NAS Seminar - Creating Value - Day 1

36
20-24 April 2014

Transcript of NAS Seminar - Creating Value - Day 1

Page 1: NAS Seminar - Creating Value - Day 1

20-24 April 2014

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Myles Gordon

Gail Crider

Jim Rosenberg

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Strategic Thinking

Integrated Action

Planning & Communication

Collective Action

Community Value

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8:30 – 9:30 Key Ideas from Workshop I

9:30 – 10:30 “Creating Value” in Museums

10:45 – 11:15 Effective Programming

11:15 – 12:00 Your “Value Proposition”

12:45 – 1:45 More Work on Your “Value Proposition”

2:00 – 3:00 Finishing Your “Value Proposition”

3:00 – 3:30 Reflection on the Day

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Assumptions

The underlying

assumptions that

influence the

project’s design,

implementation

or objectives

Inputs

Human, financial,

organizational &

community

resources needed

to achieve the

project’s objectives

Activities

Things the project

does with the

resources to meet

its objectives

Outputs

Products of

implementing the

activities, which

are necessary but

not sufficient

indications of

achieving the

project’s

objectives

Outcomes

Short-term

intended and

unintended

changes (e.g., in

knowledge,

attitudes, skills)

as a result of the

project

Impacts

Long-term

intended and

unintended

changes (e.g., in

behavior, status,

systems) as a

result of the

project

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“Museums

are for

tourists”

Available

Gallery

Space

Organization ConstraintsSocietal

Constraints

Source: David Owens, Vanderbilt University

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Value is created by meeting customer needs. Not by the product that is sold,

but by the customer benefit it provides.

Value is the relationship of the total benefits to the total costs for the customer.

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National Identity

Competition

New Revenue

New Audiences

School Impact

Visitor Experience Accountability

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Guest Value

Museum Surplus

+ Subsidy

Museum Cost

Museum Value

Will

ingn

ess

to P

arti

cip

ate

Guest Interest

External Costs

Guest Value

AdmissionAdmission

Cost

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Family

Guest Value

Will

ingn

ess

to P

arti

cip

ate

External Costs

Admission Cost

Tourist

Will

ingn

ess

to P

arti

cip

ate External

Costs

Admission Cost

Will

ingn

ess

to

Part

icip

ate

Guest Value

Student

External Costs

Admission Cost

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1. Understand YourAudience Segments

2. Target the Audiences You Want

3. IdentifyTheir Preferences

4. Define YourValue Promise

1

2

3

4

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A set of guestswho have common characteristics

(profile, benefits, or buying behavior), who will respond in a similar manner

to actions taken by the institution.

1

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Segmentation Dimensions 1

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Explorers

Facilitators

Professional / Hobbyist

Experience Seekers

Rechargers

Respectful Pilgrims

Affinity Seekers

1

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2

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Size / Growth

Accessible /Identifiable

Credible / Addressable

Sustainable

2

Mission

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1. Understand YourAudience Segments

2. Target the Audiences You Want

3. IdentifyTheir Preferences

4. Define YourValue Promise

1

2

3

4

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Program attributes are the characteristics or features

of your program that appeal to your customers.

3

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1 2 3 4 5

Relative Performance

HypermarketMall

Adapted from Frances Frei

Low Prices

One Stop Shopping

Family Essentials

Convenience

Destination Experience

Premium Brands

Quality

Entertainment

3

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Proposition is a unique audience promise

for your programs

4

relative to competing alternatives in the minds of the target visitors.

that gives you aclear, distinctive, and attractive position

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The Positioning Statement

For,Target Segment

isOur Offering (single most important claim)

among all(competitive frame)

because(most important support)

4

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Example: Hypermarket

For,Target Segment

isOur Offering (single most important claim)

among all(competitive frame)

because(most important support)

4

Value Shoppers

Hypermarket shopping the best way to care for your family

Muscat retailers

of our one-stop savings

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Example: Mall

For,Target Segment

isOur Offering (single most important claim)

among all(competitive frame)

because(most important support)

4

Aspirational Consumers

Mall shopping A taste of the good life

Muscat retailers

premium experience in every detail

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The notion of “value” (and the challenges for museums)

Segmentation

Targeting

Audience Attributes

Positioning

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Value only has meaning when you say 1) for whom, and 2) compared to what

Audience willingness to participate is a result of inherent visitor characteristics, the experience you create, admission costs, and external costs

Segmentation allows you to paint a meaningful picture of all the potential visitors for your museum

Targeting allows you to focus your resources

Visitor attributes give you clear goals for your services

Positioning defines your fundamental value promise –and the structure creates a mirror to test your ideas

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