If you couldn’t tell by now, PMF is very important and a Value Proposition Canvas is helpful to ensure a fit between your product and the market. It works by modeling the relationship between customer segments and value propositions. A customer profile should be created for each customer segment targeted. The components of the value proposition should be ranked from nice to have to essential in terms of value to the customer.
- Customer Jobs are the functional, social, and emotional tasks customers are trying to perform, problems they are trying to solve, and needs they want to satisfy.
- Gains are the benefits the customer expects and needs. These are things that would delight the customer and increase the likelihood of adopting the value proposition.
- Pains are the negative experiences, emotions, and risks the customer experiences in the process of getting the job done.
It is important to demonstrate value as quickly as possible (a-ha moments) and consistently over time. Don’t leave customers to “find” the value on their own. They might miss some value. Remind customers of the value you provide through in-app engagement, highlighting new features, or periodic email updates with their specific usage information. If the value wanes over time, then the customer may stop using the product. Customers should be able to clearly articulate the product’s value, otherwise, they will not be able to refer the product to others.
Remember, you are creating the processes necessary for your business to scale. The size of the business — a lemonade stand, food truck, storefront — is less important than laying the foundation for the next phase of growth.
Part 1 of this series can be found here.
Part 2 of this series can be found here.
