The Insider's Guide to Next-Generation BPM
By Suchitra Pritesh , 01/05/2010
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This 2010 technology differentiation is not enough. Obtaining in-depth knowledge of the target industry is critical and necessary for survival in this new year. Clients are now looking for technology vendors for industry expertise and guidance along with technology.
Since 2009 clients have changed their decision making course. One of the after effects of recession is that IT executives, VARs or other channel partners are no longer the only decision makers to buy any big or small technology piece. They are no longer authorized to sign the PO even for the budgeted items, but now every purchase decision will have to include higher-level executives and business managers. Business unit managers will now play a key role in the process, as that is where the solutions will be serviced. Writing the right value proposition that can touch business points of the target market is essential.
Although business unit managers live the industry, most of them are not aware of the root cause of everyday business disasters like customer loyalty loss, unheard awareness messages, high operational cost and many more until they occur repeatedly. Once the problem is identified, high budgets are reserved for technology -- this time clients want more than just technology but a business solution from the technology offered. A tecmarketer who can show the business value will get a bigger group of people in boardroom in his favor.
So, what is a right value proposition anyway?
A right value proposition is something which can cater to all stages of sales cycle. Making sure the value propositions are talking purely about the business benefit like competitive strength, staying ahead in introducing new products, cost savings etc. will be helpful rather the usual technology band wagon like other technology vendors. Below are the three stages how a value proposition can be categorized and should be written to win the customer.
1. The Open Gates Stage
2. The Listener Stage
3. The Deep Dive Stage
The first stage is 'The Open Gates Stage" being industry specific. The value proposition should explain high level industry issues and challenges which most of the players in a particular industry experience. Addressing these will earn goodwill as an industry expert; clients choose a well-informed vendor rather than somebody who will waste their time learning about the industry and/or their business. This will open gates to reach the right contacts. This sort of information is available on surveys, webinars, collaterals and others sources that customers participate in.
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