Unit 2: Getting Started with Your Social Value Proposition
Community foundations vary in their goals, capacities, and value propositions to engage and retain donor families. This unit will help you frame your Social Value Proposition and suite of philanthropic services.
TUNE-IN (5 minutes): Strategyzer’s Value Proposition Canvas Explained
READ (30 minutes): Types of Value Proposition
Your services and products need to provide perceived and real value for a customer segment, even when the customer doesn’t always know how to describe what she desires or needs.
Research by Bain & Company identified four categories of value proposition—functional, emotional, life changing, and social impact—modeled after Maslow’s hierarchy of needs. Bain & Co. created this interactive visual to help you explore the elements of value in each category and wrote about applying the research in this Harvard Business Review article. Its research showed that performing well on multiple elements of value creates more customer loyalty and higher revenue growth.
Which elements of value are most important to your customer segment? Might they be like those that influence loyalty in the financial services industry (quality, good investment for future generations, provides access)?