Just got off the ‘phone from a client called Andrew, who runs a small (but ambitious) life sciences consultancy helping strategic functions in large pharma co’s add more value to the business. It was a ‘it’s-been-a-while-how-are-you-just-calling-to-check-in’ call. In the summer I worked with Andrew and his team on their ‘value proposition’ (VP), their offer of value to their market.
Despite some heavyweight experience and a track record in the sector, their ‘overview’ slide deck to attract potential clients hadn’t been getting traction. They knew they needed a more compelling proposition to scale the business.
In a half-day workshop I challenged every word of the slide deck and we stripped their offer back to the basics:
- Who’s your ideal client and why?
- What’s their major headache/challenge/problem?
- What would the benefits be to them of removing that headache?
- What qualifies you to be able to help them?
- What’s unique/special about you/your approach?
As a result of their new-found clarity on what they offer the market, Andrew’s refined their ‘parent’ VP to produce a family of ‘child’ VPs for each specific business function in their clients’ organisations, reflecting the varying needs of each function. It’s also unlocked for him a whole new revenue stream that could be his path to hypergrowth.
He and his team are now super-clear about the value they offer to whom, how and why. Clarity brings higher levels of certainty, market engagement and, ultimately, business.
Confidence is another by-product of clarity. A joy in the VP workshop was seeing them uncover confidence — to approach new markets and give their clients confidence in their analysis-led decisions — as a core value and potential differentiator from the competition. They’re now building on this in their branding and marketing.
And all in one day’s work, with a client who had the courage to commit to nailing their value proposition.
I turn 60 next year. Surveying my 38 years’ experience in B2B comms in one form or another, in my view the single biggest challenge facing UK SMEs — the engine room of the economy — is expressing their offer of value to their market in a clear, concise and compelling way. Think of it as sequencing your business DNA.
Contact me if you’d like to know more.