Major companies sometimes reach a point where their presence becomes part of a culture that is almost impossible to obscure as long as they continue moving forwards by constantly bringing something new to the market. Their reign is impenetrable, unless new competitors take the spotlight with unseen or revolutionary tools for our society.
Customer value proposition is a description of the experiences a target user will realize upon purchase and use of a product. In my work in product marketing, I haven’t seen many marketing organizations create or employ the customer value proposition. Sometimes, I have seen something called a “value proposition” used. However, those “value propositions” are usually a simple list of benefit statements applied to a generic audience. The customer value proposition is arguably the most important tool in the product marketer’s toolset. It is the foundation for understanding how the product will realistically be valued by the target user. Unlike a benefits statement, a customer value proposition is more balanced. It certainly includes the advantages a target user would experience. But to these benefits it adds the tension of disadvantages and parity experiences. The sum of all of these experiences provides a much more accurate assessment of the product in its marketplace. In the absence of customer value propositions, companies are walking blindly in the marketplace. Businesses underplay the fact that their target users have other options. They ignore that fact that their product has deficiencies some of which may significantly hamper their efforts in the marketplace. Lurking behind the lack of customer value proposition is the real issue – most businesses lack a deep understanding of their target user. They don’t know how that user works and behaves. Businesses don’t perceive the challenges that user faces each day. They haven’t learned how that target user will actually evaluate and use their product. The result is that businesses lack the true conviction of their product’s worth. This is seen in the way they price their product, the way they message their product, and the way they sell their product. The customer value proposition is the keystone for effective product marketing activities. It brings together customer intelligence, competitive insight, and product valuation. It delivers a concise, supportable statement of the product’s value. It quantifies how that value is realized based on all of the target user’s likely product experiences. The customer value proposition provides a focused approach to understanding the target user in the context of your product. This eBook shows you how to create customer value propositions for each of your target users. With these customer value propositions in place, product marketers and managers will find it much easier to direct product roadmaps, write compelling messaging, build supportive sales tools, and excite the whole company. Please feel free to share this eBook with others who would benefit from reading it by posting it on your blog, emailing it, or linking to