Your goal is to stimulate the mind of the prospect long enough to grab their attention, and to make them take your product seriously. The how, the, elevator Pitch is the hook, the intrigue, and the door opener. It should answer why it matters, in a simplified way. And it should leave the listener with a sense of intrigue and wanting to know more. It is best delivered face to face, and should take 10 seconds to blurt out in one single, cohesive sentence. Some examples: we help marketers measure their return on investment. Were a market place for funding your ideas. We help consumers find the best deals according to their interests.
Value, propositions That Work
Yet, i see many startups not being clear enough with their messaging, in part because they dont approach it from the point of view of how it all fits together, and persuasive often for not applying the rigors of simplicity. Just like every new product feature relates to another, every messaging component needs to take it further where the other one left off, from the simple hook, to the substance, to the sticky part. This is how our brains logic works when it tries to comprehend something that is new. And its done that way, the trickle down effect is harmonious instead of messy. Put Some Order in your Messaging! There is a hierarchy for the various messaging components, and the best analogy i could find is to compare it to the structure of a rocket. A simplified list of components that make-up a rocket include 1) the nose, 2) the guidance apparatus, 3) the propulsion system, 4) the fuel reserve, and 5) the fins. The equivalent of these components are 1) the elevator pitch, 2) the market positioning, 3) the value proposition, 4) the product messaging, and 5) the supporting testimonials. These are interrelated, and most importantly they should not be overlapping. They should be additive and synergistic.
Deliverables: In addition to crafting the Brand Specifications document, Engagepoint also managed weekly coordination calls during the planning and creation phase of the campaign. To support communications, the team coordinated activities through a master project plan, and, developed campaign content using shared collaboration tools. The pr manager participated in multiple events to demonstrate the camera and meet with the press. The social Media manager recruited online influencers reviews to help promote the kickstarter campaign and maintained a drumbeat of outreach messages, all monitored through a series of Social Media management tools. The thin edge of the wedge is a popular analogy in startup development to explain how you first need to hook your users with a sharp feature thats easy to try. If you dont, customer acquisition becomes a lot harder, if not impossible. The same metaphor applies for your communications efforts when youre trying to explain what your company does. The right words matter a lot.
Outcome: by july 4th fireworks exploded when the paper giroptic 360cam Kickstarter campaign ended in a resounding success. The campaign achieved.4 million in funding, almost ten times the declared goal of 150,000! Individual funders placed requests for well over a thousand more than the hoped for 2,500 pre-ordered cameras. Richard Ollier, co-founder of giroptic stated, "While i had a strong gut feeling about how to achieve a great campaign, it was the Engagepoint professionals who contributed the marketing skill and gave me the confidence to succeed. The marketing knowledge was exactly what we needed to ensure that we could speak to the right audience and aggressively promote the campaign. Because of the level of experience on the team, reviews we could execute with great efficiency and effectiveness. The result exceeded even my highest expectations.".
Early in 2014, the company's ceo asked Engagepoint to help with launching a crowdfunding campaign. The campaign's objective was to validate global market appeal by generating pre-orders for its new consumer camera. The engineers desired support from marketing professionals with Silicon Valley know-how to achieve their objective. Process: by first building an initial Brand Specifications document, Engagepoint consultants helped giroptic to clarify its company profile, product's competitive strengths, the product's target customers, partners and influencers. The document also laid the groundwork for fundamental selling points, product positioning, and brand image. Together with pr and Social Media experts they clarified the campaign concept and crafted the content for a kickstarter campaign. Engagepoint also developed content for a video script, the perks and Packages, product features descriptions, and web site upgrades. Joining fellow teammates, Engagepoint executed related pr and Social Media activities. As the campaign launched and progressed to completion, Engagepoint monitored and advised along the way.
How do you develop a unique
The bottom line dear child has point many names; elevator speeches, high-concept pitches, value positioning, unique selling proposition, positioning statement etc. . The value proposition is not only about telling people about your product. It's also an important technique for describing your Minimum viable Product and testing what product or features to build. Whether you're battling investors in the elevator, optimizing conversion rates on your website, or boosting pr, crafting a clear, compelling value proposition is not easy. It takes trial and error. But the take-away is worth it as you will start getting meetings and converting more customers. .
What is your value proposition example? What template do you prefer? Update : This combinational post has been repurposed and used in programmes at Harvard Business School, mit, among others. . Here's 3 More Proven Templates For Writing Value propositions That Work. Situation: giroptic, founded in 2008 in Lille, france, is a private electronic r d and manufacturing company that develops 360 optical systems and cameras.
For this Eric suggests the following format for positioning. Template superlative why choose this product. Label what is this product. Qualifiers who should choose this product. Sample(s) The easiest operating system for netbook pc's.
The most secure payment gateway for mobile e-commerce. Bonus: The vad approach In a previous blog post on value propositions I set out to learn from guy kawasaki. On his blog I found that guy takes a approach in describing the startups that he's working with. Template verb; application; differentiator Sample(s) Share powerPoint and keynote slides including audio (Slideshare). Create and write blogs via email (Posterous). Make voip calls easily and cheaply (jajah).
Plan to Start
Template highlight the enormity of the problem you are tackling. Tell the audience up front what your company sells. Distill the differentiation down to one, easy-to-comprehend sentence. Establish credibility by sharing the pedigree of the entrepreneurs, customers, or the investors. Sample(s) One person dies of melanoma every 62 minutes. We offer a dermatoscope app for iPhone that enables people essay to easily diagnose their skin, leveraging patented pattern recognition technology trusted by the world health Organization. 7 Eric Sink's Value positioning Eric Sink writes that marketing is somewhat like an iceberg - the part sticking out of the water is highly visible.
Problem: what problem you're solving for the customer). Solution: _ (what is your solution for the problem). Customer: I believe my best customers are small and medium-sized business (SMB) markets. Problem: Who cannot easily measure campaign roi because existing solutions are too expensive, complicated room to deploy, display a dizzying array of non-actionable charts. Solution: Low cost, easy to deploy analytics system designed for non-technical marketers who need actionable metrics. 5 dave mcClure's Elevator Ride In his How to pitch a vc presentation dave mcClure presents a 3-step check list for creating positioning statements. Template Short, simple, memorable; what, how, why. 3 keywords or phrases kiss (no expert jargon) Sample(s) "m is the free, easy way to manage your money online." 6 david Cowan's Pitchcraft Although a more elaborative one david Cowan shares some useful guidelines in Practicing the Art of Pitchcraft. I've put together a summary.
following format for creating a value proposition statement that other people understand. We help X do y doing. Sample(s we help non-technical marketers discover return on investment in social media by turning engagement metrics into revenue metrics. 4 Vlaskovits cooper's cps, in their. Cheat guide to customer development, cooper and Vlaskovits use what they call a customer-Problem-Solution presentation. Template, customer: _ (who your customer is).
In addition to the first part below, moore also introduces a second statement focused on competitive positioning. Template, for _ (target customer) who word _ (statement of the need or opportunity) our (product/service name) is _ (product category) that (statement of benefit). Sample(s for non-technical marketers who struggle to find return on investment in social media our product is a web-based analytics software that translates engagement metrics into actionable revenue metrics. 2 Venture hacks' high-Concept Pitch,. Made to Stick, dan and Chip heath point to how high-concept pitches such as 'jaws on a spaceship' (. Alien ) and 'die hard on a bus' (. Speed ) convince movie executives to invest vast sums of money in a project on the basis of almost no information. In, pitching Hacks, nivi and navel from Venture hacks share examples of this technique applied to startups. Template, proven industry example for/of new domain.
Your, value statement : - small business
You already know that getting your for value proposition right is critical to your business model. . you can have the best features, the most perfectly executed presentation, the most stunning price, but no one will ever know of it if they dont get past your high-level value proposition. But how do you craft such a pitch? Continuously looking to perfect your value proposition you'd consult lengthy articles only to find that there's a jungle of advise out there. . What you need is applicable examples from entrepreneurs and investors who have successfully given and taken thousands of pitches, right? So i've put together 7 proven templates that are designed to help you create a clear, compelling value proposition in minutes. 1 geoff moore's Value positioning Statement. Probably the most popularized - in his seminal book crossing the Chasm - geoff moore suggests a specific template for outlining your value positioning.