Post by wsannhbz on Dec 5, 2023 9:59:43 GMT
once that problem is out there and solutions are emerging, say you find two alternatives, which one should the customer choose? Why does solution A solve the customer’s problem better than solution B? Looking at the solution in this way helps to identify the real problem.
Step 3. Define the value proposition. The value proposition can be boiled down to the benefits a customer receives by using your product or services. According to Dan Olsen, at this stage, you should answer the question, “What will you do better than your competitors, and what will differentiate you in the marketplace?” and then list these benefits.
Next, you should rank them according to three categories: performance (better, faster, stronger), must-have (quality factor, everyone has it, like seat belts in a car), and wow effect (which benefit will delight the customer). Do the same with your competitors – make a list. And then think about in which areas you are better than your competitors – that is your value proposition.
Step 4. Identify the set of features an MVP must have. An Phone Number MVP is the most basic version of a product or service. It contains only the basic features that make the product work. It’s not refined, it does not look pretty, it just works. What does your MVP need to do to deliver value to the market? Again, make a list, this time of features. The fewer, the better – it will be cheaper and faster to produce an MVP.
Step 5. Create an MVP. Based on the set of features you defined in the previous step, it’s time to create an MVP. For example, this could be a simple mobile app interface created with a few no-code tools or mockups. You’ll see how simple an MVP can be later in the text – we’ll get there.
Step 6. Test an MVP. At this stage, you should show customers a prototype of your product or service. It is best to do this in a way that will allow them to buy what you have to offer.
For products, a fake door test – a landing page with the “buy” button – will be a good solution. It should look real and encourage the customer to make a purchase. However, when the customer clicks “buy”, they are informed that the product is not yet available for sale and are asked to leave their email address. In this way, you will build a mailing list that you can use for your marketing and sales campaign once you actually have the product.
Step 3. Define the value proposition. The value proposition can be boiled down to the benefits a customer receives by using your product or services. According to Dan Olsen, at this stage, you should answer the question, “What will you do better than your competitors, and what will differentiate you in the marketplace?” and then list these benefits.
Next, you should rank them according to three categories: performance (better, faster, stronger), must-have (quality factor, everyone has it, like seat belts in a car), and wow effect (which benefit will delight the customer). Do the same with your competitors – make a list. And then think about in which areas you are better than your competitors – that is your value proposition.
Step 4. Identify the set of features an MVP must have. An Phone Number MVP is the most basic version of a product or service. It contains only the basic features that make the product work. It’s not refined, it does not look pretty, it just works. What does your MVP need to do to deliver value to the market? Again, make a list, this time of features. The fewer, the better – it will be cheaper and faster to produce an MVP.
Step 5. Create an MVP. Based on the set of features you defined in the previous step, it’s time to create an MVP. For example, this could be a simple mobile app interface created with a few no-code tools or mockups. You’ll see how simple an MVP can be later in the text – we’ll get there.
Step 6. Test an MVP. At this stage, you should show customers a prototype of your product or service. It is best to do this in a way that will allow them to buy what you have to offer.
For products, a fake door test – a landing page with the “buy” button – will be a good solution. It should look real and encourage the customer to make a purchase. However, when the customer clicks “buy”, they are informed that the product is not yet available for sale and are asked to leave their email address. In this way, you will build a mailing list that you can use for your marketing and sales campaign once you actually have the product.