Thursday, March 08, 2007

TAVMA: Defining the value proposition

Orlando is significantly warmer than Jim Thorpe this time of year, so I'm glad to be onsite for the annual conference of the Title/Appraisal Vendor Management Association. It's been a great show thus far and continues through tomorrow.

Today's sessions pushed attendees to think about their businesses in new ways, before their customers, home borrowers and legislators made up their own minds about what this business is all about. In the words of excellent keynoter Thomas J. Winninger, TAVMA members must be able to answer four key questions if they hope to avoid commoditization:

1) Who are you?

2) What do you do?

3) Who do you serve?

4) What is different about you?

Sounds like material right out of a first year marketing textbook, but Winninger puts a great spin on it. He warned attendees not to answer the first or second questions in terms of products, which can be commoditized, but in terms of a solution to the changing needs of the company's primary customers.

Example: Kodac. Does the company sell film or the preservation of life's magic moments?

He was a very impressive speaker. Find out more about what he says companies should be doing in his latest book "BULLSEYE" Thinking Smart!

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