Note: This is a brief overview of the value modeling module. For a more information, follow the links within this article or see the Value Modeling Video Overview.
The value modeling module is used to create an Economic Value Estimation (EVE) model. It consists of a seven step process defined by separate tabs.
The main components of this screen are the same for all tabs as well as the other marketing modules (Value Communication and Price Setting). They are:
- Help (left-hand panel) provides help text for each tab, input field, and major sections appearing on the screen. The help text changes automatically as you move through the screen.
- All Value Models breadcrumb (top left) is a hyperlink back to the Marketing User Home Page
- Save (upper right). Save data changes. See Save Permission and Read-Only
- More button selections
- Model Notes is a formatted text box designed for individuals or teams to record notes or any unstructured data associated with the value model.
- Units & Currency is used to 1) define the currency/precision of the value model; 2) define the conversion factors between Customer, Competitor and Offering units of measure; 3) Add additional customer units of measures; 4) (if applicable) toggle between Hide/Show acquisition efficiency; 5) (if applicable) define the conversion factor between the Competitor and Offering unit of measure.
- Labels is used to assign one or more pre-defined labels that describe the value model intended to make it easier to find by other users.
- Share (Owners only) is for assigning permissions to the value model either to individuals or Groups. The permission levels are: Is Owner, Can Edit, Can View.
- Review (if available in the configuration) is used to assign and manage model reviewers
- Export is used to export contents of the value model in either an Excel or PowerPoint template. There can be multiple templates of each.
- Enable Save is used to restore the Save button after a brief internet disruption. See Save Permission and Read-Only
- Contact provides the contact person for the value model. The model creator is the default contact person.
- Placeholders opens the Assign Unique ID dialog. See Placeholders
- Preview as VP is to preview an unpublished value model as a value proposition with a selected template. See Preview as VP
Here is a description of each tab in the Value Model Module. They are ordered in a logical process, although the user may move through tabs in any order if they choose.
|1. Start||Enter a name or description in the Offering, Customer, and Competitor alternative fields. Also, define the Customer unit of measure.|
|2. Units & Prices||Either add custom (or Select Existing) Price Components for the Competitor and Offering. You also have the option to define different units of measures for the Competitor and Offering if appropriate.|
|3. Benefits||Either add custom (or Select Existing) Features and Benefits for your Offering. You can also link them to show relationships in a table.|
|4. (+)Value Drivers||
Either add custom (or Select Existing) Positive Value Drivers for your Offering. Existing value drivers can also be modified to create new versions.
Value drivers can be quantified by inputting data into their variables. Each variable can be broken out into a sub formula. Variables can be tagged and have meta data attached to them.
You can also link value driver to Benefits in a table to show relationships.
|5. (-)Value Drivers||Either add custom (or Select Existing) Negative Value Drivers for your Offering. Negative value drivers can be added in two ways, either as an additional operating cost, or as a competitive disadvantage.|
|6. Summary||Shows an interactive Economic Value Estimation (EVE) chart. User can toggle alternate units of measure, uncheck/check value drivers, input values into variables, uncheck/check or change inputs for Competitor or Offering price components.|
|7. Next Steps||Provides a checklist of items to evaluate value model. User can also add file attachments to the value model or navigate to the Value Communication and Price Setting modules from here.|