The right questions can lead to building new company value
Ask yourself - is our company Value Proposition and Unique Selling Proposition still relevant?
Let’s start with definitions –
Value Proposition – this is the value that your customer derives from working with your business. This identifies the value your product or service provides to them.
Unique Selling Proposition – this is how you deliver your Value Proposition in a way that differentiates you from the competitive alternatives.
This question of the month is always relevant but certainly now based on where we are with COVID-19 impacting on our markets. It’s also very relevant because new technologies are evolving and could be changing what your customers expect and desire from you.
In thinking about this question, talk with your team about how your customer’s needs and expectations and even behaviors might be changing these days. And are they changing in a way that is either risk or opportunity as it relates to your Value Proposition and/or Unique Selling Proposition? If your customer (even your customer’s customer) has changing needs and desires, you need to ensure that your messaging to them is remaining relevant and effective versus your competition.
Add this Bank Your Moment-Question of the Month to your next sit-down meeting with key members of your team. You’ll find yourself having a dialog that could identify steps to take to protect and build the value, or worth, of your business.
