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How do you create a value proposition for a global market?

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A value proposition is a statement that summarizes the benefits and advantages of your product or service for your target customers. It explains why they should choose you over your competitors and how you solve their problems or satisfy their needs. A value proposition is essential for any business, but especially for those that operate in a global market, where they face diverse and complex challenges. In this article, you will learn how to create a value proposition for a global market, using a four-step process and some practical tools.

本文章的要点总结

Understand customer needs:

Dive into research to grasp what your global customers desire and face. Use surveys or interviews to tailor your value proposition to their specific expectations and pain points, ensuring relevance across diverse markets.
Embrace cultural nuances:

Before entering new markets, study cultural differences that affect how your value proposition is perceived. Adapt your messaging to align with local customs and behaviors to resonate with regional audiences authentically.

本摘要由 AI 和以下专家提供支持

Pouriya Jalali

Business Development | Product…
Girolamo Ippolito

Innovation, Marketing & Sales Expert...…

1 Step 1: Research your global customers

Before you can craft a compelling value proposition, you need to understand who your global customers are, what they want, what they struggle with, and how they perceive your offer. You can use various methods to research your global customers, such as surveys, interviews, focus groups, online reviews, social media, or web analytics. The goal is to collect qualitative and quantitative data that will help you segment your customers into different groups based on their characteristics, behaviors, preferences, and motivations. You can use tools like personas, empathy maps, or customer journey maps to organize and visualize your customer insights.

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Prateek Bagri

Promoter @ K.S Foods | 2x Founder | Restaurateur | Indian Sweets Manufacturing & Distribution | Growing F&B Brands to ?50L MRR
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Though it may necessitate some preliminary investigation, you can kickstart your exploration of this facet of the value proposition by engaging in conversations with various colleagues within your organization. Reach out to customer service representatives, marketing experts, and sales professionals, all of whom can provide valuable insights. Consider a scenario where your company offers tax software through a subscription model, complete with automated templates. Your ideal customer is seeking an economical and user-friendly method to access intricate tax documents for their business needs. In this instance, your business's offerings may well represent the precise solution they have been searching for.

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2 Step 2: Define your value drivers

Once you have a clear picture of your global customers, you need to identify what value drivers make your product or service attractive and relevant for them. Value drivers are the specific benefits and features that your offer provides to your customers, such as quality, convenience, affordability, innovation, or social impact. You can use tools like the value proposition canvas or the lean canvas to map out your value drivers and how they match your customers' needs and wants. You should also consider how your value drivers differ from or surpass those of your competitors, and what unique selling points or competitive advantages you have.

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Girolamo Ippolito

Innovation, Marketing & Sales Expert... I Make Food Memorable
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When entering a new geography, the problem dealing with a new foreign market is: do they percieve my value proposition as relavant as attractive? It depends on many things. The most important: incumbent offering, habits and culture. The most effective thing to do first is to validate your Value deivers and hierarchies or simply adapt. Do your research before validating

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3 Step 3: Test and validate your assumptions

After you have defined your value drivers, you need to test and validate them with your global customers. You can use various methods to test and validate your assumptions, such as experiments, prototypes, landing pages, or minimum viable products. The goal is to gather feedback and evidence that will help you verify or falsify your hypotheses about your customers' problems, solutions, and willingness to pay. You should also measure and track your key performance indicators, such as conversion rates, retention rates, customer satisfaction, or net promoter score.

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Michael McClintock, P.Eng.

Founder & Principal @ McClintock Group | Enhancing Mineral Projects, Advocating for Shareholders
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Collect feedback to find out if your solutions are resonating across cultures and demographics. It is important to adjust based on performance metrics such as conversion rates and customer satisfaction. What works locally might need tweaking for a worldwide audience.

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4 Step 4: Communicate your value proposition

Finally, you need to communicate your value proposition to your global customers in a clear, concise, and compelling way. You can use various formats and channels to communicate your value proposition, such as headlines, slogans, taglines, logos, images, videos, or stories. The goal is to capture your customers' attention, interest, and desire, and persuade them to take action. You should also tailor your value proposition to different customer segments, markets, cultures, and languages, and avoid using jargon, clichés, or vague statements.

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Pouriya Jalali

Business Development | Product Management | Lean Startup Consulting
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To effectively communicate your value proposition to global customers: 1. **Clarity**: Be concise and clear. Avoid jargon. 2. **Relatability**: Use universal themes and stories that resonate globally. 3. **Visual Aids**: Utilize infographics, videos, and imagery that transcend language barriers. 4. **Cultural Sensitivity**: Research cultural nuances to avoid missteps. What works in one region may not in another. 5. **Feedback Loops**: Engage with customers for feedback and adjust accordingly. 6. **Solutions-Focused**: Highlight how your product/service solves their specific needs or challenges. Remember, your value proposition is not just what you do, but how it benefits the customer globally.

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Girolamo Ippolito

Innovation, Marketing & Sales Expert... I Make Food Memorable
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Act local means to adapt your marketing strategy, communication and actions to the market you operate in. Habits, competition, languages, culture needs to be flexible to be very effective. Your value priposition and core messages remain the same. What changes is the way you communicate it.

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5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Akshat Kharbanda

Real career tips & stories | IO Business Graduate at Novo Nordisk | INSEAD | Strategy
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A one-size-fits-all approach rarely achieves the desired results. Local adaptations are necessary to resonate with diverse global markets. For example, McDonald's value proposition is convenience and consistency. This holds true globally. However, the definition of consistency is different in each region. For example, in India, McDonald's offers a wide range of vegetarian options. Not so much in USA. Global yet localised value proposition.

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How do you create a value proposition for a global market?

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2

3

4

5

1 Step 1: Research your global customers

2 Step 2: Define your value drivers

3 Step 3: Test and validate your assumptions

4 Step 4: Communicate your value proposition

5 Here’s what else to consider

Business Strategy

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How do you create a value proposition for a global market?

1

2

3

4

5

1 Step 1: Research your global customers

2 Step 2: Define your value drivers

3 Step 3: Test and validate your assumptions

4 Step 4: Communicate your value proposition

5 Here’s what else to consider

Business Strategy

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