARN 1. What is a value proposition 2. How to develop your own 3. How to implement & communicate Stand Out from the Crowd: Defining Your Company’s Value Proposition
  • 3. © The Marx Group 3 HOW DO YOU WANT PEOPLE TO PERCEIVE YOUR COMPANY? Customers Employees Suppliers Owners/Stakeholders/Investors Community Stand Out from the Crowd: Defining Your Company’s Value Proposition
  • 4. © The Marx Group 4 1.WHAT IS A VALUE PROPOSITION? Provides consistent and clear communication about your company, its purpose, products and brand • Defines your brand • Creates your company’s internal and external perception • Stands you apart from competitors Stand Out from the Crowd: Defining Your Company’s Value Proposition
  • 5. © The Marx Group 5 VALUE PROPOSITION BUILDING BLOCKS Stand Out from the Crowd: Defining Your Company’s Value Proposition
  • 6. © The Marx Group 6 CORE VALUES • Values that shape the foundation on which your company works and conducts itself • Defines your company ethics, standards and practices • Implemented every day in everything you do Stand Out from the Crowd: Defining Your Company’s Value Proposition
  • 7. © The Marx Group 7Stand Out from the Crowd: Defining Your Company’s Value Proposition CORE VALUES EXAMPLE Customer Focus Expectation & Results Adaptability & Credibility Prudent Risk Team Efforts Attention to Detail Integrity & Honesty Pride
  • 8. © The Marx Group 8 We are ENTHUSIASTIC, HARDWORKING PROFESSIONALS who are DEDICATED to TEAMWORK, SAFETY and EXCELLENT CUSTOMER SERVICE. We will practice EXPENSE CONTROL while setting an example of RESPECT, HONESTY, and a WIN-WIN ATTITUDE in everything we do. Stand Out from the Crowd: Defining Your Company’s Value Proposition CORE VALUES EXAMPLE
  • 9. © The Marx Group 9Stand Out from the Crowd: Defining Your Company’s Value Proposition CORE VALUES EXAMPLE Excellence: We are committed to winning with integrity... Teamwork: We treat one another with respect and communicate openly… Innovation: We thrive on creativity and ingenuity… Community: We share an infectious sense of mission to make an impact on society and empower consumers in ways never before possible… Customer Fixation: We respect our customers above all else and never forget that they come to us by choice… Fun: We believe humor is essential to success…
  • 10. © The Marx Group 10Stand Out from the Crowd: Defining Your Company’s Value Proposition
  • 11. © The Marx Group 11 BRAND PILLARS • Coordinates with core values • Supports how the internal and external world sees your company and your products • What the Brand stands for Stand Out from the Crowd: Defining Your Company’s Value Proposition
  • 12. © The Marx Group 12Stand Out from the Crowd: Defining Your Company’s Value Proposition BRAND PILLAR EXAMPLES Quality, integrity and innovation Inspire creativity, passion, optimism and fun Quality, value, and reliability
  • 13. © The Marx Group 13 MISSION STATEMENT Answers the question, "Why do we exist?“ • Focus on your direction—where you are going • Concise internal and external communication Stand Out from the Crowd: Defining Your Company’s Value Proposition
  • 14. © The Marx Group 14Stand Out from the Crowd: Defining Your Company’s Value Proposition MISSION STATEMENT EXAMPLES Our mission: to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time. To Bring Inspiration and innovation to every athlete in the world. It is the Mission of Advance Auto Parts to provide personal vehicle owners and enthusiasts with the vehicle related products and knowledge that fulfill their wants and needs at the right price. Our friendly, knowledgeable and professional staff will help inspire, educate and problem-solve for our customers. Dana will grow profitably in the world's vehicular markets and provide industry leading shareholder value.
  • 15. © The Marx Group 15 UNIQUE SELLING PROPOSITION What makes company/brand more unique, valuable, and visible in the market? Stand Out from the Crowd: Defining Your Company’s Value Proposition
  • 16. © The Marx Group 16Stand Out from the Crowd: Defining Your Company’s Value Proposition UNIQUE SELLING PROPOSITION EXAMPLES Finance or lease any new Hyundai and if in the next year you lose your income, you can return the vehicle at no further obligation Melts in your mouth, not in your hand Pizza delivered in 30 minutes or it is free Online quote comparison could save you hundreds of dollars
  • 17. © The Marx Group 17 KEY MESSAGES • Critical messages that you want to communicate • Enhance relationships with your target audiences • Shape how you position your company • Guide how you talk about your company, its services & products Stand Out from the Crowd: Defining Your Company’s Value Proposition
  • 18. © The Marx Group 18 • 3M is a diversified technology company • 3M applies innovation systematically to anticipate and respond to customer needs • Practical and ingenious solutions are a strong part of 3M’s legacy • 3M is a global company with local presence throughout the world. Stand Out from the Crowd: Defining Your Company’s Value Proposition KEY MESSAGES EXAMPLES
  • 19. © The Marx Group 19 • Driveway Solutions Provider • A friend to the community • Reduces the jar to your car • Made in the USA from recycled tires • Satisfaction guaranteed—or your money back Stand Out from the Crowd: Defining Your Company’s Value Proposition KEY MESSAGES EXAMPLE
  • 20. © The Marx Group 20 • Aerospace precision • Dyno and race proven • Ultra-high load factors • Bulls Eye Wall Tolerances – best available (.0001) • Endorsed by the best (Ron Shaver and others) • Global Technology and manufacturing Stand Out from the Crowd: Defining Your Company’s Value Proposition KEY MESSAGES EXAMPLE
  • 21. © The Marx Group 21 VALUE PROPOSITION BUILDING BLOCKS Stand Out from the Crowd: Defining Your Company’s Value Proposition
  • 22. © The Marx Group 22 1. Gather your team 2. Brainstorming 3. Fine Tune Stand Out from the Crowd: Defining Your Company’s Value Proposition 2. HOW TO DEVELOP YOUR OWN VALUE PROPOSITION
  • 23. © The Marx Group 23 GATHER YOUR TEAM Should consist of 4-8 people • Owners • Managers • Opened minded employees • Strategy Consultants • Out-of-the-box thinkers • Long term employees Stand Out from the Crowd: Defining Your Company’s Value Proposition
  • 24. © The Marx Group 24 BRAINSTORMING SESSION 1. Describe your company 2. Determine how you want to be seen in the world 3. Perform a SWOT analysis 4. Review your competitors Stand Out from the Crowd: Defining Your Company’s Value Proposition
  • 25. © The Marx Group 25 DESCRIBE YOUR COMPANY • What your company has to offer? • Are you a great place to work? • Are you visible within the business and local community? • Are you focused on green products Stand Out from the Crowd: Defining Your Company’s Value Proposition
  • 26. © The Marx Group 26 DETERMINE HOW YOU WANT TO BE SEEN IN THE WORLD Declare leadership in your category • First to market? • The technology leader? • #1 with new patents? • Most visible at racing events? • Low price leader? • Green products leader? Stand Out from the Crowd: Defining Your Company’s Value Proposition
  • 27. © The Marx Group 27 SWOT ANALYSIS Stand Out from the Crowd: Defining Your Company’s Value Proposition STRENGTHS WEAKNESSES OPPORTUNITIES THREATS
  • 28. © The Marx Group 28 REVIEW YOUR COMPETITORS • Research the strengths and weaknesses or your competition • Learn competitive market share • Do a SWOT analysis major competitors and compare with yours • Observe their marketing activity, packaging, merchandising and promotions • Test competitors’ products Stand Out from the Crowd: Defining Your Company’s Value Proposition
  • 29. © The Marx Group 29 CRITIQUE/SURVEY • Industry leaders • Consultants • Friends • Customers • Employees Stand Out from the Crowd: Defining Your Company’s Value Proposition • Intriguing • Truthful • Honest • Original • Memorable Determine if each building block isGet feed back from
  • 30. © The Marx Group 30 FINE TUNE • Gather your team to review the assessments of others • Write the final value proposition • Train your team and keep it in front of them • When selling or marketing, be sure your Value Proposition is always present Stand Out from the Crowd: Defining Your Company’s Value Proposition Value Proposition Idea Idea Idea
  • 31. © The Marx Group 31Stand Out from the Crowd: Defining Your Company’s Value Proposition Internal Communications External Communications IMPLEMENTATION & COMMUNICATION Value Proposition
  • 32. © The Marx Group 32Stand Out from the Crowd: Defining Your Company’s Value Proposition Internal Communications Employees • Training • Handbook/DVD • Events • Team building • Open communications • Listening to ideas & suggestions Stakeholders & investors • Accurate information • Frequent communication • Honest projections INTERNAL COMMUNICATION
  • 33. © The Marx Group 33 EXTERNAL COMMUNICATION Stand Out from the Crowd: Defining Your Company’s Value Proposition External Communications Outer Appearance • Uniforms • Store Design • Trucks • Waiting Rooms Marketing • Website • Sell sheets • Business Cards • Trade Shows • Telephone Messages • Signage • Packaging • Merchandising Customers • Deliver what you promise and when you promise • Prompt and fair handling of disputes and warranty claims = “the customer is always right” Supplier Relationships • Seek the best and fairest deal • Be their favorite
  • 34. © The Marx Group 34 VALUE PROPOSITION BUILDING BLOCKS Stand Out from the Crowd: Defining Your Company’s Value Proposition • The foundation supports the structure • The brand is how the world sees you • Think about the most powerful brands in the world – Coca Cola, Apple, BMW – what’s the first thought that comes up? • Keep your Value Proposition always present
  • 35. © The Marx Group 35 THANK YOU! For a step by step guide to developing your value proposition please feel free to email me. The Marx Group TOM MARX CEO/President tmarx@themarxgrp.com 415.453.0844 ext. 106 35