A value proposition details how the offer will help a beneficiary make progress.
I've defined this as the proposed value (whereas realised value is the amount of value co-created)
We can use a formula way to describe a value proposition:
- I (beneficiary)
- who (functional progress being sought [job to be done, hindrance to avoid, problem to solve])
- the (product/brand name) is a (product category)
- that (functional and non functional progress offered)
- unlike (primary competitor alternatives), (product/brand name) (primary differentiation statement).
We (overly) pressurise our innovation approaches by seeking new to the world innovations. Do we need to?
Miles and others argue that a specific type of service organisation - knowledge intensive based services (KIBS) - can be sources, facilitators or carriers of innovation
But it is not just KIBS. Don't task-limit your innovation approach to being a source of innovation. Expand it to have a role as facilitators and carriers.
And we can note that carrying innovation - such as QR codes across industries - is particularly powerful and increasingly demanded by customers
Having ideas is great; and capturing and turning them into innovations is a process that has generated many tools, advice and innovation consultants.
But to fix the innovation problem (94% of executives unhappy with innovation performance) we need to go further.
We need to make sure innovations are implementable in an organisation; and further that we are implementing innovations that are generating value for customers and ourselves.