How Do Executive Coaches Help So Many Pittsburgh & New York Firms Improve Their Value Proposition?
This is a question that CEOs, Sales and Marketing leaders need to be mindful of and challenging. In markets, like New York and Pittsburgh, where growth is flat to slightly increasing, a well-articulated value proposition is needed.
According to top management consulting firms, it’s worthwhile to revisit the resonation of your value regularly if you’re in a market like Pittsburgh or New York. Your customers are likely need strong justification and clear delineation of your offerings favorable points of difference vs. other alternatives, including doing nothing.
As one of the best management consulting firms in Pittsburgh and New York, we at Northpoint often challenge the sales channels of our clients on not being effective in meeting goals for any number of reasons. While this could be true our assumption is that more sales leaders have management processes to deal with performance, BUT they need help.
We suggest all New York and Pittsburgh businesses Value Prop 360 (VPT360) Test. This would stress tests the resonation of your favorable points of difference. It makes sense to do this at least once per year and/or when the market and economy have corrections.
Why Management Consulting Firms Recommend Pittsburgh & New York Executives Consider VPT360
During this VPT360 the attributes are tested internally and externally to determine key points of resonation with various players in the decision making process. It should be pointed that this process need not be that time consuming or costly to complete. The process should include all the possible attributes the offering, its terms and conditions.
Another benefit of the process besides more effective sales hit rate percentages, are in price achievement. You value clearly differentiates vs. alternatives and resonates, price sensitivity can diminish. The VPT360 process often enables your company functions of sales, marketing, technology and finance to effectively align, which is why it’s recommended by management consulting firms across the US.
This process can be applied by start-ups, small companies and large corporations alike in Pittsburgh, New York, or across the nation. In many cases larger clients leaderships teams, are further from the customer and market facts, to be able to recognize the need to do several of these tests. For smaller businesses in Pittsburgh and New York, while they are closer to the customer, their brand and channel impacts are not as strong.
Below is a rough diagram of a form or process that can be used to complete the process. Much of this application process (VPT360) is NPs but research and work of value proposition and science of it are attributable to Dr. James Anderson of Kellogg School of Business, Northwestern University.
Again the reason executive coaches in Pittsburgh and management consulting firms in New York are driving this aspect, is that it can be done now, is impactful and something we at Northpoint Business Advisors have done over 200 times. There is nothing more important for a company to understand their set of value propositions. Plain and simple clients buy based on offerings meeting their needs. The VPT360 is at the core of driving improved results based on resonating value for customers (if we go in-depth, the VP does vary back on the market, customer and specific customer contact).
If you would like to learn more about how management consulting firms are using VPT360 to optimize value propositions, or would like a complementary business strategy session regarding your own value prop, contact us today!