Value Proposition Development
Many payments products are difficult to communicate to potential buyers. Companies, who are in a hurry to bring their products to market, often cut corners when it comes to positioning and marketing of the product. The result is customer confusion, demotivated salespeople and poor sales - only the competition are happy.
We have worked with some of the giants in the marketplace to define and communicate the features and benefits of their most complex payment products, with excellent results.
We use techniques from the high-tech industry to break down the product into logical, simple components. We then build a “messaging framework” to address the needs of each particular audience. The end result is a value proposition and set of marketing communications that is relevant, credible, compelling, and reusable time after time.
Here are two examples of our work:
For an International Card Scheme:
We redefined the value proposition for a complex product, aimed at international retailers and acquirers, which had not been gaining sufficient traction in the marketplace. We produced a new messaging framework defining the features and benefits of the product from three perspectives: retailer, acquirer and scheme. After testing with retailers and acquirers, and agreement from stakeholders, we applied the new approach to develop reusable marketing and sales collateral. We also developed a unique “business case tool” to model the benefits of the product for specific clients, which was then rolled out to the sales force.
For a Specialty Payment Processor:
We started working with this client after they had just come second in two large bids to provide outsourced processing services. Together, we analysed the loss review findings and other research to understand what needed to change. As a result, we restructured the value proposition away from an “all or nothing” approach, towards a more layered offer which more closely reflected the needs of different customers. This enabled the processor to push on areas of competitive strength, while de-emphasising areas where they did not wish to compete. We identified key “proof points” which would enhance the credibility of the offer, which were subsequently implemented by the team. We also identified potential partners and created marketing collateral to customer, to partner, and through partner. As a result of these and other changes, the processor successfully won its next two bids, including the #1 global contract in its category.
If you would like more detail on these projects and others that we have completed, please contact Mathew Stewart on +44 (0) 7872 376 112 .
We have worked with some of the giants in the marketplace to define and communicate the features and benefits of their most complex payment products, with excellent results.
We use techniques from the high-tech industry to break down the product into logical, simple components. We then build a “messaging framework” to address the needs of each particular audience. The end result is a value proposition and set of marketing communications that is relevant, credible, compelling, and reusable time after time.
Here are two examples of our work:
For an International Card Scheme:
We redefined the value proposition for a complex product, aimed at international retailers and acquirers, which had not been gaining sufficient traction in the marketplace. We produced a new messaging framework defining the features and benefits of the product from three perspectives: retailer, acquirer and scheme. After testing with retailers and acquirers, and agreement from stakeholders, we applied the new approach to develop reusable marketing and sales collateral. We also developed a unique “business case tool” to model the benefits of the product for specific clients, which was then rolled out to the sales force.
For a Specialty Payment Processor:
We started working with this client after they had just come second in two large bids to provide outsourced processing services. Together, we analysed the loss review findings and other research to understand what needed to change. As a result, we restructured the value proposition away from an “all or nothing” approach, towards a more layered offer which more closely reflected the needs of different customers. This enabled the processor to push on areas of competitive strength, while de-emphasising areas where they did not wish to compete. We identified key “proof points” which would enhance the credibility of the offer, which were subsequently implemented by the team. We also identified potential partners and created marketing collateral to customer, to partner, and through partner. As a result of these and other changes, the processor successfully won its next two bids, including the #1 global contract in its category.
If you would like more detail on these projects and others that we have completed, please contact Mathew Stewart on +44 (0) 7872 376 112 .
