6 Ways To Evaluate Your Company Story

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WAYS TO EVALUATE YOUR CORPORATE STORY PUBLISHED BY: ONMESSAGE, A MESSAGING INFUSION COMPANY JULY 2013
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Transcript of 6 Ways To Evaluate Your Company Story

Page 1: 6 Ways To Evaluate Your Company Story

WAYS TO EVALUATE YOUR CORPORATE STORY

PUBLISHED BY: ONMESSAGE, A MESSAGING INFUSION COMPANY

July 2013

Page 2: 6 Ways To Evaluate Your Company Story

Companies with sales forces who understand the messaging

platform will outperform the market by a substantial margin,

both in revenue, market share and profitability.

- CMO Council Report

Over 65% of sales leaders feel they’re losing business because

they don’t have a compelling value proposition.

- Miller Heiman, Sales Best Practice Study

Conversations with employees make up 53% of the reason why

customers choose a company over the competition.

- CSO Insights Survey

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AT onmessAge...We believe … messaging is strategic and intrinsically linked to

financial performance.

We believe … messaging must be woven into the fabric of the

organization and delivered consistently throughout the customer

experience.

We believe … messaging management is a journey that requires

the unwavering support of leadership. There are no short cuts.

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Messaging effectiveness can be measured along six key dimensions. In this executive brief we examine each of these dimensions and how you can improve the impact messaging has on the performance of your business.

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1sT DImensIon oF messAgIng

eFFecTIveness: ALIgnmenT

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6 Ways to EvaluatE your CorporatE story 6

As companies evolve and change, messaging often

remains static or becomes fragmented and inconsistent

with the desired direction of the business. When a gap

exists between your go-to-market strategy and the way

you describe your business (who you are, what you do

and the value you deliver) — you have a messaging

alignment issue.

Most often, alignment issues happen gradually,

over time, as elements of the business change, such

as launching new products/services, expanding

target markets or acquiring new companies. While

the executive team may speak to these changes

when communicating with specific audiences, the

majority of oral and written communication across

the organization does not follow suit. Even worse,

messaging modifications are made in an ad hoc or

sporadic fashion — not in a consistent, thorough

manner. When this happens, your messaging no

longer serves as a catalyst for growth but a deterrent.

To assess your company’s messaging effectiveness

along the Alignment Dimension, ask yourself

(or better yet, your entire management team) the

following questions:

> Have we updated and documented our

business goals/strategies to reflect our

current/planned go-to-market strategy? If

so, does our messaging accurately reflect

these plans?

> Do we know where we expect to grow and

what areas of the business will decline? Is

our messaging layered appropriately based

on these plans?

> Have specific roles in the buying process

changed based on our current product/

service mix (economic decision maker,

technical decision maker, influencers,

sponsors, etc.)? Does our messaging reflect

these changes?

> Does our messaging address new products/

services or areas where we have expanded

our capabilities?

> Have we entered new markets, or do we plan

to target new segments? Does our messaging

speak to these markets/targets? Do we need

to speak to these audiences differently?

These are just a few, pointed questions that will

quickly enable you to assess the alignment between

your business strategy and your story.

How closely aligned is our messaging with our business strategy?

ALIGNMENT

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2nD DImensIonoF messAgIng

eFFecTIveness: ReLevAnce

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6 Ways to EvaluatE your CorporatE story 8

Customers purchase your product or service because

it solves a problem and helps their business grow.

You capture their attention and interest when your

message resonates with them and is relevant to their

life or business.

Too often messaging fails to connect with your

audience because it doesn’t resonate at a fundamental

level. The reasons can be many: it doesn’t quickly link

your “solution” with the target audience’s pain points

or needs; it is based on incorrect or faulty assumptions

about what is most important to your audience; or it

doesn’t utilize the language and terminology that are

meaningful to your audience. The result is prospective

customers who can’t identify with your proposed

solution or are not convinced that your solution will

solve their problem/challenge.

Speaking to your target audience in a relevant and

meaningful way requires a deep understanding of your

prospective customer and what is most important

to them. To assess your company’s messaging

effectiveness in the Relevance Dimension, ask yourself

the following questions:

> Who are the decision makers and influencers

we must connect with to close the sale? What

do we know about their roles, pain points

and priorities?

> How clearly and consistently does our

messaging speak to their needs and pain

points? Have their needs evolved? Have

business or market trends changed their

view of the problem/situation they are

trying to address?

> Do we understand the decision-making

process and criteria they use when

purchasing a solution like ours? Does our

messaging address key objections/barriers in

the mind of our target audience?

> What is the customers’ attitude and

awareness of our company? What perception

do they have about our company/product/

service? Does our messaging overcome

negative perceptions that exist?

> Have we captured a detailed profile

of our target audience (demographic/

psychographic)?

> Are we speaking in our target audience’s

language (terminology/tone/voice)?

Ensuring your messaging is relevant to your target

market is one of the most critical dimensions of

messaging effectiveness. So don’t assume your

messaging resonates with them … ask them.

Does our message resonate and connect with customer needs?

RELEVANCE

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3RD DImensIonoF messAgIng

eFFecTIveness: unIqueness

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In the B2B world, it can be challenging to develop a

message that illustrates your value, especially one that

clearly shows how that value is distinct or different

from your competitors. Yet it’s vital to illustrating how

and why your business solution is better.

Do you have more experience than your competitors,

or a unique technology or process? Can you provide

cost savings with greater economies of scale?

Demonstrating the value you deliver begins with

identifying and defining the points of differentiation

that your company offers, then making sure these key

differentiators are driving your messaging.

Uniqueness is a dimension that highlights your

company’s strengths and promotes your exclusive

ability to deliver the optimal solution for your

customers. When examining your message in the

Uniqueness Dimension, assess the following:

> How do we differ from the competition in

terms of what we do and how we go about

doing it? Identify and examine all nuances,

from product and service mix to training and

expertise, to unique delivery models or

capabilities. What makes us stronger than

other providers?

> How do each of these differentiators actually

benefit our customer? Can we distinguish

ourselves in terms of the performance and

results we deliver? Be specific and look deep

here. Does it simply deliver the results our

customers expect and demand, or does it do

something even more significant?

> What makes our differentiators valid and

credible? Can we pinpoint specific examples,

such as levels of inventory, quality standards,

customer service ratings or specialized

training to help illustrate our unique strengths?

> Can we truly own these differences as a

point of uniqueness? Or are there barriers to

overcome in our customers’ perception of

this uniqueness?

It’s important that your potential customer base clearly

understands how and why you are different, and how

those differences make your offering better. In your

messaging, these distinctions become your audience’s

compelling reasons to choose your offering over the

competitive product or service.

Is our message ownable and truly different from our competitors?

UNIQUENESS

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4Th DImensIonoF messAgIng

eFFecTIveness: consIsTencY

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6 Ways to EvaluatE your CorporatE story 12

Today’s messaging environment is more complex

than ever. To be truly effective, messaging must be

delivered consistently throughout the entire customer

experience — from social media to sales presentations,

industry events and customer service phone calls

… even casual conversations in the hallway. Every

interaction is an opportunity to strengthen your

market position or lose market share. And every voice

within your organization must be able to deliver your

message in a consistent and compelling manner.

The development and use of consistent messaging

across all channels helps establish the value of your

product/services in the marketplace and reinforces

the position you want to own in the mind of your

target audience. When executed properly, consistent

messaging turns every connection into a building block

for a cohesive and compelling customer experience.

When evaluating your messaging in the Consistency

Dimension, ask yourself the following questions:

> Does our messaging demonstrate an unwavering

commitment to how we describe who we are,

what we do and the value we deliver?

> Have we clearly documented our “approved”

messaging in one place that everyone can

access and that serves as our platform for all

communication?

> How consistently is our messaging being

delivered within our organization? Have we

provided any education or training to our

employees in regard to our messaging? Do all

of our employees understand our key points

of difference and the value we deliver?

> How consistent is the messaging in our

core marketing communications vehicles —

website, brochures, proposals, presentations,

videos, social media profiles, etc.?

> Do our broader advertising and marketing

vehicles include a core set of messages that

align with the day-to-day conversations,

sales tools and marketing materials we use?

> Do sales, customer service and support

conversations include key messages that

consistently support our story?

Consistency exponentially increases the power of

your messaging. When messaging is consistently

infused into your company, culture and customers, it

elicits optimal engagement across all communication

channels and enables you to achieve the highest return

on every connection you make.

How consistently is our message delivered

inside and outside of our organization?

CONSISTENCY

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5Th DImensIonoF messAgIng

eFFecTIveness:

RecALL

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Recall is a critical factor in measuring messaging

effectiveness and determining the success or failure of

audience engagement. Each and every day individuals

are exposed to 3,000 to 20,000 messages, making it

more difficult than ever to break through the noise and

ensure your audience remembers your story. To give

yourself a fighting chance, you must be disciplined at

infusing a clear, compelling and consistent message

into every customer interaction.

Effectiveness along the Recall Dimension can only

be measured based on direct input from your target

audience. So the first question you have to ask is,

“What measures have we taken to evaluate the current

perception of our company within our target market?”

To monitor and improve recall effectiveness, you

must conduct qualitative and/or quantitative surveys

on a regular basis. By taking this step you can gather

the insight you need to evaluate your messaging and

determine where and how it can be improved. In the

end, you’ll be able to answer questions like:

> Does our target understand the core

products/services we offer and what we do?

> Do they clearly understand the value

we provide?

> How well-recognized is our brand? What are

we most known for? How does that compare

to the competition?

> Where are the gaps between audience

perceptions and the messaging we are using

in the market?

> How well have our employees absorbed our

messaging? Are they able to quickly and

easily “play back” our story in prospect and

customer conversations?

Just because you are sending messages into the

marketplace does not mean that they are being heard.

Determine what messages are breaking through, those

that are not and, most importantly, the messages that

your target audience remembers about what you do

and the value you deliver. This is the key to maximizing

recall effectiveness.

Is the message we are sending really what our audience hears and remembers?

RECALL

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6Th DImensIon oF messAgIng

eFFecTIveness:

vALue

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6 Ways to EvaluatE your CorporatE story 16

Too often we see the same issue detracting from messaging effectiveness: features and benefits taking precedence over the deeper, more meaningful value that your product or service provides to customers.

Value belongs at the forefront of nearly every client conversation, and needs to be absolutely clear and compelling to your target audience. When you only have seconds to make a connection, it’s essential that you highlight the real and overarching value that your solution provides in a way that resonates with your target. Speaking to the key issue that is most valuable to your target audience grabs their attention and keeps them engaged as you tell the rest of your story.

Certainly features and benefits are important, but these aspects to your messaging are more appropriately conveyed later in the conversation and become the reasons your customers will believe in your ability to deliver the value promised. For example, a car manufacturer isn’t selling anti-lock brakes; they’re selling a safer driving experience. The inner workings of the anti-lock brakes substantiate the value: safety.

To ensure messaging communicates value in a clear and compelling way, ask yourself these critical questions:

> Have we fully inventoried our services, products, capabilities and all other aspects of what we do? Have we captured the supporting reasons to believe in each of these areas?

> Based on this inventory, what is the “collective or most meaningful value” that we provide

our customers? Have we captured and elevated that single, overarching value in the way we currently deliver our message?

> Have we validated that this value is, in fact, “meaningful” to our customers? Is that value something that connects with our target audience in a personal way? Does it connect in a way that drives action?

> Does our messaging then incorporate and substantiate that value through relevant features and proof points to ensure the target believes in our ability to deliver it?

> When we engage a prospect or customer, do we put this value at the forefront of every conversation and interaction as a key driver within our messaging?

> Have our employees been trained to make accurate distinctions between features, benefits and value, and to utilize them properly in delivering our messaging?

> Can every employee articulate our value proposition in a clear and consistent manner?

Value represents that deepest and most meaningful advantage that your customer will derive from your solution. Messaging that clearly communicates your value is the cornerstone to ensuring that you are making the most of every communication investment.

Is the value we deliver clear and compelling to our target audience?

VALUE

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Corporate messaging is a strategic weapon

and competitive advantage in the market

place. In fact, it is such a powerful weapon that

when companies deploy effective messaging,

they outpace other firms in quota achievement

by 25% and increase customer win rates by

more than 20%.

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6 Ways to EvaluatE your CorporatE story 18

So make sure you ask the hard questions and improve your messaging across all 6 dimensions:

ALIGNMENT: How closely aligned is your messaging with your business strategy? Your messaging should not remain static, or become fragmented over time. All companies evolve and change; your message needs to keep pace with your go-to-market strategy, product mix and services.

RELEVANCE: Does your message resonate and connect with customer needs? Cultivate a deep understanding of your prospective customer and what is most important to them. Then make sure your messaging links your “solution” with the target audience’s pain points or needs.

UNIQUENESS: Is your message ownable and truly different from your competitors? Your message should clearly highlight your company’s strengths and promote your exclusive ability to deliver the optimal solution for your customers.

CONSISTENCY: How consistently is your message delivered inside and outside of your organization? Ensure consistent application throughout the entire

customer experience — from social media to sales presentations, industry events and customer service phone calls … even casual conversations in the hallway.

RECALL: Is the message you are sending really what your audience hears? Continuously monitor your messaging recall factor by conducting customer surveys on a regular basis. Then use this insight to adjust your messaging for optimal comprehension and retention.

VALUE: Is the value you deliver clear and compelling to your target audience? Use your message to highlight the real and overarching value that your solution provides in a way that resonates with your target.

If you do — your message will stand out from the competition, you’ll engage your target audience at a higher level and increase the financial performance of your business.

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About the Author and OnMessage

James F. O’Gara is the president and founder of OnMessage.

OnMessage is a messaging infusion company with a proven model

for helping organizations develop a clear, compelling and consistent

message. Our methodology aligns a company’s strengths and true

point of difference with customer needs to create a messaging

platform that elicits optimal engagement across all communication

channels. This methodology, when combined with the company’s

employee training programs and demand generation services,

enables organizations to achieve the highest return on every

connection they make by infusing effective messaging into their

company, culture and customers.

For more information

To learn how OnMessage is helping companies change the way

leaders infuse messaging into their company, culture and customers

visit itsonmessage.com.

Follow us on

twitter.com/onmessage

facebook.com/onmessage

itsonmessage.com/blog

© Copyright OnMessage, Inc. 2013 | All rights reserved.