When talking about alliances many people mention “win-win”. However, I would argue that you need to look at the “win-win-win” in alliance value propositions instead of just at the win-win!
The value proposition is where an alliance starts. An alliance value proposition is the promise of measurable benefit resulting from an alliance. It is generally defined with three parties in mind.
Win-Win-Win – What’s The Difference?
The first party is the customer or, in the case of pharma or healthcare partnerships, the patient. If there’s no value for the customer, you should reconsider if the partnership you have in mind is even worth pursuing. The other two parties are your partner and you. It is important that all parties benefit from the alliance. That’s why we call it a win-win-win alliance value proposition.
Defining the right value proposition is an essential step in the alliance creation process and should be initiated before selecting a partner. It can also be a time saving tool. Recent Alliance Masterclass participants mentioned that it helped them to set the right priorities. It allowed them to better determine what alliance opportunities they should spend their time on.
Alternatively you can also assess the alliance value proposition on existing alliances. Try this simple exercise: Take a blank sheet of paper and write down your value proposition. Describe what you intend to deliver and what the customer will benefit from. Next, describe the benefits that you and your partner will gain by delivering this value proposition to a customer. Now have a look at the picture you’ve just created, then it’s time to ask yourself the question, is this an alliance worth pursuing?