Value Proposition Canvas
The rational needs of our customer (both conscious and latent). The Needs speak more to the pull of our heads.Wants. The emotional needs of our customer. The Wants speak more to the pull of our hearts.Benefits. What job does our product do for the customer? What problemof the customer does it solve? How does it decrease pain? How does itcreate gain?Experience. What will the customer feel when using our product? What will be the emotional drivers for buying our product?Costs. How much will the customer pay for our product? What other costswill the customer incur when switching to our product? How hard will it be for the customer to switch (time, labor costs)?Fears. What will the customer be afraid of? What other emotional reasons might prevent the customer from buying?
How is the canvas structured?
Customer. Everything that pertains to the customer – his needs, his problems, his emotions.Product. Everything about your solution – what it does for the customer, how it makes him feel.Switching. Everything that stops the customer from using your product – price, swithing costs, customer fears.
Rational. All that can be calculated, planned, predicted.Emotional. All that is impulsive and sometimes irrational.
How to work with the canvas?
You should fill one canvas for each combination of one customer segment, one value proposition and one substitute. You can try to combine them, but if you feel that it becomes messy, try to make a separate canvas for each combination to achieve more clarity.
Start with the Customer, his Needs and Wants.
Then go from left to right – to your Product, how it solves the problems of the customer and makes him feel. The Benefits should relate to the Needs, and the Experience to the Wants.
Finally – Switching. Is your solution so good that the customer will switch to it? Are the switching costs to high and the fears unaddressed?And then – back to the Product.
What will you change in your Product to better accomodate Customer Needs and Wants and to address his Switching Costs and Fears?