Mobile Academy: Value Proposition

Posted on October 16, 2012


Mobile Academy : Value Proposition
D2 Value Pro­pos­i­tion What true bene­fits are you offering your users? What is your elev­ator pitch? Focus by using various tools such as writing your first Adcept, Press Release and tweet from a fan/critic. This is a good lead in to the Brand Cre­ation work­shop in October. Priya Prakash 25/9, 6.30pm (Tues)
any notes that are in italics and [] are mine, so blame me.

The value proposition and the business case are the ying and yang of the service

Defined: a promise of value, and therefore why someone will purchase the service.
Don’t be stuck with thinking that your idea must be unique,  however it should have differences to those in the market.  Unique ideas are rare,  so it’s ok to not be first.  [First movers have an advantage,  but they also have to do the heavy lifting, getting the idea off the ground, establishing the market etc.]
Make sure that your value proposition is not just a List of features,  it needs to be defined in terms that the customer will understand. [so avoid jargon, obscure ideas, and write it from the customer’s point of view, not the service’s or the company’s]
Take care about how the financial areas are discussed because the customer needs to understand them.  Someone said use the language you would use down the pub [without the naughty bits,  yes I’m looking at you !]
Include thinking about
  • how your app will be discovered, and
  • how you will get noticed amongst the 4 million apps in the Apple store
Your value proposition is a communication tool, so do communicate with it,  test it on people, and use it when talking to businesses about your idea.  [It should stand up,  and quickly an effectively communicate your ideas without too much clutter.  Also when you define the product or service you need everyone involved to be in synch,  this is one way to ensure that all are talking about the same service.  To this end look for ambiguous terms,  and then nuke em, and replace them with words or expressions that are not open to interpretation.]
In a Maslow like way its possible to say that most apps are focused on  the love which is equal to usability,  however consider the upper layers of proficiency = self esteem.  Or creativity which   = self actualisation
Here is Priya’s diagram which I cannot explain without too many words !
Often the best ideas come from users, thus if you can allow for APIs and/or other ways for users to extend and use your product then typically only good things happen.  [Further this embeds your product into more products and services,  which in turns increases the value proposition.  Sometime this is a deliberate business to business to customer, so called b2b2c.  However it is a difficult position to explain.]
Don’t fall into the trap of thinking that a value proposition is a brand tag line, coz it’s not,  got it.
A good value prop is:
  • Clear / simple
  • shows concrete results
  • Show the differentiation
  • Avoids hype no adjectives
  • It can be understood in 5 seconds
Get to the core, make it real, and make it believable.
Of course you cannot just be selfless and expect stuff to happen,  so consider boosters,  that will make your product or service more appealing.  Boosters are phrases that trigger a purchase,  eg “free”,  or “guarantee”, fast shipping, no license fee, or licensed for n computers.  [seems to me that these are the aspects of a product or service that are the tipping point to make a user buy.  and it’s true,  there are a lot of folks who would not buy something if there is a shipping cost associated with it.]
There is no secret source to constructing a Value Proposition, thus the best approach is to show the promise.
Priya, the lecturer, is an ex-Nokia brand person,  and she explains that Nokia use a Brand Ladder of KSPs *
Value.   – emotional drivers
Customer benefit.  –  user need / desire
Product benefit. –  how feeds back to the product
Feature – how are these things translated into actions
*KSP – Key Selling Point.
Here is a thing to try with your product or service,  filling the rest of the sentences
For ……………… (name the target audience)
who have ……………… (statement of need or opportunity)
The  ………………(your product/service)  is a ……………… (category)
That ……………… (key benefit)
Unlike ……………… (competitors)
Differentiator is ………………