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Value Proposition - Entrepreneurship 101

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MaRS Discovery District
MaRS Discovery District

The document discusses different ways to articulate the value of a business or product, including the value proposition, elevator pitch, positioning statement, metaphors, and taglines. It provides examples and templates for crafting compelling value statements and positioning tools that clearly communicate what the offering is, who it is for, and what unique benefits it provides.

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Joseph Wilson @joeatmars jwilson@marsdd.com " "
Agenda What is a value proposition? Examples Value Proposition Canvas Mission Statement Elevator Pitch Positioning Statement Metaphors Tag line
Value Proposition - Entrepreneurship 101
How to (not) articulate value:
A note on language: You are a translator volatile organic compounds cache-coherence DRM, LAMP monetize incentivize osteoblast service-dependent sublayer X
A note on language: Show, don’t tell state of the art groundbreaking landmark sensational disruptive ideation amazing revolutionary awesome innovative breath-taking cutting edge X
A value proposition is a statement of the unique benefits delivered by your offering to the target customer
A value proposition is a hypothesis that your offering will bring certain values to a target customer. * * Like any hypothesis, it needs to be rigorously tested in the lab (read: with customers) before money is put into scaling.
The value proposition statement should consist of these components: 1. What your product/service is 2. The target customer 3. The value you provide them Emergent property: why your product is unique
Examples: Good: “Winners is a department store that offers fashion conscious consumers the latest brand names for up to 60 per cent off.” (Winners) Bad: “Winners is an off-price department store owned by TJX that employs international sourcing and buying power.” What is it? For whom? Values?
Examples: Good: “Winners is a department store that offers fashion conscious consumers the latest brand names for up to 60 per cent off.” (Winners) Bad: “Winners is an off-price department store owned by TJX that employs international sourcing and buying power.” What is it? For whom? Values?
Examples: Good: “A1 Industries has developed an economical and easy-to-use chemical additive that allows paint manufacturing companies to reduce the environmental impact of their products Bad: “A1 Industries has discovered a chemical isomer additive that allows for a reduction of VOC emissions.” What is it? For whom? Values?
Examples: Good: “A1 Industries has developed an economical and easy-to-use chemical additive that allows paint manufacturing companies to reduce the environmental impact of their products Bad: “A1 Industries has discovered a chemical isomer additive that allows for a reduction of VOC emissions.” What is it? For whom? Values?
Examples: Good: “Google is the world’s largest search engine that allows internet users to find relevant information quickly and easily.” Bad: “Google uses a patented page- ranking algorithm to make money through ad placement.” What is it? For whom? Values?
Examples: Good: “Google is the world’s largest search engine that allows internet users to find relevant information quickly and easily.” Bad: “Google uses a patented page- ranking algorithm to make money through ad placement.” What is it? For whom? Values? Are Internet Users really Google’s customers?
Examples: Good: “Google is the world’s largest search engine that automatically provides advertisers with potential customers tailored to the ad content, increasing click-through rates and conversion rates.” Bad: “Google uses a patented page- ranking algorithm to make money through ad placement.” What is it? For whom? Values?
Saving/making money Saving time Lower risk Enabling function Convenience Quality Customizable Usability Social Inclusion Health Aesthetics Status Newness Environmental Self-Actualization Ethical Selling to Business Selling to Customer
Value Prop Template: __company name_______ has created __product ___ for _____target audience________, that results in ___value 1_________, __value 2____, ____value 3__.
Value Proposition - Entrepreneurship 101
Value Proposition - Entrepreneurship 101
Value Proposition - Entrepreneurship 101
Value Proposition - Entrepreneurship 101
Value Proposition - Entrepreneurship 101
Value Proposition - Entrepreneurship 101
Value Proposition - Entrepreneurship 101
Value Proposition - Entrepreneurship 101
Value Proposition - Entrepreneurship 101
Value Proposition - Entrepreneurship 101
Value Prop Template: For _____target audience________, __company name_______ has created __product name___ that results in ___value 1_________, __value 2____, ____value 3__.
Value Proposition is Not: A tag-line A mission statement An elevator pitch A positioning statement A positioning metaphor
Value Proposition Tag-line Mission statement Elevator Pitch Positioning statement Metaphor
Core Thesis Marketing Marketing Marketing Marketing Marketing
Value Proposition Tag-line Mission statement Elevator Pitch Positioning statement Metaphor
Elevator pitch: A 60 second quick pitch that describes the business. Hook Problem Solution (value prop-ish) Unique Features Call to action
The Hook: “I buy dead magazines…” “We make conferences not boring….” “We sell 15 minute vacations…” “What do you mean?” The Problem: “Paper based magazines are failing…” “Conferences are usually based on one-way lectures….” “People’s commute to work is stressful…”
The solution: “We buy up print magazines that are failing and reinvent them on the web as digital publications. For traditional small magazine publishers my company Solid Media provides an online template called digipub which repurposes their print material for online consumption at lower cost and opens up their content to a new crop of advertisers.
The solution: “We buy up print magazines that are failing and reinvent them on the web as digital publications. For traditional small magazine publishers my company Solid Media provides an online template called digipub which repurposes their print material for online consumption at lower cost and opens up their content to a new crop of advertisers. What is it? For whom? Values?
The solution: “We buy up print magazines that are failing and reinvent them on the web as digital publications. For traditional small magazine publishers my company XYZ Media provides a platform called digipub which repurposes their print material for online consumption at lower cost and opens up their content to a new crop of advertisers. “Hmmm, good idea” Unique features: “We add the e-magazines metadata into our recommendation engine, kind of like Amazon, which brings in new readers.” Call-to-action: “We’re signing up beta customers now to play around with the platform and tell us what they think. Check it out” [hands out business card]
Value Proposition Tag-line Mission statement Elevator Pitch Positioning statement Metaphor
Positioning statement: a value proposition plus a competitive anchor. For traditional small magazine publishers my company Solid Media provides a template called digipub which repurposes their print material for online consumption at lower cost and opens up their content to a new crop of advertisers. Unlike Press Publisher 4.0, digipub adds metadata to your content, connecting you with new readers and new advertisers.
Positioning statement: a value proposition plus a competitive anchor. For traditional small magazine publishers my company Solid Media provides a template called digipub which repurposes their print material for online consumption at lower cost and opens up their content to a new crop of advertisers. Unlike Wordpress, digipub is for magazine publishers alone to repurpose their content and discover new readers online.
Value Proposition Tag-line Mission statement Elevator Pitch Positioning statement Metaphor
Metaphor: a way to anchor your brand to something people already understand “digipub is like Shopify for magazines.” “digipub is to the magazine industry what Kobo is for books.” “digipub is like Wordpress for Magazines. “digipub combines the metadata from Amazon with the templates in Wordpress specifically for magazine publishers.”
Value Proposition Tag-line Mission statement Elevator Pitch Positioning statement Metaphor
Tagline: a marketing line to accompany your brand name “digipub: Reimagine Your Magazine.” “digipub: Print is Dead. Long Live Print.” “digipub: Follow Your Readers Online.” “digipub: Bits are Cheaper Than Pages.” “digipub: Where Magazines Live Online.”
Value Proposition Tag-line Mission statement Elevator Pitch Positioning statement Metaphor
Mission statement: a statement of the purpose of your business. “Google’s mission is to organize the world’s information and make it universally accessible and useful.” “Facebook’s mission is to give people the power to share and make the world more open and connected.” “Solid Media’s mission is to connect curious readers to the very best written content on the web.”
Joseph Wilson @joeatmars jwilson@marsdd.com

More Related Content

Value Proposition - Entrepreneurship 101

  • 2. Agenda What is a value proposition? Examples Value Proposition Canvas Mission Statement Elevator Pitch Positioning Statement Metaphors Tag line
  • 4. How to (not) articulate value:
  • 5. A note on language: You are a translator volatile organic compounds cache-coherence DRM, LAMP monetize incentivize osteoblast service-dependent sublayer X
  • 6. A note on language: Show, don’t tell state of the art groundbreaking landmark sensational disruptive ideation amazing revolutionary awesome innovative breath-taking cutting edge X
  • 7. A value proposition is a statement of the unique benefits delivered by your offering to the target customer
  • 8. A value proposition is a hypothesis that your offering will bring certain values to a target customer. * * Like any hypothesis, it needs to be rigorously tested in the lab (read: with customers) before money is put into scaling.
  • 9. The value proposition statement should consist of these components: 1. What your product/service is 2. The target customer 3. The value you provide them Emergent property: why your product is unique
  • 10. Examples: Good: “Winners is a department store that offers fashion conscious consumers the latest brand names for up to 60 per cent off.” (Winners) Bad: “Winners is an off-price department store owned by TJX that employs international sourcing and buying power.” What is it? For whom? Values?
  • 11. Examples: Good: “Winners is a department store that offers fashion conscious consumers the latest brand names for up to 60 per cent off.” (Winners) Bad: “Winners is an off-price department store owned by TJX that employs international sourcing and buying power.” What is it? For whom? Values?
  • 12. Examples: Good: “A1 Industries has developed an economical and easy-to-use chemical additive that allows paint manufacturing companies to reduce the environmental impact of their products Bad: “A1 Industries has discovered a chemical isomer additive that allows for a reduction of VOC emissions.” What is it? For whom? Values?
  • 13. Examples: Good: “A1 Industries has developed an economical and easy-to-use chemical additive that allows paint manufacturing companies to reduce the environmental impact of their products Bad: “A1 Industries has discovered a chemical isomer additive that allows for a reduction of VOC emissions.” What is it? For whom? Values?
  • 14. Examples: Good: “Google is the world’s largest search engine that allows internet users to find relevant information quickly and easily.” Bad: “Google uses a patented page- ranking algorithm to make money through ad placement.” What is it? For whom? Values?
  • 15. Examples: Good: “Google is the world’s largest search engine that allows internet users to find relevant information quickly and easily.” Bad: “Google uses a patented page- ranking algorithm to make money through ad placement.” What is it? For whom? Values? Are Internet Users really Google’s customers?
  • 16. Examples: Good: “Google is the world’s largest search engine that automatically provides advertisers with potential customers tailored to the ad content, increasing click-through rates and conversion rates.” Bad: “Google uses a patented page- ranking algorithm to make money through ad placement.” What is it? For whom? Values?
  • 17. Saving/making money Saving time Lower risk Enabling function Convenience Quality Customizable Usability Social Inclusion Health Aesthetics Status Newness Environmental Self-Actualization Ethical Selling to Business Selling to Customer
  • 18. Value Prop Template: __company name_______ has created __product ___ for _____target audience________, that results in ___value 1_________, __value 2____, ____value 3__.
  • 29. Value Prop Template: For _____target audience________, __company name_______ has created __product name___ that results in ___value 1_________, __value 2____, ____value 3__.
  • 30. Value Proposition is Not: A tag-line A mission statement An elevator pitch A positioning statement A positioning metaphor
  • 34. Elevator pitch: A 60 second quick pitch that describes the business. Hook Problem Solution (value prop-ish) Unique Features Call to action
  • 35. The Hook: “I buy dead magazines…” “We make conferences not boring….” “We sell 15 minute vacations…” “What do you mean?” The Problem: “Paper based magazines are failing…” “Conferences are usually based on one-way lectures….” “People’s commute to work is stressful…”
  • 36. The solution: “We buy up print magazines that are failing and reinvent them on the web as digital publications. For traditional small magazine publishers my company Solid Media provides an online template called digipub which repurposes their print material for online consumption at lower cost and opens up their content to a new crop of advertisers.
  • 37. The solution: “We buy up print magazines that are failing and reinvent them on the web as digital publications. For traditional small magazine publishers my company Solid Media provides an online template called digipub which repurposes their print material for online consumption at lower cost and opens up their content to a new crop of advertisers. What is it? For whom? Values?
  • 38. The solution: “We buy up print magazines that are failing and reinvent them on the web as digital publications. For traditional small magazine publishers my company XYZ Media provides a platform called digipub which repurposes their print material for online consumption at lower cost and opens up their content to a new crop of advertisers. “Hmmm, good idea” Unique features: “We add the e-magazines metadata into our recommendation engine, kind of like Amazon, which brings in new readers.” Call-to-action: “We’re signing up beta customers now to play around with the platform and tell us what they think. Check it out” [hands out business card]
  • 40. Positioning statement: a value proposition plus a competitive anchor. For traditional small magazine publishers my company Solid Media provides a template called digipub which repurposes their print material for online consumption at lower cost and opens up their content to a new crop of advertisers. Unlike Press Publisher 4.0, digipub adds metadata to your content, connecting you with new readers and new advertisers.
  • 41. Positioning statement: a value proposition plus a competitive anchor. For traditional small magazine publishers my company Solid Media provides a template called digipub which repurposes their print material for online consumption at lower cost and opens up their content to a new crop of advertisers. Unlike Wordpress, digipub is for magazine publishers alone to repurpose their content and discover new readers online.
  • 43. Metaphor: a way to anchor your brand to something people already understand “digipub is like Shopify for magazines.” “digipub is to the magazine industry what Kobo is for books.” “digipub is like Wordpress for Magazines. “digipub combines the metadata from Amazon with the templates in Wordpress specifically for magazine publishers.”
  • 45. Tagline: a marketing line to accompany your brand name “digipub: Reimagine Your Magazine.” “digipub: Print is Dead. Long Live Print.” “digipub: Follow Your Readers Online.” “digipub: Bits are Cheaper Than Pages.” “digipub: Where Magazines Live Online.”
  • 47. Mission statement: a statement of the purpose of your business. “Google’s mission is to organize the world’s information and make it universally accessible and useful.” “Facebook’s mission is to give people the power to share and make the world more open and connected.” “Solid Media’s mission is to connect curious readers to the very best written content on the web.”

Editor's Notes

  1. - Introduce the two workbooks as the textbooks for the course; we’ll be selecting activities/tools to work through in groups;
  2. - p. 6 in the CVF workbook: Introduce definition of value proposition - A value proposition is NOT a technology – it is a solution to a problem
  3. - p. 6 in the CVF workbook: Introduce definition of value proposition - A value proposition is NOT a technology – it is a solution to a problem
  4. - p. 6 in the CVF workbook: Introduce definition of value proposition - A value proposition is NOT a technology – it is a solution to a problem
  5. - p. 6 in the CVF workbook: Introduce definition of value proposition - A value proposition is NOT a technology – it is a solution to a problem
  6. - Turn to p. 21 in the SMA workbook and look at the definition of a business model;
  7. - p. 6 in the CVF workbook: Introduce definition of value proposition - A value proposition is NOT a technology – it is a solution to a problem
  8. - p. 6 in the CVF workbook: Introduce definition of value proposition - A value proposition is NOT a technology – it is a solution to a problem
  9. - p. 6 in the CVF workbook: Introduce definition of value proposition - A value proposition is NOT a technology – it is a solution to a problem
  10. - p. 6 in the CVF workbook: Introduce definition of value proposition - A value proposition is NOT a technology – it is a solution to a problem
  11. - p. 6 in the CVF workbook: Introduce definition of value proposition - A value proposition is NOT a technology – it is a solution to a problem
  12. - p. 6 in the CVF workbook: Introduce definition of value proposition - A value proposition is NOT a technology – it is a solution to a problem
  13. - p. 6 in the CVF workbook: Introduce definition of value proposition - A value proposition is NOT a technology – it is a solution to a problem
  14. This is what the organization “wants” A value proposition is what the customer “wants”
  15. What functional jobs? Social? Emotional? Basic needs?
  16. What makes customer feel bad? Frustrated? Annoyed? Cost too much? Fear? Barriers?
  17. What would make life easier? What would make them happy? What do they dream about? What would make them look good at their job?
  18. What products or services do you have that could help? Rank them in order of importance to the customer
  19. Fix annoyances? Lower barriers? Make it easier? Lower cost?
  20. Make them happy? Make them look good? Fulfill dreams? Gove them more power, prestige?
  21. This is what the organization “wants” A value proposition is what the customer “wants”
  22. VP is the core of these external marketing uses.
  23. For early companies this is a thesis that needs to be tested through contacts with the market (aka marketing). Not paid
  24. This is what the organization “wants” A value proposition is what the customer “wants”
  25. This is what the organization “wants” A value proposition is what the customer “wants”
  26. This is what the organization “wants” A value proposition is what the customer “wants”
  27. This is what the organization “wants” A value proposition is what the customer “wants”
  28. This is what the organization “wants” A value proposition is what the customer “wants”
  29. AIG Las Vegas NYC Ford
  30. Cognitive trick to use the pipularity of the market leader to anchor your offering in the users brain.
  31. Cognitive trick to use the pipularity of the market leader to anchor your offering in the users brain.
  32. AIG Las Vegas NYC Ford
  33. This is what the organization “wants” A value proposition is what the customer “wants”
  34. AIG Las Vegas NYC Ford
  35. This is what the organization “wants” A value proposition is what the customer “wants”
  36. AIG Las Vegas NYC Ford
  37. This is what the organization “wants” A value proposition is what the customer “wants”
  38. - Introduce the two workbooks as the textbooks for the course; we’ll be selecting activities/tools to work through in groups;