Proposition development
Ideas, ideas, ideas. You are brimming with ideas but which one should you go with?
Rather than taking new ideas to market based upon hunches and untested assumptions why not identify profitable opportunities and translate them into successful propositions.
How?
Using the proposition pyramid start by getting under the skin of the customer. Don’t just look at your customer segmentation, bring it to life. Spend time with your customers and build up personas to model the proposition; why customers want it and when.
As the idea germinates into a customer driven proposition begin to focus upon the proposition pull, processes and lock. How will you ensure the proposition will attract the customer; what processes do you need to ensure are in place to support the proposition; and once the customer has bought into the proposition how do you keep them?
It costs far more to attract new customers than it does to maintain your existing customers yet few really develop the customer relationship well. The Future Builder element of the pyramid focuses upon how the proposition will help grow customer lifetime value and promote referrals and customer advocacy.
And at the top of the pyramid is the value the proposition will bring. How will it make money?
Bring your propositions to life, identify the fliers and discard the failures, without the risks and expenses of traditional proposition development.
