Building an Innovative Value Proposition Based on Customer Pains

Linking your value proposition to your customers’ pains is a surefire way to appeal to your target market.

Before you begin, you’ll need to start the identification process. This starts with an analysis of your customers’ pains, with a focus on the ones you can rectify or address. You should revert your attention back to the actual value proposition once you’ve accomplished this. In this brief video, business model innovator Alexander Osterwalder explains how to build an innovative value proposition during an interview with serial entrepreneur Steve Blank. Maximizing the potential of your value proposition should compliment your business’s growth strategies.

• What else do you need to know about value propositions? This podcast featuring sales strategist Lori Richardson, speaking with OpenView’s managing director Brian Zimmerman, provides some helpful insights on value propositions.
• And this post by OpenView’s Devon McDonald explores some of the benefits of nailing down a value proposition — and there are many, according to the author.

For more from Osterwalder on building an innovative value proposition based on customer pains, watch the full video.