FREE Product Value Proposition Canvas Template for Notion, FigJam, and Print
If you really care about your customers and really want to understand them, then the value proposition canvas is a tool that will transform how you innovate and market your business.
Understanding why customers buy is at the heart of the value proposition canvas.
What Is the Value Proposition Canvas?
The Value Proposition Canvas is a framework that can help ensure that a product or service is positioned around what the customer values and needs. The Value Proposition Canvas was initially developed by Dr. Alexander Osterwalder as a framework to ensure that there is a fit between the product and the market.
The Value Proposition Canvas was developed by Alexander Osterwalder and Yves Pigneur to complement the Business Model Canvas. The canvas focuses on understanding customers problems and producing products or services that solve them.
Telling people you have a great product doesn’t make them want it.
You can produce an awesome product with all the bells and whistles, but if it fundamentally doesn’t help customers, or you don’t explain the value clearly, they won’t buy it.
How-To Prepare your business Value Proposition
- Choose a customer segment/profile.
- Identify the jobs – the things that the customer is trying to get done.
- Create a list of jobs and prioritize them according to how important they are to your customer.
- Identify your customers pains and prioritize them.
- Identify all of their gains and prioritize them.
- Pick the top 3-5 pains and gains that are the most important and relevant – that relate to the most important jobs.
- Create a list of all the benefits your product or service offers to your customers.
- Create a list of pain relievers – things that your product can do to alleviate pain.
- Create a list of gain creators – ways in which your product or service creates customer gains.
- Pick the top ones (gain creators and pain relievers) that make the biggest difference to your customer.
- Link the value your products or services create to your customer and choose the most compelling value generators.
- State clearly how your solution is better than the competition.
- Are there any pains or gains that your product doesn’t address?
- Strategically, are these important for you to compete? If yes then begin to innovate – understand how to create the offer.
- Test your value proposition(s) with your customers.
- Create a value statement that is clear and free of jargon. Avoid gimmicky language. You want your customers to believe and trust you.
Make sure to look at the other templates and resources that I've shared here: Pugo Studio Tools & Resources