Define your Value Proposition
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A value proposition statement should clearly articulate the reason why a customer should purchase your product or service. It strengthens your offer by visualizing your product or service around a customers’ needs.
The Value Proposition Canvas
Use this Value Proposition Canvas to identify how your business provides value within the market and the benefits a customer will receive from purchasing your business. It can be creative and catchy yet clear and concise.
Elements of the Value Proposition Canvas
Customer Profile
The customer profile makes up the first half of the value proposition template. Start with this section and use your customers’ wants and needs to influence the overall canvas.
Customer Jobs
Identify the tasks your customers need to perform, problems they are trying to solve, and needs they wish to satisfy. This information should help define the purpose of your product or service in the eyes of the customer.
Pains
List the challenges, negative emotions, and obstacles your customers experience before, during, and after performing the “customer jobs.” Recognizing these pain points can help you identify opportunities or areas where your business can be most helpful.
Gains
Describe the expected benefit, outcome, desires, or surprises your customers can gain from your business. Knowing these expectations can help you manage your output better.
Value Map
The value map describes what the business offers to customers and helps define the value proposition.
Products and Services
Identify the product or service that will create the most gain and alleviate the most pains for your customers.
Pain Relievers
Define precisely how your business will help your customers overcome their pain points.
Gain Creators
List the product or service features that will make your customers happy or pleasantly surprised. Think creatively about the elements of happiness your customers experience. These may include functional utility, positive emotions, social gains, and cost savings.
Determine Value Proposition-Customer Fit
Once you’ve defined your value proposition statement, determine how it aligns with the customer profile. To do this, rank your products and services according to how well they address the customer’s needs.