Creating a Value Proposition Canvas

What is a value proposition canvas?

A value proposition canvas template will help you position the products and services you offer to match the framework of what your customer pains and clients need.

While you probably want everyone to become a customer, that is simply not possible. If you try to make a customer out of everyone, you will not target anyone. As a result, you may have a difficult time moving your target market down the customer journey.

As a result, you need to think carefully about how you put together your value propositions map, the different gains and pains you want to highlight, and how you can make sure your products meet the needs of your customers and clients.

How can a value proposition canvas help you

There are several reasons why you need to use a value proposition canvas as a part of your market research. Some of the biggest advantages of using a value propositions design include:

Direction

As you put together your products and services, you need to make sure you have some sort of focus and direction. Even though you might be excited to see where your products go, you need to make sure you do not advance in the wrong direction.

If you use a value proposition canvas as a part of your customer journey builder, you can make sure that your products and services meet the needs of your customers and clients.

Customer engagement

Even though you might have the best products and services in the world, you will have a difficult time selling them if you cannot effectively engage with your customers.

With access to a value proposition canvas, you can create a bridge between your product and your clients’ needs. You can transition back and forth, making sure that you address the core factors that your audience requires.

Effective marketing

If you want to convince people to purchase your products and services, you need to build customer relationships. A value proposition canvas will help your marketing become more effective.

People who are interested in your products and services must understand why it is worth their money. With access to a value proposition canvas, you can customize your marketing message to meet the needs of your audience.

Ultimately, these are just a few of the many reasons why you should use your value proposition canvas to meet the needs or what your customers expect. At the same time, there are a few drawbacks you might encounter as well.

Drawbacks of the value proposition framework

There are a few potential drawbacks you need to keep in mind as well. A few potential drawbacks of the value propositions framework include:
You might not have enough distinction between the customer profile and the value map. As a result, you might have a difficult time customizing your products and services to meet the needs of a specific target market. If your components tend to blur together, your value proposition canvas might not be as effective as you would like. There might also be a situation where you overload one of the customer segments. If you think your products and services are attractive to different types of customers, you will need to fill out a separate canvas for each category. This can be a lot of work, and you might not have the time or energy to do so. The value of this canvas depends on you filling it out properly. When you fill one out for the first time, you might not get the results you are looking for. Therefore, you need to fill out your value proposition canvas effectively. Otherwise, you might have a difficult time leveraging the information to meet the needs of your target market.

Think carefully about the benefits and drawbacks of a value proposition framework before you decide to move forward.

Value proposition canvas explained

As you try to get the most out of your value proposition canvas, you need to make sure you fill it out properly. Some of the components include:

Customer profile

The first portion is going to be your customer profile. Some of the customer segments that you will need to fill out include customer jobs, customer pains, and customer gains.

Customer Jobs

In the customer jobs section, you are going to include different problems or tasks that your customers have to deal with. You need to think about the customer from a functional, social, and emotional perspective. What are some of the issues that you are going to try to address with the products and services that you offer?

Customer Pains

Now, it is time for you to identify the different pain points that you can address with the products and services that you provided. What are some of the negative experiences that your target market is dealing with? How can your products and services address them?

Customer Gains

Next, you need to identify certain aspects that make your target market happy. They do not necessarily need to be the converse of the pains above, but it is possible that they might be. What are some types of things that make your target market happy?

With an effective customer profile, you can figure out how you can meet the needs of your target market.

Value proposition map

The other portion of the value proposition canvas is the square. Essentially, this is a value proposition map. Now, it is time for you to focus on your product instead of on your target market. Some of the components you will need to address include:

Products and services

This is where you will mention the product itself; however, if there are different versions of the product, this is the time to fill them in.

For example, you might have a premium level of your product or service that needs to be filled in. Focus on what you offer that can be applied to the jobs your customers have.

Pain relief

This portion of your value proposition canvas will address the ability of your product to target the pain points of your customers. You do not necessarily need to dive into great detail, but you do need to mention the pain points that your product is going to target.

Gain creators

This portion is going to be a mirror of the pain relief area above. It should explain any extra value that your product might have, and it should define why that value is important to your customers.

Your circle and square should work well in conjunction with one another. That way, you can seamlessly transition from your product to your target market, making sure that everything lines up.

Fit or mismatch?

The entire goal of your value map is to make sure there is a fit between the needs of your target customers and the products and services that you offer.

When you fill out your customer profile, you may include a lot of information about gains, pains, and jobs; however, your value map should clearly define which of those areas you are going to focus on.

As you go through the process, you need to make sure that your value proposition map is a match for your customer profile. The closer the match is, the greater the probability that your product will be successful.

If you feel like there is a mismatch between your products and services and your customer profile, then it might be time for you to alter your target market or the product you provide. You might need to go through this process several times until you get it right. Furthermore, do not hesitate to reach out to a professional who can give you another perspective.

Gain insights into the customer experience

Ultimately, the business world is more competitive than it has ever been in the past. If you want to put yourself in a position to be successful, you need to think carefully about your customer care.

That means making sure that there is a match between your customer profile and your value proposition map. Sometimes, companies have a difficult time figuring out what their customers are thinking, and that is where it can be helpful to collect some customer feedback.

There are important tools that can help you get your products and services in front of your target market. For example, you might want to take advantage of tools provided by Mailchimp that can help you with keyword research.

Or, you might be looking for tools that can help you run an effective email marketing campaign. No matter how great your products and services are, they are not going to be that effective unless you can get them in front of your target market. Make sure you put the right tools to work for you.