It is not just enough to develop a credible value model but telling a compelling is equally important. As mentioned many times earlier, value is very subjective and is perceived by each of the personas differently. Many times, it is not just the number but the benchmarks and the metrics in the value model that generate discussion. Therefore, it may be useful to discuss an approach to the story telling process. I usually think of value story telling in terms of the following steps:
- Gain common understanding of the problem: This woud have been done during the value discovery process but restating the problem statement again sets the stage for the rest of the story.
- Identify the value recipient persona: It is important to know the audience that you are targeting in your value story. Focus on the areas that appeal to the audience and have clarity on the areas where you are likely to be challenged the most.
- Plot the storyline: Develop a vision for the value story. Clearly articulating the desired outcomes, benefits, and value that the solution will bring to the value recipient. Build a narrative that ties the opportunity, value recipient, and the value model together. The narrative should explain how the proposed approach will realize the benefits and address the risks ultimately bringing value to the value recipient.
- Contextualize the narrative: Use benchmark data and empirical evidence to support the narrative as much as possible. Do not be afraid of extrapolating your conclusions in case directly relatable benchmarks are not available. Make the story relatable to the audience. Use examples and analogies that resonate with the stakeholders to ensure that the discussion does not sound too theoretical.
- Acknowledge deficiencies in your model: Address objections and potential disagreement areas head-on in your story telling session. Acknowledging before it is brought up helps to show transparency of your process while building trust and credibility of the final value story.
By following these steps, you are able to craft a compelling value story that effectively resonates with your audience.
