Value Proposition Canvas
The Value Proposition Canvas is a strategic tool used to design, refine, and align a company's products or services with customer needs.
It consists of two main parts: the Customer Profile, which identifies the customer's jobs, pains, and gains, and the Value Map, which outlines how the product or service addresses those specific jobs, alleviates pains, and delivers gains.
By visually connecting these elements for research and industry focused activities, it creates value that resonates with our target audience, demonstrating clear opportunities and benefits for customers and stakeholders.
Why use the Value Proposition Canvas?
The canvas helps define your target partner by identifying what the partner is looking to accomplish;
- Their end goal (jobs to be done) - what do they want
- The associated pains associated with the jobs – problems to solve
- The perceived value of completing the jobs – value placed in success
Visualize the value you create
Define the most important components of your offering, how you relieve pain and create gains for your customers.
Achieve product-market fit
Adjust your Value Proposition based on the insights you gained from mapping partner needs.
What are the advantages of using the Value Proposition Canvas?
- Understanding the customer, with their needs and expectations.
- Developing a product in accordance with what your customer need and want.
- Comparing a product you already have with the user’s need.
- Finding your product-market fit.
- Avoiding producing something nobody wants.
- Saving time and money.