We have found many reasons why businesses fail to develop and clearly articulate Value Propositions, and elsewhere, we have identified why these are essential to business growth. But what are the top 5 barriers we see?
- Lack of awareness. Many leaders fail to understand the transformative effect on sales growth, employee alignment, focus and simplicity that value propositions can bring.
- Lack of know-how. It takes a carefully curated process to bring together a cross-functional group with deep customer knowledge to make the clarity of your offer emerge.
- Lack of customer centricity. Many value statements claim this, but an organisation needs to see the world as it really is – through their customer’s perception of value (and certainly not just through a Net Promotor Score !).
- Competing priorities. Most strategic processes create silo-working or internal competition for resources. A VP approach requires everyone to focus on what enhances customer value.
- Short-term focus. Many executives get ensnared in the battle to deliver this year’s number. In this context, VP development can seem a task that can be delayed. We can point to almost immediate sales benefits as well as putting the business on a better long-term footing by wrestling VPs to the ground.