Defining your Internal Value Proposition is the subject of this week’s episode of Project Management Paradise and Johnny speaks with Siobhan Maughan from Integrated Thinking.
Siobhan is founder of Integrated Thinking – where she helps businesses through her role as a scaling business executive coach and growth strategy mentor. At a company level, Siobhan achieves this through helping the organisation develop both an internal and external value proposition before developing a plan to use this clear and sustainable value proposition to grow revenue
In this interview Siobhan and I discuss Value Proposition, both internal and external. Integrated Thinking helps organizations understand how to engage with their target audiences as well as how to align product strategies to overall corporate objectives.
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Excerpts from Episode 23: Defining your Internal Value Proposition
Speaking about the meaning of a value proposition, Siobhan discusses the importance of getting your internal messaging correct firstly before spreading it externally. This will involve training sales people to portray the product in the correct way! To do this, you must begin with market analysis, decide who you are targeting, then put your customer hat on to think like your target market.
It can often be difficult to link the product to the customers need which can often be somewhat of a brick wall for sales, however it is important not to ask your customers what they want from you – rather find out what they are trying to achieve.
Product managers should be holding in-depth interviews with customers to understand what their expectations are from the product. This should be completed ion listening mode, taking in all the information that they possibly can. They should then look at what needs to change in the product and build into a comprehensive product analysis.
Siobhan states that projects should be prioritized by understanding what is most important to the market – prioritizing the internal value proposition with the help of information from the target market and ultimately using it to make decisions internally.
When asked by Johnny about the future of product marketing, Siobhan believes that will continue to evolve as it has done in the previous five years. The introduction of Agile as a methodology has brought both benefits and challenges to product management with benefits such as the collaborative working with engineering to produce prototypes up against challenges often faced through agile such as the organisation thinking once they hire a product manager there is no longer any cause for worry.