Value Proposition Design

Value Proposition Design opens up a new perspective of what added value in a product consists of, how to find and target your market correctly, how you can design a product successfully, bring it forth to your prospects and have them be excited to buy it, all through the creation of a customer-centric business

In designing a successful product or service, you must first put yourself in the shoes of your customer. Try to figure out a way to solve their daily problems in the most convenient way. Essentially, people have two types of jobs: functional and social jobs. Functional jobs can be buying groceries, whereas a social job is something a person does to impress others.

For a functional job, a person needs reliable items to solve their issues rapidly and conveniently. For a social job, such as creating a trendy, cool outfit, a person needs a different set of products and services. As such, the next step is identifying the customer’s pains, or where they struggle to find solutions for their problems. The first type of customer pain is an unwanted outcome.

When you don’t get what you expected, it can be pretty frustrating, right? Maybe you bought something that you thought would fix your problem, but it didn’t. The second problem implies obstacles faced in the way that prevent you from doing a job. The last customer pain is risk, which happens when a job is not performed. Address these types of customer pains with gains, which are the things a customer hopes to get.

Now you know which are the main customer pains that you can address. It’s time to get to the main part: designing and crafting a product or service to address it. A good product has both a tangible and an intangible part. The tangible part is, obviously, the product itself, whereas the intangible one can be a warranty.

More recently, products come with a digital component as well, such as an app linked to them which improves their functionality. Now that you have these three components in mind, it’s time to think of ways to alleviate your prospect’s pain points with your product. Which component will come in as a solution to their problem, while all others just keep on adding extra value?

You can try to identify exact situations where your product will come in handy. This way, you might also figure out how things can go wrong or where you should improve your product. Think of ways to exceed your customer’s expectations. You also need to assure your support in every step of the process, and even post-purchase.