What is the value proposition canvas template?

Understanding what your customers want is central to developing any solution. Without knowing how your product specifically addresses pain points, you won’t be able to effectively communicate why customers need your product. The value proposition canvas helps you articulate all of this by helping you bridge the gap between your product offering and the market/customer needs.

This template framework was developed by Dr. Alexander Osterwalder, a Swiss business theorist who invented the "Business Model Canvas," the strategic management tool to design, test, build, and manage business models. The template was created in partnership with Product School, the global leader in Product Management training and certification, and it is licensed by Strategyzer.

Benefits of using the value proposition canvas template

• Visualize how your product can address customer pain points: Work your way through each pain point and determine how your product is a solution to each one.
• Determine the extent of product offerings: There’s a balance between over- and under-engineering a solution. Finding the correct balance increases the value of your business and products.
• Customize based on your use case: From coffee shops to apps, the template works for essentially any use case.
• Easily share with others for feedback: Share with anyone, anywhere, with the click of a button and collaborate in real-time.

How to use the value proposition canvas template in Lucidspark

1. State the value proposition and tackle the customer segment first. Understand who your customers are and what pain points they have.
2. Identify your products/services and consider how they address customer issues. Assign a solution to every pain point.
3. Consider customer jobs to be done. List customer gains and pains.
4. Identify knowledge gaps, assign tasks, and tag stakeholders within the template.

Check out all six Product School templates:

1. Product strategy canvas
2. Product launch checklist
3. Value proposition canvas
4. Competitor analysis
5. Feature market analysis
6. Objectives and key results