Your Value Proposition (VP) is the offering that you provide to consumers and can be divided into 3 broad categories:
Service offerings
Financial, professional, healthcare and wellness, hospitality, transport, waste management, protection, security...
Physical products
Any product you buy at a retail store or a meal that you eat at a restaurant
Intangible products
Bank account, insurance product, a cell phone contract, computer software, training program, a holiday package...
The importance of a great Value Proposition
Designing a value proposition that will attract the right customers are the most important strategic objective for your business
“The purpose of business is to create and keep a customer.” -Peter Drucker
Addresses a specific
consumer need
Is different than what
competitors offer
Priced so that customers and your business get value
A successful Value Proposition will answer the following questions:
Which features are the most important to customers?
Which features are essential, and which are just “nice to have”?
Which features will differentiate me from my competitors?
How much will customers be willing to pay for individual or bundled features?
Which customer groups (segments) will be attracted to my offering?
What is perfect “bundle of features” that will attract the most customers?
Our process: Conjoint analysis
Conjoint analysis, an advanced AI-driven trade-off methodology, will allow you to design the ideal value proposition.
How does it work?
Survey
Customers compare various value propositions and choose the ones they will buy
Predict
Replicates a real-world buying environment to predict customers’ buying behavior
Simulate
Use advanced AI to simulate various Value Proposition design outcomes
Optimize
Design the optimal Value Proposition package that fulfils customer's needs, differentiates from competitors, and grows your financial return
How you can use the insights
Customer Needs
Optimal Pricing
Drives Innovation
