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Using Mad Libs for Better Product Positioning

One consistent challenge for many companies is that the people who develop a new product, service or brand lose often sight of WHY it was created.

Before developing marketing strategy and messaging, it is crucial to understand the benefit that the product is providing for a specific audience, and how your organization delivers this benefit uniquely, a.k.a. the value proposition.

Even if your organization’s leadership agrees on mission, vision and values, it is possible that you will find a wide spectrum of opinions when you begin to discuss the value proposition. In your next leadership meeting, identify a product or service and have each stakeholder complete this simple Mad Lib. After each person completes their own value proposition, discuss the points that align and those that conflict. This will help determine the attributes that differentiate your organization and create value for customers.

 

My company, _______(company name)____________

is developing (or offers) ____(a defined offering)____

for ________(target customer)___________________

that will _______(ultimate benefit)________________

because…

1) (proof point)________________________________

2) (proof point)________________________________

3) (proof point)________________________________

 

Example
My company, McDonald’s

offers low-cost fast food

for families

that will provide consistent, low-cost fast food

because they

• have modern technology and advanced equipment which allows one employee to do the work of many
• develop new menu options to provide food that meets the demands of a variety of family members
• maintain focus on family target demographic by offering playgrounds, happy meals and other items tailored specifically to families
• focus on business operations and efficiency to consistently set standards and exceed expectations for customers and operators

 

Tips for Each Section

The offering:

• Be specific
• Avoid buzzwords
• Say what it is—don’t embellish

Target customer:

• Identify demographics. Try to be more specific than your initial gut response—instead of just female, perhaps married females is more accurate. Or, married females who work outside the home. The more specific, the better.
• Clarify the buyer. Who is the specific decision-maker? CEO? Purchasing manager? Interior designer? This is especially important for business-to-business organizations.

Ultimate benefit:

• Make sure the audience can relate to and understand the problem.

Proof points:

• Your secret sauce—what makes your solution better than others?

Remember, for the best discussion, have each person create their own version independently, then compare and discuss. Your marketing team and/or ad agency will thank you, and your stakeholders will thank you because of improved ROI due to streamlined creative development and hyper-targeted media spend.

 

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AcrobatAnt.com
502 S Boston
Tulsa, OK 74120
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Sources:

http://www.sarahdoody.com/identifying-your-product-story-try-this-madlibs-style-activity/#.WrAkeKjwaiw

https://techcrunch.com/2010/11/03/madlibs-pitch-adeo-ressi-founder-institute/

Bridging Worlds: The Future Role of the Healthcare Strategist. Second Edition. Society for Healthcare Strategy & Market Development. © 2017-2018

https://www.forbes.com/sites/michaelskok/2013/06/14/4-steps-to-building-a-compelling-value-proposition/#1e3fc6974695