In order to gather as much information about customers and to clarify the product idea (the Learn part of the cycle), the Value Proposition Canvas can provide structure and clarity. It helps entrepreneurs be very clear about who a business is for and how it delivers value to them. It is a great tool to figure out why anything is valuable.
The Value Proposition Canvas is composed of the customer profile (circle) and the value map (square).
The customer profile has three sections:
- Jobs: the jobs/tasks the customer wants to get done. Jobs can be functional (get from A to B), social (impressing friends and colleagues), emotional (gaining peace of mind).
- Pains: things that annoy the customer while trying to get the job done (dissatisfaction with existing solutions, challenges, frustrations, risks, obstacles).
- Gains: how the customer measures the success of a job well done. They are positive outcomes the customer wants to achieve with the jobs.
Value map also has three sections:
- Products and services: list the products/services your value proposition builds on
- Pain relievers: how your products help with the customer pains making their lives easier
- Gain creators: how your products produce, increase or maximize the outcomes and benefits you customers expect or would be pleasantly surprised by
The best value proposition maps target the most important customer jobs, pains and gains. The customer profile might contain countless jobs, pains and gains but the value proposition canvas highlights which of them the product you are developing is targeting.