Vantage Blog

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10
Oct
2014

Complimentary Webinar - Tips & tools to help get traction with execution of strategy

One of the biggest challenges most people in business face is getting real traction or progress with implementing their strategies and plans.

In this free 30 minute interactive webinar on Tuesday October 21st at 5pm (AEDT), we will explore

  • approaches to setting up your strategy and plans for effective execution
  • simple tools and tips to help keep you accountable
  • how to improve the likelihood of achieving success

You will also receive a complimentary workbook to help you get traction in your business.

Click here to reserve your spot.

Please feel free to pass on this invite to your team, colleagues or friends - it is a free event.

Best wishes,
Vantage Strategy & Marketing

One of the biggest challenges most people in business face is getting real traction or progress with implementing their strategies and plans.

In this free 30 minute interactive webinar on Tuesday October 21st at 5pm (AEDT), we will explore

 ..

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28
Sep
2014

Vantage September 2014 Newsletter Out Now

To paraphrase a former prime minister it quite often seems that every parrot in the pet shop is squawking about value propositions! But what is a Value Proposition, and how do you best deliver real value to your customers? In this month’s post we make clear what a value proposition really is, how you can define and refine it, and also provide some simple tools and examples to do just that. 

You can also watch our recent webinar on value propositions by clicking here.


Also in this edition:
We hope you find something of interest. 

Please feel free to contact us to discuss how any of these issues may impact your business.

Best wishes,
Vantage Strategy & Marketing

To paraphrase a former prime minister it quite often seems that every parrot in the pet shop is squawking about value propositions! But what is a Value Proposition, and how do you best deliver real value to your customers? In this month’s post we make clear what a value proposition really is, how you can define and refine it, and also provide some simple tools and examples to do just that. 

 ..

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25
Jul
2014

What Value is There in a Value Proposition?

Lots if you get it right. Unfortunately many don't! A lot of value propositions contain little of the value they aim to deliver.

Why? Because they are created from the inside out. That is they are all about what businesses think their customers want, rather than what their customers actually need. They focus on what you want to sell, rather than starting with the customers’ problems or needs that you are uniquely able to address.



So what exactly is a value proposition? It is the sum of what you deliver (the attributes of your offer), how you are perceived (your image) and the relationship you have been able to develop. It's how it all comes together in a coherent and consistent way.

Put simply, it is how you deliver value to your customers.

I use a value proposition wheel to try and tease out all the elements. Attempting to be clear on these factors goes a long way towards having a coherent and compelling value proposition.















Take Boost Juice as an example. They have a crystal clear view of their value proposition and, if you were to try and deconstruct it, it would look something like this.















The key is making it clear and concise. But also easy to understand and be applied across the organisation.

Critically, however, it needs to be grounded in your competitive advantage – what makes you different. For Boost it is around the “Boost Experience” and the essence that runs through everything they do...“Love Life”.

What does your value proposition wheel look like? Have a go at filling it in and seeing where there are gaps or inconsistencies.

In developing or refining your value proposition you need to be really clear on what problems you are solving or needs you are meeting. This is where the real value to your customers should emerge.

A simple exercise to do that is the product surround model.
















In every product or service there is a core product, the substance. As a rule of thumb the core is normally about 80% of the cost but provides only 20% of the impact.

It is the product surround, usually 20% of the cost, which contributes up to 80% of the customer impact.

A great example of a business that reinvented not only its offering, but the category, is a BRW Fast 100 winner Jetts.

















The approach they took was to think through what the customer problems and issues were with how traditional gyms provided services to the market.

Customer Problem: Jetts Offer:
“Don’t like being tied in for years” No Contracts
“Too expensive“ Weekly Fees
“Too crowded “ No Classes
“Not open when I want it” Open 24/7

So in reviewing your value proposition think about the following questions:
• Can you define what is core and what is surround for each of your current offerings?
• Can you list the key problems and needs for your target market?
• What could you build, refine or deliver better via your value proposition to solve those problems and needs?

A simple exercise that may well help you define and deliver real value in your value proposition. 

Click here to watch our free 30 minute webinar on Value Propositions.


by James Atkins, Vantage Strategy & Marketing.
This article is linked to James' Google+ profile



Lots if you get it right. Unfortunately many don't! A lot of value propositions contain little of the value they aim to deliver.

Why? Because they are created from the inside out. That is they are all about what businesses think their customers want, rather than what their customers actually need. They focus on what you want to sell, rather than starting with the customers’ problems or needs that you are uniquely able to address. ..

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01
Jul
2014

REGISTER NOW - Finding Value in your Value Proposition Webinar - Tuesday 8 July

What value is there in having a value proposition?

This free 30 minute workshop, on Tuesday July 8 at 5pm (AEST), explores how to deliver and unlock real value for your customers.

Three easy to apply techniques will be explored during the webinar, and you will receive a complimentary workbook to help you apply them in your business.

Click here to reserve your spot.

Please feel free to pass on this invite to your team, colleagues or friends - it is a free event.

This blog post is linked to James' Google+ profile

What value is there in having a value proposition?

This free 30 minute workshop, on Tuesday July 8 at 5pm (AEST), explores how to deliver and unlock real value for your customers.

Three easy to apply techniques will be explored during the webinar, and you will receive a complimentary workbook to help you apply them in your business.

Click here to reserve your spot.

 ..

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04
Jun
2014

The Yin and Yang of Business

“Business has only two functions – marketing and innovation" Peter Drucker…really – why’s that?

Peter Drucker made this statement back in 1973 but it is just as relevant today.

Marketing and innovation are the two drivers of business that deliver customers, today and into the future. And of course without customers you have no business. Everything else flows from that simple starting point.


Customers must be front and centre

Production processes, sales and human resources are without doubt critical elements of any business model, but they are not the starting point. Understanding who your customer is and how you will satisfy them is the key. From there you are able to determine the appropriate production model or the type of resources that you will need in order to deliver. All aspects of your business model should be structured in such a way as to ensure that you are able to deliver value to your customer for an appropriate return.

Marketing – delivering value to your target market

The marketing function should define how you create, communicate and deliver this value to your target market. It aims to answer key questions around who are your customers, what are their needs and what product/service can you provide to satisfy those needs. How you will price. How you will deliver it to them. How you connect and engage are all critical elements.

Marketing really is everything you do to provide value to your customers today. It is how you provide and reinforce your point of difference and value proposition at each and every touch point. So you need to ask yourself - are you clear on your value proposition? Does it provide value? Does it engage and connect with customers?

Innovation – a practice of renewal

The innovation function, on the other hand, works to keep your business relevant into the future. We live in a dynamic environment where the rate of change is ever increasing. Changes in technology, increased levels of competition, concerns around the environment, and changes in how we communicate all have implications for the products and services that our customers need.

Innovation, at its core, is a practice of renewal. Changes - be it to a business process, to products themselves, to how we create and communicate – are all aimed at satisfying and exceeding customers’ needs and desires going forward?

Don’t let innovation be a blocker


Innovation has become an overworked and overused term. I attended a seminar recently where Gary Bertwistle , a thought leader in innovation and creativity, talked about innovation as a concept that can quite often become a blocker. Too many people speak the words but don’t know what to do next – in many instances confusing invention with innovation. His suggestion was to stop talking about innovation and focus on helping people and teams to “think differently” – the outcome will be creativity and new ideas.

Asking people, “what if” and “what else”, “imagine if” is a great way to take people out of the everyday and think beyond the constraints. Try it during your next strategy planning session – just don’t call it an innovation brainstorm!

Finding time to just think and not filling the diary is another key to unlocking creativity and innovation. Organisations such as Disney and Google mandate that their staff spend a certain number of hours each month working in a different department just observing. New ideas, suggestions, new ways of doing things can be the result of having people with a different perspective look at your operations.

Make innovation possible

Make sure you create the environment in which your staff can innovate or think differently. Too often we send mixed messages. We talk about creating an innovative culture but we are afraid about moving away from the tried and tested, and what we think our customers want rather than need. The mantra is to do things differently but we punish the risk takers for failure. Striking the right balance is critical in creating an environment where new ideas and practices can emerge and be trialed and tested.

Ensuring that marketing and innovation can occupy the central part of your business model, and the way you work, is critical if you want to stay ahead of the competition and attract and retain the right types of customers – today and into the future.


by James Atkins, Vantage Strategy & Marketing.

This article is linked to James' Google+ profile

“Business has only two functions – marketing and innovation" Peter Drucker…really – why’s that?

Peter Drucker made this statement back in 1973 but it is just as relevant today.

Marketing and innovation are the two drivers of business that deliver customers, today and into the future. And of course without customers you have no business. Everything else flows from that simple starting point. ..


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