Some organizations articulate their value proposition only once – most often in the start-up phases. While the statement developed certainly communicates the underlying value an organization delivers to its customers and stakeholders, the reality is that, over time, things change inside and outside the organization.
The problem is there is usually no rethinking of the value proposition.
As a result, management becomes confused and doesn’t understand why the organization is losing traction with customers or funders and/or why their offerings don't resonant as deeply as they once did.
When this occurs, a common conclusion is that the organization simply needs to work harder to achieve results. Well, maybe. But many times it's more of an indicator that an organization needs to revisit and adjust its value proposition to reflect changes and new information.
YOUR ACTION STEPS
Be willing to rethink your value proposition. Nothing is static in today’s world so it makes sense that customers’ needs, your offering and the ways you connect will also need to shift and evolve. Facilitating a value proposition exercise with your leadership team will help you reconsider the value your organization delivers. You will gain clarity on how and where you communicate that value in relation to your target audiences’ current needs and behaviors. Doing this also helps identify new customer groups and opportunities for reaching them.
