Value Proposition Canvas
The Value Proposition Canvas is a tool which can help ensure that a product or service is positioned around what the customer values and needs. It was initially developed by Dr Alexander Osterwalder.
Why do I need this?
Because before you invest in more time and resources to development, you need to make sure you will be able to create value for the customer. The canvas itself provides a structured and visual document to achieve this objective. It's the market research and data, stakeholder disucssions and most importanty the interviews with potential customers that helps you to understand what creates value for the customer.
Who should be involved?
It's best to involve all the stakeholders but to be able to run an efficient workshop less than 10 would be ideal. People who have interviewed the users, collected market data etc. should be present to share the key findings. The key decision makers, domain experts and people with close contact to customers (sales and support) should be there as well if possible.
What does it look like?
Here is an empty Value Proposition Canvas :
And here is one filled for Hilti's online fleet management system :
You can watch this Youtube video for the story behind.
All stakeholders but preferably less than 10
Key findings from the market research and user interviews should be put into a brief presentation format to be presented at the beginning of the workshop. Inviting the right group of people is important as always.