How FM companies can build a Unique Value Proposition Canvas

Is your company planning to ship a new feature for an existing product? Or has a new product that’s just about to hit the market??

In both of the above cases, you can determine whether it will address any problems or bring about the benefits you intended using a Value Proposition Canvas.

Any company that aspires to stamp its name on the market needs a value proposition canvas unlike any other to make its product stand apart from the crowd.?

A Value Proposition Canvas (VPC) serves as a visual roadmap and guarantees a focused strategy when creating a high-demand product. It helps you understand your customers and their concerns. Plus, if your VPC aligns with your company's culture and core values, it makes it all the more unique to you.?

For the scope of this article, I'll be talking about companies that concern themselves with Facilities Management, Asset Operations, and Maintenance.

Let’s begin with the fact that cost reduction constraints have become widespread and that everyone is talking about digital transformation. Not just tier-I FM companies but companies across the board are planning for their digital transformation strategy. Despite some challenges being of a very high magnitude, others diverse, and some nearly identical for everyone, one thing’s for sure.

Everyone has acknowledged these challenges.

But most companies, whether intentionally or unintentionally, tend to look back and imitate what others have done in order to address these challenges. As a result, they ensure that their value proposition canvas for their target customers closely resembles that of their competition or peer group.

In the end, pricing will be the one and only aspect that sets them apart. To ensure that pricing does not continue to be the only distinction, you must start with a strategy and make a difference.?However, if all you do is replicate the strategies that everyone else uses, you will miss the opportunity to stand out because you won't take the risk that you should at a different moment.

You might frequently find yourself in the same predicament—even though you've made improvements, these are essentially the same as those done by everyone else in the market. So you're back to square one, where pricing will once again be the main point of differentiation. You have to try to think of alternative ways to approach things.

How can your FM company stand out from the crowd?

Here are a few suggestions

1. You should be planning for the future, keeping in mind that there are going to be new technologies on the market. You should not be looking at strategies that are old and outdated.
2. You have to take risks. The way people continue to see technologies that are still in the process of being verified, but at least are already printed. If it has a predictable component, then those technologies can be applied to a variety of use cases.
3. Since customization affects how you perform your services in comparison to how everyone else does, flexibility and lots of agility will also be required. Nevertheless, this is something that must be done.

In conclusion, you need to think about implementing technologies and collaborating with others. That effort will undoubtedly make you stand out from competitors, whether they are established companies or start-ups, and should lead you to a place where pricing is a topic of conversation but not the only one.

Identifying the right technology and building a tech stack that is fundamentally unique to you and not shared by your peer group or competitors is one of the best ways to accomplish that.

At?Xempla - Decision Support System for Enterprise Asset Management , we take value addition very seriously and our core values have helped us build a product that's now helping companies create a massive difference across FM, Asset Operations, and Maintenance. Ping me on?LinkedIn ?to start the conversation (transformation)!??

That's it for this article. Stay tuned for more!

But before you go, I would love to know how you are positioning yourself apart from the rest and what strategies you have applied to build your FM company's unique value proposition canvas. Let me know in the comments!

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