In the third stage of The Innovator’s Method, we are focused on defining our solution. By this we mean defining our solution’s value proposition, which describes how we add value to our clients. After having this, performing an initial validation with potential customers, and mapping the solution functionalities, we are ready to prototype a Minimum Awesome Product, which visually illustrates our solution’s critical features.
What is a Value Proposition and how can you create yours?
A value proposition is a description of what benefits your product brings to your customers and why they are valuable and differentiated. It is, in a nutshell, your unique identifier. It goes deep into the problems you want to solve for people, and what makes you the right one for the job. According to Hubspot, it is one of the most relevant conversion factors since a stronger value proposition leads to higher conversion rates and sales.
A value proposition should include:
Here are a few steps to help create a value proposition for your product:
How does a Service Blueprint dramatically help you map the customer journey with internal processes?
After you draft your value proposition, you should validate it with your audience to see if it actually solves a real problem. If so, you can start working on your solution, namely by creating a Service Blueprint which lists the needs and pain points against the customer journey, overlaying the customer touchpoints and the front/back office people and systems. Once it is fully developed, you will understand how does technology, data, and internal process are related and can be optimized.
There are several key elements in a Service Blueprint:
These key elements are organized into clusters with lines that separate them. There are three primary lines:
What is prototyping?
Prototyping involves producing an early, inexpensive, and scaled down version of the product to understand if there are problems with the current solution and design and to analyze what users think and feel about a product.
By developing prototypes earlier on, not only designers can think about their solutions in a different way but also you can fail quickly and cheaply, so that less time and money is invested in an idea that turns out to be a bad one.
There are usually two categories in prototypes:
Low-fi prototyping is often used during the early stages of a project, while high-fi prototyping is used later on, when we refine the questions and assumptions we need to validate in terms of our solution and fit.
What is the difference between a Mininum Awesome Product and a Mininum Viable Product?
The minimum viable product (MVP) is a product with enough features to address the needs of initial customers as well as something that allows feedback collection for future development. This is a typical illustration of what is an MVP, by Henrik Kniberg: something that will allow your customer to perform some actions with your product by offering some features.
Iteration is at the center of designing a human-oriented solution
To make sure your solution is relevant and addresses your customers’ most critical needs, you need to do one thing: gather feedback, incorporate these learnings into your product and iterate continuously. Perhaps you have to find what tweaks can improve your product, how can you communicate it even better or how your distribution plans can be enhanced to achieve higher efficiency. By doing so, you’ll not only ensure your clients keep using your product but also that you’re adding the maximum value you can by focusing on your customers.
Dare to start you up.