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INFORMATION TO CHANGE THE WORLD Value Proposition1 Building the Information Centers Value Proposition NOCALL Fall Education Workshop November 12, 2003.

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Presentation on theme: "INFORMATION TO CHANGE THE WORLD Value Proposition1 Building the Information Centers Value Proposition NOCALL Fall Education Workshop November 12, 2003."— Presentation transcript:

1 INFORMATION TO CHANGE THE WORLD Value Proposition1 Building the Information Centers Value Proposition NOCALL Fall Education Workshop November 12, 2003 Libby Trudell Sr. Vice President Information Professional Development Dialog

2 INFORMATION TO CHANGE THE WORLD Value Proposition2 Building the Information Centers Value Proposition Linking Information Services to Compelling Business Events Marketing: Your Elevator Speech created by Net Worth Consulting, Inc for Dialog, 2002

3 INFORMATION TO CHANGE THE WORLD Value Proposition3 Todays Schedule

4 INFORMATION TO CHANGE THE WORLD Value Proposition4 Quantum 2 Linking Information Services to Compelling Business Events is part of Dialogs Quantum 2 program Quantum 2 is: –A professional development program for information professionals –A combination of training, communications and tools to help information professionals develop leadership skills and demonstrate the value of their services to their organizations –Available free to information professionals worldwide –Quantum.dialog.com

5 INFORMATION TO CHANGE THE WORLD Value Proposition5 Quantum 2 Leadership Circle Strategic Competencies Environmental analysis Knowledge culture vision Perception analysis Relationship management Management buy-in Business Competencies Needs assessment Service definition Marketing : Package, Promote, Persuade Performance Measurement

6 INFORMATION TO CHANGE THE WORLD Value Proposition6 Todays Schedule

7 INFORMATION TO CHANGE THE WORLD Value Proposition7 Who Are Your Patrons & Clients? Who are your current and potential patrons/clients? Why? –Anyone who walks in? –The funding department? –The company/organization itself? –A broader constituency (e.g., shareholders, beneficiaries)? –The field of research itself, connecting to broader human knowledge?

8 INFORMATION TO CHANGE THE WORLD Value Proposition8 Who Are Your Patrons & Clients? Anyone Funders Company/ Organization Broad Constituency Researchers Exercise #1

9 INFORMATION TO CHANGE THE WORLD Value Proposition9 Who Are Your Patrons & Clients? Exercise #2

10 INFORMATION TO CHANGE THE WORLD Value Proposition10 Who Are Your Patrons & Clients? Anyone who walks in? The funding department? The company/organization itself? A broader constituency (e.g., shareholders, beneficiaries)? The field of research itself, connecting to broader human knowledge ? Anyone who walks in? The funding department? The company/organization itself? A broader constituency (e.g., shareholders, beneficiaries)? The field of research itself, connecting to broader human knowledge ? Who is in your inner circle Who should be there?

11 INFORMATION TO CHANGE THE WORLD Value Proposition11 Todays Schedule

12 INFORMATION TO CHANGE THE WORLD Value Proposition12 What Are Compelling Business Events? Mergers, acquisitions, divestitures Products changed or introduced Regulatory/legal changes Societal changes Staffing pattern changes (work-at-home, redundancies, increased recruitment) Markets opening or closing Distribution channel changes

13 INFORMATION TO CHANGE THE WORLD Value Proposition13 The Magic Bullet Compelling Business Events are the magic bullet to demonstrate the power of the Information Center

14 INFORMATION TO CHANGE THE WORLD Value Proposition14 The Magic Bullet How can you recognize Compelling Events? –Sponsorship has been assigned –Action must be taken –Resources have been committed –Attention is on outcomes – within a particular time frame –Can Info Center help in demonstrable ways?

15 INFORMATION TO CHANGE THE WORLD Value Proposition15 Linkage Compelling Financial Events Client/Patron Priorities Info Center Assistance

16 INFORMATION TO CHANGE THE WORLD Value Proposition16 Making Trade-offs Among Customers Choosing compelling financial events –Capture the needs of the broadest grouping of customers where success is most critical, And –Build the Info Center brand for the other, less crucial ones.

17 INFORMATION TO CHANGE THE WORLD Value Proposition17 Driving the Need for Information How do compelling business events drive the need for information?

18 INFORMATION TO CHANGE THE WORLD Value Proposition18 Driving the Need for Information

19 INFORMATION TO CHANGE THE WORLD Value Proposition19 Driving the Need for Information

20 INFORMATION TO CHANGE THE WORLD Value Proposition20 Driving the Need for Information

21 INFORMATION TO CHANGE THE WORLD Value Proposition21 Todays Schedule

22 INFORMATION TO CHANGE THE WORLD Value Proposition22 Exercise: Example #1 Information Solves Business Problems Acquire new/expanded practice area: Weil, Gotshal & Manges expands global competition practice with addition of Clifford Chance Partners. PR Newswire, Oct 16, 2003 Weil, Gotshal & Manges LLP, one of the world's leading law firms, today announced an expansion of its highly regarded global competition practice. Steven A. Newborn, James C. Egan, Jr., John E. Scribner and Laura A. Wilkinson will be joining the firm as partners, resident in its Washington, D.C., office. They join Weil, Gotshal & Manges from Clifford Chance. Assess from perspective of Weil, Gotshal or competing firm

23 INFORMATION TO CHANGE THE WORLD Value Proposition23 Worksheet: Example #1 Information Solves Business Problems

24 INFORMATION TO CHANGE THE WORLD Value Proposition24 Exercise: Example #2 Information Solves Business Problems Geographic market expansion: Dewey Ballantine Launches Italian Practice PR Newswire, Sept 23, 2003 International law firm Dewey Ballantine LLP announced today that, as the next stage in its planned European expansion, it will open offices in Milan and Rome and an Italian desk in the Firm's London office. The launch of the Italian practice, which will take effect on October 1, 2003. Dewey Ballantine's Italian practice will initially be staffed by approximately 20 lawyers... Assess from perspective of Dewey Ballantine or competing firm

25 INFORMATION TO CHANGE THE WORLD Value Proposition25 Worksheet: Example #2 Information Solves Business Problems

26 INFORMATION TO CHANGE THE WORLD Value Proposition26 Exercise: Example #3 Information Solves Business Problems New product Introduction: Introducing Morgan Lewis Resources: New Enterprise to Assist Companies With Federal Compliance Needs. PR Newswire, Sept 10, 2003 Morgan Lewis, one of the 10 largest U.S. law firms, today announced the launch of Morgan Lewis Resources, a major initiative to help corporate clients meet their increasingly demanding federal regulatory requirements by providing companies a full spectrum of legal risk containment products and services… Assess from perspective of either Morgan Lewis or a competing firm…

27 INFORMATION TO CHANGE THE WORLD Value Proposition27 Worksheet: Example #3 Information Solves Business Problems

28 INFORMATION TO CHANGE THE WORLD Value Proposition28 Exercise: Example #4 Information Solves Business Problems Change in legislation or policy: US govt uses Latham man in CSFB case Story from www.thelawyer.com/lawyernews Latham & Watkins co-chair of global securities David Brodsky has become the US government's star witness in the obstruction of justice trial against former Credit Suisse First Boston (CSFB) banker Frank Quattrone. The testimony of the lawyer, a former managing director and general counsel for the Americas for CSFB, who joined Latham's New York office in 2002, signifies another nail in the coffin of the hallowed attorney-client privilege following the publication of the Sarbanes-Oxley Act. The act gives corporations the option of allowing in-house counsel to testify in court by waiving attorney-client privilege. Consider impact from perspective of any corporate practice area

29 INFORMATION TO CHANGE THE WORLD Value Proposition29 Worksheet: Example #4 Information Solves Business Problems

30 INFORMATION TO CHANGE THE WORLD Value Proposition30 Exercise: Compelling Financial Events Assessing Business Risk!

31 INFORMATION TO CHANGE THE WORLD Value Proposition31 Todays Schedule

32 INFORMATION TO CHANGE THE WORLD Value Proposition32 Two-way Linkage Compelling Financial Events Client/Patron Priorities Info Center Assistance

33 INFORMATION TO CHANGE THE WORLD Value Proposition33 Closing Action Support from Quantum 2

34 INFORMATION TO CHANGE THE WORLD Value Proposition34 BREAK!

35 INFORMATION TO CHANGE THE WORLD Value Proposition35 Marketing: Your Elevator Speech

36 INFORMATION TO CHANGE THE WORLD Value Proposition36 The Marketing Message Why do you use choose a product? What makes you choose? –Value –Price –Emotional attachment How does that product differentiate itself from others? What makes it unique?

37 INFORMATION TO CHANGE THE WORLD Value Proposition37 To whom are you marketing? People – the original P Who are your customers? –Nowcore market –Future prospects –Hidden audience? What are your customers needs? How well are you providing for them? –Customer Satisfaction – Do you track it?

38 INFORMATION TO CHANGE THE WORLD Value Proposition38 1. Your Target Customer Think in terms of: –What are my customers difficulties? –What motivates my customers?

39 INFORMATION TO CHANGE THE WORLD Value Proposition39 What are you marketing? Can you easily describe your services/ products? Can you describe the value/benefits they bring? What is the message you are trying to put forward? –e.g. You provide a trusted, reliable information service that is the most cost effective alternative

40 INFORMATION TO CHANGE THE WORLD Value Proposition40 2. Your Deliverables Use such questions as: –Who are we? –What do we offer? (the services or features we provide) –What are our key strengths? –What are our limitations?

41 INFORMATION TO CHANGE THE WORLD Value Proposition41 3. Benefits of Your Services Use questions such as: –What problem is solved by my service? –What solutions have worked? –What has failed?

42 INFORMATION TO CHANGE THE WORLD Value Proposition42 Why are you marketing? Create a desire/need for your services? Create understanding of the value of your services – develop identity? Get that message out? Expand your client base? Grow your product line? Counter threats – internal/external?

43 INFORMATION TO CHANGE THE WORLD Value Proposition43 4. Desired Customer Action Call me? Recommend me to someone else? Stop by the IRC for a tour? ?

44 INFORMATION TO CHANGE THE WORLD Value Proposition44 The Elevator Speech Formula FOR (target customer) WHO (needs or is an opportunity for) THE (product or service name) IS A (product category) UNLIKE (primary competition) OUR PRODUCT (primary difference)

45 INFORMATION TO CHANGE THE WORLD Value Proposition45 Sample Elevator Speech For Information Professionals who are interested expanding their roles as leaders in their organizations, Quantum 2 is a leadership development program that offers workshops based on strategic and business competencies. Unlike other similar programs, ours is not merely information posted on the internet. It also offers a combination of training, communications and tools to help information professionals demonstrate their value within their organizations.

46 INFORMATION TO CHANGE THE WORLD Value Proposition46 Marketing Plan Template Market Analysis –Target Market –Competition Environmental Analysis Product Analysis Marketing Strategies –Positioning and packaging –Promotion and persuasion –Pricing and Budget Goals - Measurable and Quantifiable Monitoring Progress

47 INFORMATION TO CHANGE THE WORLD Value Proposition47 Thank you! Questions? quantum.dialog.com Libby Trudell@dialog.com


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