Now that you’ve learnt how to create a Customer Profile, we will be covering how to create a Value Map in order to better understand the Value Proposition Canvas.
What is a value map?
The Value Map describes the features of a specific value proposition in your business model in a more structured and detailed way. It is composed of:
– Products and Services
– Pain Relievers
– Gain Creators
It is simply a list of what you offer: all the products and services that build your value proposition.
Products and Services may be:
– Physical/Tangible (ex: manufactured products)
– Intangible (ex: copyrights, services)
– Digital (ex: music download)
– Financial (ex: insurances)
Pain relievers
Pain Relievers describe how exactly your products and services alleviate specific customer pains.
Great value propositions focus on the most extreme pains that matter to customers. Pain Relievers may be (for example):
– Produce savings
– Make customers feel better
– Eliminate risk
– Eliminate obstacles
– Make things easier
Gain creators
Gain Creators describe how your products and services create customer gains.
Great value propositions focus on the most relevant gains identified in the customer profile. Gain Creators may be (for example):
– Produce unexpected outcomes
– Outperform current customers’ solutions
– Create positive social consequences
– Fulfill customers’ dream
– Make your customers’ work or life easier
Congratulations! You have just created you first Value Map!
1) List products and services
2) Outline pain relievers
3) Outline gain creators
4) Rank by order of importance
Note: Don’t forget to rank your products and services, pain relievers and gain creators according to how essential they are to customers.
Fitting Customer Profile and Value Map
It is not over yet. Now you have both your customer profile and your value map. They need to fit!
And it’s usually not easy!
With your Value Map and you Customer Profile, study one by one your pain relievers and gain creators.
Identify the ones that really fit a customer job, pain or gain.
Don’t worry if you don’t satisfy all the pains and gains, because you can’t satisfy them all.
