Webinar: How to design value propositions

by | May 31, 2022

How to design value propositions? Learn about the process, customer map, and how they can help you achieve your goals.

Often, businesses fail to create a good value proposition. They don’t highlight it on their website or simply use the wrong one.

In fact, some businesses don’t even have a value proposition. In this way, they often don’t know how to overcome challenges in business development.

But, a value proposition is one of the most important things you can have as a business development professional. If you design a good one, it will spark an interest in people. If, on the other hand, you don’t have one, people won’t see the value that your business can bring to their lives.

To learn more about this, we organized a webinar. The speaker of the webinar is the founder of The BD School, Lucia. She’s worked for over 13 years in business development and knows what it takes to succeed as a business development pro.

You can watch the webinar by joining our platform!

Key takeaways from the value proposition webinar:

In the webinar, Lucia shared many tips and strategies that you can use to design value propositions. Here are the main takeaways.

What is a value proposition?

One of the main things you have to keep in mind is to stand out from your competitors. To do that, you need to have a unique value proposition.

In short, a value proposition is a value a company promises to deliver to customers should they choose to buy their products. Usually, you’ll find value propositions on the landing page of a company’s website but not only.

So, think about what you can offer to your customers. Why should they buy from you?

To understand better how a value proposition works, it’s worth looking at real-life examples. Think of Netflix. The value proposition of Netflix is that it offers unlimited films, TV programs, and 24/7 access to entertainment that you can watch from anywhere.

Another case to look at is Nike. Nike offers accessibility, innovation, customization, and status through its products. For example, Nike By You allows customers to personalize Nike merchandise. 

Hubspot’s value proposition is that it’s an easy-to-use customer relationship management (CRM) platform. And it offers many different features.

These examples show that attractive value propositions help brands secure more customers, but also stand out from the competition.

So, value propositions are very important. They can help you close a deal. They can determine whether you secure new deals or end up losing them.

Design value propositions: Customer map

Now that you’re more familiar with what a value proposition is, it’s important to know how to design value propositions.

So, what does the process looks like? 

First, it’s important to know our customers. Then, think about the Job To Be Done (JTBD). Last, the pains and gains of customers.

To know our customers, you have to do customer research. This is a practice of identifying the preferences, attitudes, motivations, and buying behaviors of the targeted customer. 

To do this, you can use netnography or analyze job descriptions for example. The goal is to understand the customer’s personality, interests, and learning habits.

The second tip is to have a framework that describes what people are trying to achieve in a given situation. This is known as JTBD. 

Here, focus on functional jobs, social jobs, or emotional jobs. What this means is to define responsibilities, understand the reasons why we’re doing this job, and the emotional implications.

Third, figure out the pains of your customers. So, the problems your customers are currently facing in the marketplace. Some common problems include not finding enough information. Or not knowing which tools to use. To tackle this, think about their negative experiences, emotions, and risks associated.

Last, consider the gains. These are the benefits customers expect or need. Understand what delights them, and the social, functional, and financial gains. A useful example is buying a Macbook. You buy it because it’s functional and lasts longer. 

Importantly, remember that gains are not opposite to pains. In fact, gains are about adding extra value to what you already have.

Design value propositions: Your company

Now that you have more data on your customers, think about how you can use it for your products and services. 

Think about what you’re offering, and if they’re gain creators or pain relievers. Define how your products and services relieve pain or create gain for customers.

The next thing to do is to create your value proposition. Then, continue by creating statements. Statements should be about each pain point. But also, create statements for each gain.

Once you’ve created your value proposition, it’s important to find your Key Performance Indicators (KPIs) and set targets. You can use your value proposition in your calls or in-person and virtual meetings. Or when you write emails and create social media content.

Do you want to learn how to design value propositions and use them in your work?

Then, join our personalized learning platform and elevate your business development career!

How to design value propositions? Learn about the process, customer map, and how they can help you achieve your goals.

Often, businesses fail to create a good value proposition. They don’t highlight it on their website or simply use the wrong one.

In fact, some businesses don’t even have a value proposition. In this way, they often don’t know how to overcome challenges in business development.

But, a value proposition is one of the most important things you can have as a business development professional. If you design a good one, it will spark an interest in people. If, on the other hand, you don’t have one, people won’t see the value that your business can bring to their lives.

To learn more about this, we organized a webinar. The speaker of the webinar is the founder of The BD School, Lucia. She’s worked for over 13 years in business development and knows what it takes to succeed as a business development pro.

You can watch the webinar by joining our platform!

Key takeaways from the value proposition webinar:

In the webinar, Lucia shared many tips and strategies that you can use to design value propositions. Here are the main takeaways.

What is a value proposition?

One of the main things you have to keep in mind is to stand out from your competitors. To do that, you need to have a unique value proposition.

In short, a value proposition is a value a company promises to deliver to customers should they choose to buy their products. Usually, you’ll find value propositions on the landing page of a company’s website but not only.

So, think about what you can offer to your customers. Why should they buy from you?

To understand better how a value proposition works, it’s worth looking at real-life examples. Think of Netflix. The value proposition of Netflix is that it offers unlimited films, TV programs, and 24/7 access to entertainment that you can watch from anywhere.

Another case to look at is Nike. Nike offers accessibility, innovation, customization, and status through its products. For example, Nike By You allows customers to personalize Nike merchandise.

Hubspot’s value proposition is that it’s an easy-to-use customer relationship management (CRM) platform. And it offers many different features.

These examples show that attractive value propositions help brands secure more customers, but also stand out from the competition.

So, value propositions are very important. They can help you close a deal. They can determine whether you secure new deals or end up losing them.

Design value propositions: Customer map

Now that you’re more familiar with what a value proposition is, it’s important to know how to design value propositions.

So, what does the process looks like?

First, it’s important to know our customers. Then, think about the Job To Be Done (JTBD). Last, the pains and gains of customers.

To know our customers, you have to do customer research. This is a practice of identifying the preferences, attitudes, motivations, and buying behaviors of the targeted customer.

To do this, you can use netnography or analyze job descriptions for example. The goal is to understand the customer’s personality, interests, and learning habits.

The second tip is to have a framework that describes what people are trying to achieve in a given situation. This is known as JTBD.

Here, focus on functional jobs, social jobs, or emotional jobs. What this means is to define responsibilities, understand the reasons why we’re doing this job, and the emotional implications.

Third, figure out the pains of your customers. So, the problems your customers are currently facing in the marketplace. Some common problems include not finding enough information. Or not knowing which tools to use. To tackle this, think about their negative experiences, emotions, and risks associated.

Last, consider the gains. These are the benefits customers expect or need. Understand what delights them, and the social, functional, and financial gains. A useful example is buying a Macbook. You buy it because it’s functional and lasts longer.

Importantly, remember that gains are not opposite to pains. In fact, gains are about adding extra value to what you already have.

Design value propositions: Your company

Now that you have more data on your customers, think about how you can use it for your products and services.

Think about what you’re offering, and if they’re gain creators or pain relievers. Define how your products and services relieve pain or create gain for customers.

The next thing to do is to create your value proposition. Then, continue by creating statements. Statements should be about each pain point. But also, create statements for each gain.

Once you’ve created your value proposition, it’s important to find your Key Performance Indicators (KPIs) and set targets. You can use your value proposition in your calls or in-person and virtual meetings. Or when you write emails and create social media content.

Do you want to learn how to design value propositions and use them in your work?

Then, join our personalized learning platform and elevate your business development career!

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Author

Egzon Syla

Content Writer at The BD School

I’m a passionate storyteller who believes in the power of the written word. I like creating content that is relatable, honest and original to help you become a more successful business development pro.

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