Value Proposition Canvas

Value Proposition Canvas, developed by Alex Osterwalder is one of the best tools to understand your customer’s desires. It’s the magic fit between what you make and why people buy it. Your value proposition is the crunch point between business strategy and brand strategy.

   

A “value proposition canvas” is a chart that maps the key things that make up your product and why people buy it. There are many different value proposition canvases. Some are proprietary, some are open source, and some are creative commons. Any canvas that helps you understand your customer, your offer and how the two fits together will help you clarify your value proposition.

 

Customer pains revolve around undesired outcomes, obstacles, and risks that can be faced. Customer gains can be classified into required gains, expected gains, desired gains and unexpected gains. Care must be taken to identify the importance of customer jobs, level of severity of pains and relevance of gains obtained.

   

How to make use of Value Proposition Canvas:

   

What jobs is the customer trying to get done?

Jobs represent the tasks the customer wants to get done. Essentially, it is about the needs and requirements of the customer and his demands. Furthermore, there might be several ‘jobs’ at the same time as functional jobs, emotional jobs, etc.

   

Pain of the Customer

By pain is meant what the customer finds annoying or what hinders/slows down him from achieving his goals. Not all pains are perceived as equally important.

   

Gain of the Customer

The gain is the positive outcome the customer envisages. It is about what the customer expects and what would delight him.

   

Fit – Pain Relievers and Gain Creators 

It is quite imperative that there is a fit between the pain and the pain relievers and the gain and the gain creators to create customer-centric products. By doing this, the chances of failure are minimized, and something will be developed that will eventually help the customer.

   

We at FanTaskTick help brands increase sales and conversions by focussing on improving the customer experience of their websites and mobile applications.