{"id":787,"date":"2019-12-08T00:00:00","date_gmt":"2019-12-08T00:00:00","guid":{"rendered":"https:\/\/debane.org\/franck\/4-ways-to-test-your-value-proposition-c0a631c5adf8\/"},"modified":"2020-04-20T21:27:36","modified_gmt":"2020-04-20T21:27:36","slug":"4-ways-to-test-your-value-proposition-c0a631c5adf8","status":"publish","type":"post","link":"https:\/\/debane.org\/franck\/4-ways-to-test-your-value-proposition-c0a631c5adf8\/","title":{"rendered":"4 Ways to Test your Value Proposition"},"content":{"rendered":"<p id=\"b2fb\" class=\"graf graf--p graf-after--figure\">Okay, you think you have nailed a good value proposition for your new product? You like it, your friends like it. Good. But what matters is that your future customers want it or at least understand it.<\/p>\n<p id=\"94ed\" class=\"graf graf--p graf-after--p\">Here are 4 ways to test this value proposition with your potential customers:<\/p>\n<ul class=\"postList\">\n<li id=\"25f4\" class=\"graf graf--li graf-after--p\">Online Ads<\/li>\n<li id=\"9e5d\" class=\"graf graf--li graf-after--li\">Landing Page<\/li>\n<li id=\"6db5\" class=\"graf graf--li graf-after--li\">Pitch<\/li>\n<li id=\"23b1\" class=\"graf graf--li graf-after--li\">Solution Interview<\/li>\n<\/ul>\n<h3 id=\"0817\" class=\"graf graf--h3 graf-after--li\">Online Ads<\/h3>\n<p id=\"c55f\" class=\"graf graf--p graf-after--h3\">The idea is to broadcast your value proposition to target customers in the form of an ad.<\/p>\n<p id=\"44d5\" class=\"graf graf--p graf-after--p\">Google Ads or Facebook\/Instagram Ads are great for that. They allow you to run ads shown to their customers (\/users). You only pay for the click you receive on your ad. You can also run ads on other platforms (Twitter, LinkedIn), depending on where you think your customers are online.<\/p>\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-820\" src=\"https:\/\/debane.org\/franck\/wp-content\/uploads\/1_ZKZkXL-_VLfP1gpgGoQT2Q-1024x410.jpeg\" alt=\"\" width=\"660\" height=\"264\" srcset=\"https:\/\/debane.org\/franck\/wp-content\/uploads\/1_ZKZkXL-_VLfP1gpgGoQT2Q-1024x410.jpeg 1024w, https:\/\/debane.org\/franck\/wp-content\/uploads\/1_ZKZkXL-_VLfP1gpgGoQT2Q-300x120.jpeg 300w, https:\/\/debane.org\/franck\/wp-content\/uploads\/1_ZKZkXL-_VLfP1gpgGoQT2Q-768x307.jpeg 768w, https:\/\/debane.org\/franck\/wp-content\/uploads\/1_ZKZkXL-_VLfP1gpgGoQT2Q.jpeg 1500w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><\/figure>\n<p id=\"ec4c\" class=\"graf graf--p graf-after--figure\">Facebook and Google work differently and give different results. You should decide and test which platform to use:<\/p>\n<p id=\"d812\" class=\"graf graf--p graf-after--p\">On Facebook Ads<\/p>\n<ul class=\"postList\">\n<li id=\"422c\" class=\"graf graf--li graf-after--p\">Customer: A customer looking at Facebook is leaning backward, looking to be distracted or surprised. His\/her next action is to scroll down.<\/li>\n<li id=\"9a03\" class=\"graf graf--li graf-after--li\">Targeting: On Facebook, you can target customers based on their profile and all the information Facebook is collecting about them<\/li>\n<li id=\"064e\" class=\"graf graf--li graf-after--li\">Channels: Your add will appear on Facebook and you can choose to reach customers on Instagram as well.<\/li>\n<li id=\"a5c4\" class=\"graf graf--li graf-after--li\">Message: Image, video, and some text. You will need a Facebook page as well to run the ads.<\/li>\n<\/ul>\n<p id=\"1776\" class=\"graf graf--p graf-after--li\">On Google Ads<\/p>\n<ul class=\"postList\">\n<li id=\"ae99\" class=\"graf graf--li graf-after--p\">Customer: A customer on Google is leaning forward, searching for something and his\/her next action is to click on a link.<\/li>\n<li id=\"7ffa\" class=\"graf graf--li graf-after--li\">Targeting: On Google, you can target customers based on the keywords they are searching for.<\/li>\n<li id=\"7511\" class=\"graf graf--li graf-after--li\">Channels: Your ad will appear for some customers on the Google search engine. You can also choose to broadcast your ad out to a network of search partners and the display network.<\/li>\n<li id=\"63ef\" class=\"graf graf--li graf-after--li\">Message: in its simple form, your ad will have a title a web link and a few lines of text.<\/li>\n<\/ul>\n<p id=\"4a14\" class=\"graf graf--p graf-after--li\">Those ads constitute the top of your funnel. Clicking on them should lead the user to either a form (like Typeform or other) or to a Landing Page, which will allow you to capture people\u2019s contact provided they are interested.<\/p>\n<p id=\"7c8a\" class=\"graf graf--p graf-after--p\">Of course, you get extensive analytics from Google and Facebook on your ad campaign. But here you are looking to understand if your value proposition is marching your customer segment. Define an acceptable threshold at iterate on your ads.<\/p>\n<p id=\"c814\" class=\"graf graf--p graf-after--p\">Online ads will only give you quantitative feedback. But if it doesn\u2019t work, you have no idea why. That\u2019s why you need to complete, or even better start with qualitative feedback.<\/p>\n<h3 id=\"907f\" class=\"graf graf--h3 graf-after--p\">Landing Page<\/h3>\n<p id=\"9156\" class=\"graf graf--p graf-after--h3\">The landing page is now a classic. I think I first head about the concept in the 4 hours week book by Tim Ferris. To build a landing page, you can use sites like Strikingly, Squarespace, Wix or Weebly. They all provide similar services.<\/p>\n<p id=\"38f7\" class=\"graf graf--p graf-after--p\">To build your landing page, I recommend this very comprehensive article: <a class=\"markup--anchor markup--p-anchor\" href=\"https:\/\/medium.com\/early-stage-startup-validation\/how-to-setup-a-landing-page-for-validating-a-business-or-product-idea-d72c35fc012c\" target=\"_blank\" rel=\"noopener noreferrer\" data-href=\"https:\/\/medium.com\/early-stage-startup-validation\/how-to-setup-a-landing-page-for-validating-a-business-or-product-idea-d72c35fc012c\">How to set up a landing page for testing a business or product idea.<\/a><\/p>\n<p id=\"4fb0\" class=\"graf graf--p graf-after--p\">As a result of what should something like this.<\/p>\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-822\" src=\"https:\/\/debane.org\/franck\/wp-content\/uploads\/1_yDmAr0bO_GZpBRJGjd_fIA-1024x491.jpeg\" alt=\"\" width=\"660\" height=\"316\" srcset=\"https:\/\/debane.org\/franck\/wp-content\/uploads\/1_yDmAr0bO_GZpBRJGjd_fIA-1024x491.jpeg 1024w, https:\/\/debane.org\/franck\/wp-content\/uploads\/1_yDmAr0bO_GZpBRJGjd_fIA-300x144.jpeg 300w, https:\/\/debane.org\/franck\/wp-content\/uploads\/1_yDmAr0bO_GZpBRJGjd_fIA-768x368.jpeg 768w, https:\/\/debane.org\/franck\/wp-content\/uploads\/1_yDmAr0bO_GZpBRJGjd_fIA-1536x737.jpeg 1536w, https:\/\/debane.org\/franck\/wp-content\/uploads\/1_yDmAr0bO_GZpBRJGjd_fIA-2048x982.jpeg 2048w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><figcaption><\/figcaption><\/figure>\n<p id=\"7dfa\" class=\"graf graf--p graf-after--figure\">With your Landing Page done, you already achieved two things:<\/p>\n<ol class=\"postList\">\n<li id=\"e19b\" class=\"graf graf--li graf-after--p\">you made your value proposition tangible\u200a\u2014\u200aand made hard choices around wording, customer and benefits.<\/li>\n<li id=\"f7d0\" class=\"graf graf--li graf-after--li\">discussed it with your team and eventually aligned, helping uncover some potential misunderstandings<\/li>\n<\/ol>\n<p id=\"1262\" class=\"graf graf--p graf-after--li\">But what matters is customer reactions. You can test this Landing Page in 2 ways:<\/p>\n<ol class=\"postList\">\n<li id=\"2a6f\" class=\"graf graf--li graf-after--p\">expose it to customers, either with Online Ads, Email or posting it on social media where your customers are. Measure clicks on the \u2018call to action\u2019 button. Great if it works. If it doesn\u2019t, you need to find out why?<\/li>\n<li id=\"7433\" class=\"graf graf--li graf-after--li\">the 5-seconds test<\/li>\n<\/ol>\n<p id=\"d4b3\" class=\"graf graf--p graf-after--li\">The 5-seconds test allows you to get qualitative (the why?) feedback on your landing page. Here you engage directly with your target customer in the real world, not online and you show them your Landing Page. For 5 seconds. It\u2019s short. It\u2019s the 5 seconds it takes for a distracted web surfer to consider an offer and make up their mind about it.<\/p>\n<p id=\"ca38\" class=\"graf graf--p graf-after--p\">After 5 seconds, hide your Landing Page and asks questions:<\/p>\n<p id=\"5e43\" class=\"graf graf--p graf-after--p\">What was it? What did you see? What did you understand? Take notes. Don\u2019t explain. This will give you, surprises for sure, but also the customer perspective and the different points to improve.<\/p>\n<h3 id=\"1350\" class=\"graf graf--h3 graf-after--p\">A pitch<\/h3>\n<p id=\"0bce\" class=\"graf graf--p graf-after--h3\">Pitching your value proposition directly to potential customers is a great way to test comprehension and clarity. You can see their reaction and listen to their questions.<\/p>\n<p id=\"729f\" class=\"graf graf--p graf-after--p\">Ask them to rephrase back what you pitched and see what they understood. Listen to the word they are using\u200a\u2014\u200athose are words you could use in your next pitch.<\/p>\n<p id=\"f5af\" class=\"graf graf--p graf-after--p\">If a customer is excited about your offer, you can follow up with a solution interview.<\/p>\n<h3 id=\"5f46\" class=\"graf graf--h3 graf-after--p\">Solution Interviews<\/h3>\n<p id=\"b5ac\" class=\"graf graf--p graf-after--h3\">A solutions interview is to test the appetite of the customer for what you have to offer. It starts with a little preparation and finished with meeting the customer. This is how to structure those interviews.<\/p>\n<h4 id=\"3144\" class=\"graf graf--h4 graf-after--p\">Part 1\u200a\u2014\u200aProblem validation<\/h4>\n<p id=\"af34\" class=\"graf graf--p graf-after--h4\">Before you make any proposition to the customer, make sure they are in your target segment. Qualify their needs.<\/p>\n<p><em>We have been talking to lots of people like yourself and we have heard this [problem\/need\/situation].<\/em><\/p>\n<p><em>Could you share how does it relate to your experience? What story comes to your mind? What would you like to share?<\/em><\/p>\n<p id=\"da6b\" class=\"graf graf--p graf-after--blockquote\">After this conversation, you know with more certainty if the customer needs your solutions or not. Now test your value propositions.<\/p>\n<h4 id=\"c66f\" class=\"graf graf--h4 graf-after--p\">Part 2\u200a\u2014\u200aCo-create around the value proposition<\/h4>\n<p id=\"8e90\" class=\"graf graf--p graf-after--h4\">Here explain what you have in mind, our solution, and assess the customer interest.<\/p>\n<p><em>We are looking to \u201cvalue proposition\u201d. Is this something we can explore with you today? What does this mean for you?<\/em><\/p>\n<p><em>How would you use it tomorrow? Why is it important?<\/em><\/p>\n<p id=\"8034\" class=\"graf graf--p graf-after--blockquote\">You can also drill down to the feature level.<\/p>\n<p><em>We are thinking about feature 1,2,3. Which one do you think is most relevant to you, which one would address best your problem. Why?<\/em><\/p>\n<h4 id=\"174f\" class=\"graf graf--h4 graf-after--blockquote\">Part 3\u200a\u2014\u200aValidation and Commitment<\/h4>\n<p><em>Would it make sense for us to explore this?<\/em><\/p>\n<p><em>Yes.<\/em><\/p>\n<p id=\"fb63\" class=\"graf graf--p graf-after--blockquote\">Now you have an interested customer. To assess how interested he\/she is, ask for a commitment. It\u2019s is something a customer would do, should they be interested in your offer. For you, it\u2019s proof of their interest.<\/p>\n<p id=\"fa7f\" class=\"graf graf--p graf-after--p\">This proof of commitment has some cost to the customer. Either in time, effort, energy, financial, etc\u2026 If it has no cost, to implication for the customer, this is not a commitment. Because it has a cost, we also call this a currency.<\/p>\n<p id=\"f008\" class=\"graf graf--p graf-after--p\">Here are examples of what you could ask for:<\/p>\n<ul class=\"postList\">\n<li id=\"4d43\" class=\"graf graf--li graf-after--p\">Money\u200a\u2014\u200apre-order (think kick starter or prepayment)<\/li>\n<li id=\"fd09\" class=\"graf graf--li graf-after--li\">A signed agreement (NDA, contract for a POC, exclusivity,&nbsp;\u2026)<\/li>\n<li id=\"03ab\" class=\"graf graf--li graf-after--li\">Invitation to another meeting (with the boss, at a different location)<\/li>\n<li id=\"123f\" class=\"graf graf--li graf-after--li\">An email, phone number (in b2c context)<\/li>\n<li id=\"2ca4\" class=\"graf graf--li graf-after--li\">Access to sensitive data -(contact list, usage data for AI products,\u2026)<\/li>\n<\/ul>\n<p id=\"2ab1\" class=\"graf graf--p graf-after--li\">Depending on the situation, some of those examples don\u2019t commit customers. Are you asking this customer to be committed or involved?<\/p>\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-821\" src=\"https:\/\/debane.org\/franck\/wp-content\/uploads\/1_avGSRNR98wSsYU3d9JJYSQ.jpeg\" alt=\"\" width=\"500\" height=\"400\" srcset=\"https:\/\/debane.org\/franck\/wp-content\/uploads\/1_avGSRNR98wSsYU3d9JJYSQ.jpeg 500w, https:\/\/debane.org\/franck\/wp-content\/uploads\/1_avGSRNR98wSsYU3d9JJYSQ-300x240.jpeg 300w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><figcaption><\/figcaption><\/figure>\n<p id=\"c964\" class=\"graf graf--p graf-after--figure\">Of course, your value proposition is something that changes over time and will need to be refined as you keep on learning from your customers.<\/p>\n<p id=\"8232\" class=\"graf graf--p graf-after--p graf--trailing\">For more on running experiments, read David Bland\u2019s post: <a class=\"markup--anchor markup--p-anchor\" href=\"https:\/\/medium.com\/precoil\/an-introduction-to-experiment-pairing-8e2e24796f3e\" target=\"_blank\" rel=\"noopener noreferrer\" data-href=\"https:\/\/medium.com\/precoil\/an-introduction-to-experiment-pairing-8e2e24796f3e\">An Introduction to Experiment Pairing<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Okay, you think you have nailed a good value proposition for your new product? You like it, your friends like it. Good. But what matters &hellip; <\/p>\n","protected":false},"author":1,"featured_media":823,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,42],"tags":[39,40,41,38,37],"class_list":["post-787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marketing","category-value-proposition","tag-online","tag-pitch","tag-solution-interview","tag-testing","tag-value-proposition"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>4 Ways to Test your Value Proposition - Digital Evolution<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/debane.org\/franck\/4-ways-to-test-your-value-proposition-c0a631c5adf8\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"4 Ways to Test your Value Proposition - Digital Evolution\" \/>\n<meta property=\"og:description\" content=\"Okay, you think you have nailed a good value proposition for your new product? 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