What is a Value Proposition Canvas, and what are best practices, tools and online templates for teams and organizations?
Definition of Value Proposition Canvas
A Value Proposition Canvas is used to ensure that the product or service being created is centered around customer wants and needs. Specifically, this tool outlines what the customer expects to gain from the product or service, any negative experiences they may have as a consequence of using the product or service and the tasks they hope to accomplish with the product or service. Features listed in each portion of the segment can be arranged from desirable to essential. The Value Proposition Canvas is useful for refining a new product or service innovation to make sure it is well received on the market. A solution is a good fit for the market when its features align with what the customer needs from the product or service.
Description of Value Proposition Canvas
The Value Proposition Canvas is usually shown as a diagram with two separate sections for information.
The right side of the canvas describes the customer profile, listing customer tasks and expectations about the product or service. Additionally, this is where both the benefits and consequences of using the product or service are listed. The point of this side of the Value Proposition Canvas is not to read consumer minds, but rather to understand why they want to complete certain jobs and to think about how to minimize negative experiences and how to exceed expectations.
The left side of the canvas describes the product itself. Here, the pain relievers and gain creators are listed, which respectively describe how the proposed product or service fulfills customer needs and helps facilitate the jobs they need to finish as well as describe the added value that is offered to the customer. Additionally, the various features of different versions of the product can be listed in this segment of the canvas.
Tools & Templates
The Value Proposition Canvas is often developed using a template, typically a poster or PDF. The canvas can also be created and shared in presentations, spreadsheets, and other strategic documents.
upBOARD's Online Value Proposition Canvas Tools & Templates
Unlike most traditional Value Proposition Canvas processes, upBOARD’s online Value Proposition Canvas tools allow any team or organization to instantly begin working with our web templates and input forms. Our digital platform goes far beyond other software tools by including progress dashboards, data integration from existing documents or other SaaS software, elegant intuitive designs, and full access on any desktop or mobile device.
Learn more about upBOARD’s library of other innovation management online best practice tools and templates, including:
70-20-10 Rule, Agile Innovation Process, Brainstorming, Business Case Development, Business Model Canvas, Concept Development, Concept Screening, Concept Testing, Context Canvas, Crossing the Chasm, Crowdsourcing, Customer Empathy Map, Customer Problem Statements, Design Thinking, Disruptive Innovation, Empathy Interviews, Ethnographic Research, Experiment Canvas, Innovation Funnel Management Process, Innovation Horizons Model, Innovation Matrix, Innovation Roadmap, Jobs to be Done, Lean Startup, Listening Hats, Minimum Viable Product, Open Innovation Process, Outcome Driven Innovation, Painstorming, Phases & Gates, Rapid Prototyping, Saturate and Group, SCAMPER, S-Curve Mapping, Stage Gate Process, Startup Innovation Management, Technology Life Cycle, Technology Scouting, Teece’s Win-Lose Innovation Model, Value Proposition Canvas and White Space Innovation.