Value Proposition: A value proposition is a simple statement that summarizes why a customer would choose your service or service. It communicates the clearest benefit that customers receive by giving you their business. Every value proposition should speak to a customer’s challenge and make the case for your company as the problem-solver.
A great value proposition may highlight what makes you different from competitors, but it should always focus on how customers define your value.
The service or service section of the canvas uses the widely accepted marketing syntax of features and benefits with the addition of a box for “experience”.
The service understanding section includes:
Benefits – A benefit is what your service does for the customer. The benefits are the ways that the features make your customer’s life easier by increasing pleasure or decreasing pain. The benefits of your service are the real core of your value proposition. The best way to list out the benefits of your service on the canvas is to imagine all the ways that your service makes your customer’s life better.
Experience – The service experience is the way that using your service makes the customer feel. It’s the sum total of the combined features and benefits. service experience is different from benefits because it’s more about the emotional reasons why people buy your service and what it means for them in their own lives.
The customer section draws on neuro-linguistic programming and psychology research into motivation and choice architecture. It focuses less on “pains” and “gains” because people can be motivated by both pains and gains in different ways.
The Customer Sections Include:
Wants – The emotional drivers of decision-making are things that we want to be, do or have. Our wants are usually conscious thoughts about how we’d like to improve our lives.
Needs – The customer’s needs are the rational things that the customer needs to get done.
Fears – The dark side of making a decision is Fears these can be fear of making a mistake, fear of missing out, fear of loss, and dozens of other related fears. Fears can be a strong driver of purchasing behavior and can be the hidden source of wants and needs. Customer fears are often the secret reason that no one is buying your widget. For any service, there is a secret “pain of switching“. Even if your service is better than the competition, it might not be a big enough improvement to overcome the inertia of switching to the unknown.
Substitutes – In the event that a company does not really have any competitors. The substitutes are what your customer is currently doing, or the other options for example if they are cleaning their cars at home periodically
Here are some things to think about to create your elevator pitch
We help (X) do (Y) by doing (Z).
Profile Needs to be Optimized
- Nice and compelling cover image
What to Post?
- Share your experiences that your target customer can relate to
- Give them info and tips that they can actually implement (don’t be afraid of losing a customer because you gave them too much info)
- Discuss and provide tips to overcome common paint points (These are usually pulled from needs and fears)
- Videos – Tell what you do and bring them value…You are not selling them a service here
- Polls – Tell what you do and bring them value…You are not selling them a service here
Grow Your Network
- Connect to everyone you know, have known, and might know.
- 100 connection limit per week
- No limit to how many can connect to you per week
Engage With Your Network
- Engage, comment, and share with your network in a meaningful way. This does not mean copying and pasting the same comment to every post. Comment, congratulate, and compliment in a meaningful way daily. Get your network familiar with you, this will encourage them to engage with you.
- Consistency, Consistency, Consistency
- Set an achievable goal for yourself to post daily, biweekly, and weekly and stick to it.