““Do not focus on money, instead focus on a problem that needs to be solved for the world….money will follow you as a bi-product.”
The news tells us, social media tells us, numerous webinars tell us – the world has changed, and they’re right. But, how do you make sense of that change, for your business, your customers and your market? And how do you create insight and offerings which solve your customers’ problems and in doing so, make sure that you are relevant and valuable in this new world?
In this blog, which forms the 2nd part of a 3 part series on Marketing & Innovating in the Crisis, I’ll propose structured approach for:
I’m not going to ask, what does your customer want? I’m going to consider, what does your customer need & value?
To do this, I’ve used the Value Proposition Canvas model, created by Alex Osterwalder.
For the moment let’s focus on the left hand side of the canvas, which consists of Customer Job, Gains and Pains.
There are 3 types of customer jobs – functional, social and emotional. Let’s take a quick look at a real world example, buying a luxury watch.
We then consider pains and gains, asking if these have changed in current times. In the above scenario some pains which are connected to current times could be:
The innovators amongst you are probably already thinking of smart ways to address these challenges. I’ll come to that later, for now here is my first suggestion:
Using the Value Proposition Canvas shown above make some time to map your customers world:
So, you’ll need to blend multiple data sources to get the best picture, here’s a few ideas:
Some possible questions:
Take a similar approach to harvest the knowledge from your sales teams, review your web analytics, what’s popular, what’s not, has anything changed? Then blend these insights with big picture insights such as google trends and industry news to gain a picture of your market.
Armed with this data, get a couple of your best people and make a stab at defining and prioritising those customer jobs, pains and gains.
Look carefully, are there any jobs, pains or gains which match these criteria?
If you answer yes to the above questions – well done – you’ve the key foundations of success – great insight. If not don’t worry – you almost certainly have found some insights which can create value.
Once you’ve done this, map your offer against the customer, job, pains and gains as shown in Alex Osterwalder’s model below
You now need to ask two questions:
Let’s consider these questions in reference to our luxury watch example.
As you can see from the points above, by giving real focus to the customer’s world we find new insights which can be the catalyst for new ideas and creativity.
Once you’ve captured these insights and generated offering and messaging ideas, consider mapping your messages at each stage of the buying journey:
I’ve proposed the following actions:
By relentlessly focusing on the needs of your customers you’ll be able to serve them better and reflect your authentic interest in their needs in your messaging. By doing so you’ll earn trust, solve their problems and create a stable foundation for your business resilience and future growth.
During this process it’s possible that you may have come up with a great value proposition for an entirely new product or service idea, if so, well done, this is exciting.
In my next blog I’ll talk about how you test and prove (or disprove) that idea quickly and cost effectively and find out if it’s a winner which can unlock new sources of growth for your business.
In the meantime, I’d love to learn more about you and your offer so do drop me a line at firstname.lastname@example.org and we can schedule a chat.
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