In my last article, I introduced the concept of a value-based approach to strategic positioning that builds on the foundation of your product strategy. In the article, I introduce the three core components of value-based approach to strategic positioning.
In this video, I describe how to do this and illustrate it with examples.
Problem + Value + Differentiation
A product is a solution to a market problem, and to best position the product we need to start with the problem. Customers pay for the value they receive from a product, so our positioning needs to address the value they will receive from the product.
And our ideal target customer is one who values your differentiation, and we must help them understand our differentiation in our positioning.
A value-based approach to strategic positioning is built from Problems, Value, and Differentiation.
We will solve specific problems for a market full of personas.
Who will receive value, both tangible and intangible.
In unique and better ways for them than the alternatives.
Start with the Problems Themes worksheet.
Step 1: Brainstorm the problems your product could address.
You can do this live on a white board, or online using a tool like Miro. Have everyone participating write down their thoughts on the problems your product or release could solve on post-it notes.
Step 2: Affinity map these problems into themes.
Review all of the problems and use the Problem Themes boxes on the right to group them into themes.
Step 3: Finish the sentence "I wish I had..."
Name each problem theme. With that you are done defining your problem themes.
Here is an example using the Wix platform, specifically their sales and marketing capabilities.
Value Themes Worksheet
Step 4: Brainstorm the value the customer would receive by solving the problems.
Identify both tangible and intangible value. Tangible value are easily measured or seen, like increasing revenue, leads or efficacy, or decreasing costs, time , or churn
Intangible value are not easily measured. These could be social things like status or relationships, or emotional things like relief, peace of mind and certainty.
Step 5: Affinity map the value created into value themes.
This is the same process you follow with Problem Themes
Step 6: Name the themes by finishing the sentence "I value..."
Like Problem Themes, name the Value Themes.
Differentiation Themes Worksheet
Step 7: Brainstorm what makes your product different and better than the competitors.
Focus on your unique capabilities and features that differentiate you in ways your customers value.
Step 8: Affinity map those unique capabilities and features into Differentiation Themes.
Again, same process as Problem and Value Themes.
Step 9: Name the Differentiation Themes by finishing the sentence "I like that..."
Same process as before.
Step 10: Move the Problem Themes, the Value Themes, and the Differentiation Themes. Fill out the rest of the document.
If you're interested in learning more about engaging with us to do a workshop with your team, go to our website at https://www.productgrowthleaders.com/workshops