What is Value Proposition Design in a nutshell?
Figuring out your value proposition is more than saying “This is what we do”. It is about getting in the head of your target audience and understanding what keeps them up at night and what they want to achieve above all. It is about proving there is sufficient demand for your concept and creating a healthy business case.
Are you struggling with the following?
Especially with a new product or services, there is a lot at risk and questions. Are you puzzling with the following challenges:
- How can we best bring our new product or service to the market?
- How can I get leads/customers in as soon as possible?
- What if our competitor copies our idea or worst beats us at bringing it to the market?
With so much riding on your successful delivery of the product, how do you reduce the risk? That is where testing and validating a strong value proposition comes in.
1. Get out there for you and talk to real customers. We figure out what their pains are, what they want to gain, and what is their underlying desire. Think about it this way:
- Your customer wants to buy a hammer. But why?
- Because they want to put a nail in the wall. But why?
- Because they want to hang up a photo. But why?
- Because they want the photo to remind them of vacation.
We get to the deepest needs of your target audience to position your product as the best solution to those needs.
2. Define your value proposition per target audience. We align your solution with the most important pains and gains your customer wants and how you can solve them, differently from both indirect and direct competitors.
3. Validate your value proposition. The next step is testing and validating the potential value propositions as quickly as possible with your target audience. We test it in an MVP way so that you don’t waste resources only to find out your value proposition was wrong all along.
4. Get your first traction. After that, it is all about figuring out what drives traction and how to build your growth model.