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Published on January 9, 2009

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Values and Relevance in a world of choice : Ethical Investment Association Conference 1 Values and Relevance in a world of choice Paul Harding-Davis Outline : Ethical Investment Association Conference 2 Outline Introduction The risks of incongruence A world of choice and the battle for the mind Marketing 101 Value prop Positioning Conclusion Introduction : Ethical Investment Association Conference 3 Introduction Scene has been set by Simon The values you represent – are they applied in every part of your organisation? Incongruence with values can be terminal to relationships Incongruence? : Ethical Investment Association Conference 4 Incongruence? Congruence : Ethical Investment Association Conference 5 Congruence Congruence Do people experience what you promise? Relevance Will you still be relevant to their expectations if they experience a disconnect? Do they know or expect you to use your money differently to the values they have linked with you to satisfy?” Incongruence : Ethical Investment Association Conference 6 Incongruence How money is invested or spent Why haven’t they said anything? Most people don’t – they just leave With your investments – two scenarios Don’t understand yet Haven’t noticed yet What about suppliers and other expenditure? Title of a book by Trout and Reis A world of choice : Ethical Investment Association Conference 7 A world of choice Right to choice highly valued ASSIRT Investor Market Trends Survey 83% of respondents considered choice of super fund to be good or great On average fewer than 10% o fund members make a choice when offered Study on jams A world of noise : Ethical Investment Association Conference 8 A world of noise No of choices – enormous How many charities? How many super funds? DIY Professional – easy access to several hundred Volume of information – more than we can handle! How do you get through and establish your space? Positioning – the battle for the mind* : Ethical Investment Association Conference 9 Positioning – the battle for the mind* Clear value proposition Live it in every part of your business People innately detect a difference from the real values – cynicism Title of a book by Trout and Reis The six principles of strategic positioning* : Ethical Investment Association Conference 10 The six principles of strategic positioning* Start with the right goal For-profit – superior long-term return on investment Not-for-profit – situational –linked with outcomes and values Deliver a value proposition different from your competitors * Michael Porter, Strategy and the Internet The six principles of strategic positioning* : Ethical Investment Association Conference 11 The six principles of strategic positioning* Distinctive Value Chain Different activities to competitors or, same activities done in different ways Trade-offs Must be unique Not all things to all people - trying to do so almost guarantees no competitive advantage * Michael Porter, Strategy and the Internet The six principles of strategic positioning* : Ethical Investment Association Conference 12 The six principles of strategic positioning* Fit and interdependence throughout value chain Increases advantage Harder to imitate Continuity of direction must stand for value proposition continuous improvement, within strategic direction * Michael Porter, Strategy and the Internet Value proposition : Ethical Investment Association Conference 13 Value proposition USP/Single Minded Proposition etc “What is it that you do – from your customer/member’s perspective?” Choose and be driven by a: : Ethical Investment Association Conference 14 Choose and be driven by a: Value Proposition A simple clear internal statement of: Our target customers Key benefits (desirable end-results) you offer Price/Cost Superior Value Delivery : Ethical Investment Association Conference 15 Superior Value Delivery Provide a net value greater than the alternatives Definitions : Ethical Investment Association Conference 16 Definitions Value Benefits less price Benefit An end-result of paying your fees/using your service Price Total cost to member/client What is a benefit? : Ethical Investment Association Conference 17 What is a benefit? A solution to a problem An improvement in a situation A desirable or attractive condition of the member/client - after becoming your member/client A tool to accomplish a goal A pleasing experience A benefit : Ethical Investment Association Conference 18 A benefit It is only a benefit IF: it is the direct result of what you provide and it is both provided and communicated The hard work to get to it : Ethical Investment Association Conference 19 The hard work to get to it Write 3 simple statements that express what you do – from your client/members’ point of view. Ring at least three of them and ask them what they think Similarities? Set up “advisory board”? Conclusions : Ethical Investment Association Conference 20 Conclusions Incongruence is usually terminal to a relationship with a customer or a member. Everything you do – even how you use your money – must be consistent with your value proposition Do the hard work to develop a clear and unique value proposition In a world of choice – only distinct propositions get through. Old wisdom… : Ethical Investment Association Conference 21 Old wisdom… Knowing others is wisdom. Knowing yourself is superior wisdom. Lao-Tzu Disclaimer : Ethical Investment Association Conference 22 Disclaimer The opinions expressed in this presentation are those of myself only. They are to the best of my ability based on accurate information as at the time of presenting. They are not meant to be relied on in any decision making. In particular, in making investment decisions you should ensure you seek expert advice from a holder of an Australian Financial Services Licence.

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