How do you test your value proposition with customers before launching a new product?

?? In my opinion, defining the right target customers is foundational for any product launch. Without this, testing a value proposition becomes almost meaningless. ?? Market Segmentation Understanding market segments helps tailor the approach, ensuring the value proposition meets specific customer needs. ?? Early Adopters Early adopters are crucial for feedback. They refine the product and pinpoint key areas for improvement. ?? Tools and Techniques Personas and empathy maps are vital. They bring the customer profile to life, aiding in a customer-focused value proposition. ?? Identifying target customers ensures relevant product testing, speeding up product-market fit and minimizing launch phase missteps.

Two of the most frequent mistakes I've seen when testing new propositions are 1) not having a valid control group, and 2) testing a new-to-the-world product in the same way you would a simple line extension. People tend to react more favorably to product concepts than they ever would to real products. In a testing environment, they don't get easily distracted, don't consider totally different ways to get the job done, and often want to please the interviewer. So have a control concept that might be already in-market, as a comparator. Separately, people tend to dislike new-to-the-world concepts in tests because there's little context, and they have to imagine too much. Make the concept as real as possible, and set the scene vividly.

Remember, your value proposition needs to make sense for your customer's needs and also clearly communicate how your product or service stands out in terms of effectiveness, convenience, or cost-effectiveness, providing a unique and valuable solution. This distinction is crucial for gaining the trust and loyalty of customers in a competitive market.

Ohne genaue Kenntnis über den Zielkunden, gibt es auch kein Werteversprechen. Daher ist die Kenntnis über die Zielgruppe erfolgsentscheidend. Wer ist der Kunde? Welches Problem hat diese Zielgruppe? Was bereitet schlaflose N?chte? Was sind deren gro?en Wünsche und Tr?ume? Entsprechend kann die Zielgruppe n?her beschrieben werden. Personas, Empathy Maps eignen sich hier in Kombination mit dem Adoption Model von Everett Rogers, der Early Adopters, Innovatoren, Sp?te Folger... So empfehle ich Personas und Empathy Maps für jeden dieser Typen zu erstellen und entsprechend das Werteversprechen abzuleiten. Das kann dann entsprechend getestet werden und Feedback eingeholt werden.

In addition to personas, a tool that I really like to use is the value proposition canvas as it aims to collect the user's tasks, pains & gains, and translate them into pain relievers, gain creators and a concrete proposition. It allows to act as a link between definition and ideation.

When I start working on an innovation project, before taking action, I try to dedicate time to examine the assumptions that underlie the innovation process. The questions I always ask myself are these: Who will use your product, service, or other? What will they use it for? When and where will they use it? What will be the most important functionality? What is the biggest risk? How will the improvement impact other people involved in the production context? An error I try not to make is to forget that often: - The best assumptions are hidden or not formulated. - Assumptions can be true or not. - Team members may have conflicting ideas about the formulated assumptions.

Ensure that your hypotheses will give you clear answers, but also allow for open feedback and tangential conversation which might lead to unexpected but useful comments. You want to be able to test your ideas, but also be as open as possible to other ideas!

Testing your value proposition is a strategic art. Begin by crafting hypotheses, and take steps to clear the assumptions you have about your product and customers. Here's a fill-in framework to get you started: "We believe that [your innovative concept] can [solve a specific problem] for [target audience], resulting in [desired outcome]. We will test this by [testing method]. Our metric of success is [what you will measure]".

Formulating hypotheses before launching a new product helps businesses focus on problems and opportunities, define assumptions, steer away from potential pitfalls, promoting smoother product development and iteration. ??? By identifying potential challenges before a full-scale launch, businesses can develop mitigation strategies, ensuring a more resilient and adaptable approach. ?? Understanding and testing assumptions about customers ensure that the value proposition resonates with the target audience. ?? Hypotheses facilitate an iterative improvement process. This iterative approach ensures that the final offering is finely tuned to customer needs, increasing its overall appeal and market competitiveness!!

Design A/B tests and experiments aligned with your formulated hypotheses to gather quantifiable data. By creating controlled scenarios, you can measure customer responses and interactions with different aspects of your value proposition.

Incorporate customer interviews as a qualitative experiment to gain in-depth insights into customer perceptions and preferences. Structured interviews can help uncover valuable information about their needs, pain points, and reactions to your value proposition. Design interview scripts and questions that directly address the key hypotheses you aim to validate.

?? Design Your Experiments With hypotheses in place, the next step is to design experiments to test them. Experiments gather evidence from customers to validate or invalidate your assumptions. Choose methods like interviews, surveys, landing pages, prototypes, or MVPs based on your development stage and learning goals. Tools like the Experiment Canvas or Test Card can help you plan these experiments, defining clear metrics and success criteria. This structured approach ensures you gather actionable insights to refine your value proposition.

When you're working on ideas and initiatives, it's crucial to regularly try stuff out. This gives you real proof to share and discuss with your organisation but it also brings energy and engagement to your team. When setting up experiments, think about what you're trying to prove, your goals, and the story you want to tell. For example, if you want quick validation for a new idea, a well-made landing page can do the trick. On the flip side, if you already have a product and want to know how to make it better, talking to users through interviews and focus groups might be the way to go. Taking these steps not only helps you get insights but also gives you the context to handle conversations with your stakeholders and get the support you need.

Designing experiments tailored to test your hypotheses is critical. Experimentation methods may vary based on your product's development stage and learning objectives. Consider interviews, surveys, landing pages, prototypes, or minimum viable products (MVPs). Tools like experiment boards or test cards can aid in planning experiments and defining metrics and success criteria.

Conducting an experiment means that you need to find willing "candidates" to experience with. Given that time is limited and precious for everyone, you need to offer some incentives. Why should your customers or stakeholders participate in your experiment? What will they gain in turn?

When designing my research approach, I like cover both conversational and tactical feedback. Open ended conversations will help validate that you're targeting the right customers and providing the right value propositions. After that, you will need to validate if your solution actually provides the value the customer is looking for through a tactical interview component (ex. guided demo).

Be sure to ask your target customer "Do you like my idea?" or "Would you buy it?" ...if you want to completely mess up your experiment.

When it comes to execution, consistency and ethics are paramount. One time at work, I learned the hard way that collecting data without clear processes can lead to unreliable results. To gather meaningful data, you need to recruit your target customers and make sure you’re following ethical guidelines like consent and privacy protection. I’ve also found that offering incentives encourages participation, but it’s just as important to avoid introducing biases. Conduct your experiments in a methodical, reliable manner to ensure the results accurately reflect the reality of your customers' experiences.

Executing experiments and gathering data from your customers is essential. Recruit your target customers from existing networks, online platforms, or other sources and invite them to participate in your experiments. Ensure compliance with ethical and legal guidelines, such as obtaining consent and protecting privacy. Conduct experiments reliably and consistently, avoiding biases and errors.

?? Execute Your Experiments Once your experiments are designed, it's time to execute them and gather data. Recruit target customers through your network, online platforms, or other channels, ensuring you follow ethical guidelines like obtaining consent and protecting privacy. Conduct experiments consistently to minimize biases and errors and offer incentives to encourage participation. Reliable execution is crucial for obtaining valid insights and making informed decisions about your value proposition.

?? Analyze Your Results After executing your experiments, analyze the results to see if they validate or challenge your hypotheses. Use both quantitative and qualitative methods—like statistics, charts, themes, and quotes—to interpret data and uncover patterns. Document and share your findings with your team and stakeholders to ensure informed decision-making and refinement of your value proposition.

When designing my research approach, I like cover both conversational and tactical feedback. Open ended conversations will help validate that you're targeting the right customers and providing the right value propositions. After that, you will need to validate if your solution actually provides the value the customer is looking for through a tactical interview component (ex. guided demo).

After testing your new product idea with customers, closely examine what they say and how they react. Use both numbers (like how many bought it) and customer comments to see what's working and what's not. If something isn't hitting the mark, don't be too proud to change it. You should try a few different versions to get it right. Keep your team and everyone involved updated about what you're learning and how you're tweaking the product. This way, you'll end up with something customers like and want to buy.

I've found quantitative and behavioral data to be invaluable. We lean heavily on metrics like engagement rates, click-throughs, and time on site. These numbers provide a clear, unbiased picture of consumer interest. For instance, a high click-through rate on a 'fake' feature in a painted door test can be a strong indicator of market demand. However, it's crucial not to get lost in the numbers. We pair this data with behavioral analysis – how users navigate our prototypes, where they linger, what they ignore. This combination gives us a nuanced understanding of our value proposition's potential impact, guiding our product development with precision.

Thoroughly analyzing experiment results and drawing conclusions is paramount. Compare your data with hypotheses and metrics to assess their support or contradiction. Utilize quantitative and qualitative methods like statistics, graphs, themes, and quotes to interpret data and identify patterns and insights. Document your findings and share them with your team and stakeholders.

I have always considered value propositions as a perfect dance between insights and iteration. Businesses should be constantly looking to refine their value propositions, adapting to customer feedback and market trends. Analyse data alongside stories to identify areas for improvement, avoiding biases as you search for opportunities to scale, pivot or stop. Prioritise changes that address pain points, not just emotional connections. Adapt and remain flexible as markets evolve, to stay relevant and competitive. This should be considered a a continuous process, as markets and consumers also continue to shift. By iterating and learning, businesses have the opportunity to hone their propositions, gaining a competitive edge in the marketplace.

Decide whether to pivot, persevere, or stop based on your product-market fit and customer value delivery. Update your value proposition statement, canvas, or lean canvas and refine product features, benefits, and differentiators. Plan your next steps and experiments, continuing to test and learn until achieving product-market fit.

Think of your value proposition as a treasure map. It's not just reaching the treasure; it's ensuring the map is crystal clear. So, you've set sail with your product; now it's time to fine-tune your course. Based on the winds of feedback and the tides of results, decide: pivot, persevere, or drop anchor. Does your product fit the market like a key in a lock? Great, polish it until it shines. If not, redraw that map. Update your value proposition, refine those features, and make your product stand out. Plan your next ventures, test relentlessly, and navigate through the market's waves. Keep iterating until your product and market fit together like a legend and its lore. That's the art of mastering your value proposition.

"é preciso ser apaixonado pelo problema, e n?o pela solu??o". é preciso haver um balan?o saudável entre a sua prova de conceito, e as provas do mercado sobre o seu conceito. Nesse contexto, é preciso ter bem definidas as fontes de feedback das pesquisas e o perfil de uso/consumo avaliado, para que as valida??es n?o sejam inexatas e no fim sua POC seja alterada de forma a fugir do seu propósito.

Utilize os insights coletados durante a execu??o dos experimentos para ajustar e refinir sua proposta. Isso inclui incorporar sugest?es dos clientes, adaptar mensagens de marketing, e ajustar características do produto para melhor atender às necessidades e expectativas identificadas. A itera??o constante garantirá que a proposta de valor seja cada vez mais alinhada com as demandas reais do mercado, aumentando as chances de aceita??o e sucesso no lan?amento do produto. Essencial: proposta de valor quem diz s?o os clientes.

Embrace a culture of experimentation and learning, where failures are seen as opportunities for growth. Foster interdisciplinary collaboration between product teams, marketing, and customer support to ensure seamless integration of customer insights into product development cycles.

In a scenario where a startup aimed to introduce an eco-friendly beverage container, they employed a systematic approach to validate their value proposition. Before launching, they segmented their target market to focus on environmentally conscious consumers. They formulated hypotheses around the container's unique appeal, hypothesizing that its biodegradability would be a key selling point. Through a series of structured experiments including customer interviews and early product prototypes offered at green markets, they collected valuable feedback. This iterative process enabled them to refine the product's features and marketing strategy, ensuring alignment with consumer expectations and enhancing the product's market fit.

I've seen cases where customer testing destroyed a company's intellectual property. If you are planning to secure IP for your product, in particular patent rights, make sure you protect it before showing it to customers. (You can also consider having your customers sign an NDA, but, depending on the product, that might be hard to implement and/or it might distort your results.)

Old but Gold. Bem importante ressaltar a importancia dos métodos tradicionais de gerenciamento de projetos. A boa e velha vis?o de PDCA, em especial a parte cíclica do processo deve ser sempre lembrada e exaltada. é super relevante manter uma vis?o de aprendizado constante e retroalimenta??o do todo. A vis?o deve ser constantemente revisada e atualizada...

Always use tools to make life easier, optimize and guide the thinking. Some good customer journey map tools are Miro, Xmind. For user personas, use google forms, typeform, teams and so on, for value proposition use the Canvas by Strategyzer, for storytelling there are Canva, Prezi and so on. The important is adapt what better fits with your scenario and spend less money improving time.