The Value Proposition Canvas creates the value customers really want. Learn more about how to apply this innovation canvas.
“Do you want to be sure your planned new products are truly what your customers desire? Before you actually start investing money?” This question I asked the Business Development Director of a large insurance company. The look in his eyes suggested he either thought I was stating the obvious. Or, worse, I was implying the impossible. Several weeks later we showed him how easy it can be. To kick-start the innovation process we used the Value Proposition Canvas [VPC].
We sat down with a multidisciplinary team. The VPC was the centre of the session and helped us to analyze a specific value proposition of a large insurance company. This canvas helps to understand the customer and find a solution that fits the customer. While analyzing the current proposition we found out there was no problem-solution fit.
In other words. This is a simple way to understand your customer needs, and design products and services they actually want.
Spoiler alert: filling in this canvas does not guarantee a successful product, but it can avoid a whole load of unnecessary risks.
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