For every business, no matter what industry, size, online or offline, you have a specific customer base. There are many companies that advertise “customer first”, “create values for customers”, etc., but what exactly are they achieving? Do they really understand what values their product is creating for customers?

Many people misunderstood that the more functions of their product offered, the better values provided to customers. Many companies’ promotional leaflets often highlight new features available, yet miss out the connection with customers and pain points they can solve for customers. From the customers’ perspectives, there is no so-called “customer value” brought along with those new features.

To analyze “Customer Value”, “Value Proposition Canvas” is a good tool to use.

The Value Proposition Canvas is divided into two main parts:

• Customer Profile at the circular part on the right-handed side
• Value Map at the square part on the left-handed side

The Customer Profile (circular part) can be further subdivided into:

(1) Customer Jobs
Customer Jobs refers to daily works or tasks that customers have to accomplish, such as booking a flight, washing a car, picking up child, replying to an email, etc.

(2) Pain points
Pain points refer to obstacles for customers to complete those tasks, such as: frequent traffic jams on the road, worry about not being able to get air tickets with discount, worry about side effects of drugs, etc.

(3) Gains
Gains are positive outcomes that conform to the clients’ interests. It can be meeting the customers’ needs or excess expectations.

On the other hand, the Value Map (the square part) can also be subdivided into:

(1) Products & Services
Products and services are the carriers of the values that an enterprise provides to customers, which can be tangible (eg, bread, earphones) or intangible (eg, symphony performance, express delivery).

(2) Pain Relievers
Pain Relievers refer to the elimination or relief of customers’ pain points, such as free replacement service, unconditional refund within 7 days, instant notices of discounted items.

(3) Gain Creators
Gain Creators refer to helping customers create values and achieve positive results, such as providing instant 3D stereoscopic images, completing transactions in less than 1 minute, and providing manicure services in restaurant queues.

We can use Airbnb’s Value Proposition Canvas as an example:

In fact, the left and right sides are co-related. As long as you are able to notice and write down the tasks that customers need to complete, the pain points that appear in the execution of the tasks, and the gains they are longing for, you can easily write down the Value Map on the left. Once your business identifies the Value Map, you can unlock the treasure trove of “customer values”.

After you identify what values you can create for your customers, you can make good use of them by actively promoting these values to your potential customers, and try to attract them to come to buy your products. This is the essence of marketing.

Here are some useful tips for you:

1. When designing products and services, do not focus too much on their functions, but on the value that customers need.
2. Focus on the goals and tasks that customers have not achieved yet; the pain points that have not been eliminated; the gains that have not yet been realized; these are the “unique values” you can provide.
3. Identify your business’ Value Map, while also taking into consideration the values and costs. It’s best to find low-cost and high-value ways of doing business.