How to Stand Out from Competition: Unique Value Proposition Workshop

Transcript

hey hello everyone we are um at meeting people right now coming into this Zoom meeting room um everybody is automatically unmute but later if you have any questions you can raise your hand in the zoom meeting and then we can always have a quick Q&A session at the end of the workshop it's okay uh feel free to chat let's see if you can chat here oh okay great I see sha

hi hey hello Benedict hello everyone Ivan nice to meet you Janet are we still we're still admitting more people into the room just give us one minute then I'm going to start soon hello Tony welcome joanni Sven nice to see you again sh all right so it's uh 1:00 now um let's

start with the workshop so in general this Workshop has been I have conducted this Workshop in two different um accelerator programs and also I receive many feedbacks from different startups especially when they're at early stage so I hope this Workshop is going to be useful for you guys uh you can raise any questions write them in the chat or at the end of the workshop if we have a little more time we can have a discussion is that okay yeah it's going to be a little bit interactive so feel free to raise your hand or type anything if you want to comment or um ask a question in the chat function so let's keep it not so formal a little more interactive I'm going to

share my [Music] screen f [Music] give me one second I need to open system [Music] preference um saskia are you there yeah can I give the um

admin right back to you because I have to uh quit and join again to allow screen sharing okay uh can you tell me how to give it back to you let me do that oh no problem I I already see that I can share my screen now that's so you guys can see my screen yeah yes very well oh perfect yeah because I'm doing screen sharing so I might not be able to see all the comments so um yeah if you can raise your hand or you can just unmute

yourself and raise a question that's not a problem at all so we can start now um so this Workshop is called value proposition Workshop uh the reason why it's called value proposition is because we use this canvas called value proposition canvas uh to help you as a model like as a template to help you develop your own uvp so you can um de so then you can develop your marketing message um more effectively to Target your target audience and it's going to be brought to you by Marite or we call it Market in German people might sound might call it Marite so it's Market is a web three marketing agency so I'm the founder and we are a member of crypto value

Association um so let me start with a quick uh round table so where are you guys located maybe you want to quickly share with me what your compan is about maybe let's do it in like one to two minutes time if anybody wants to you know introduce yourself why you're here what you want to take out from this Workshop hi is uh is Ivan speaking can you hear me yes so uh I'm a solution consultant from for itch it's a Taiwan based software development company and I'm a crypto member since a while and I saw basically the invite for today and I

was very interested basically listening in and to learn and thanks for that in advance okay welcome anyone else want to say a word um what's your compan is about and what do you want to take away from this Workshop I will hello everybody it's Joan here I'm From Italy but I lived three years in in Switzerland so that's why I'm proudly part of the crypto Valley uh I'm creating a startup uh in in the So-Cal digital product passport so I'm bring I'm I'm letting companies small medium companies to to create

their own digital product passport and using the nfts as a layer of infrastructure let's say so today the takeaways from my side is really to understand the if my value proposition is a line with let's say with this framework and how I can improve my my value proposition so thank you yeah welcome and you're in the right place Mike want to say something or I see the hand from someone I I can say something even though didn't put up a hand hey I'm Mike I'm I'm a sales coach um I'm also a a member of crypto valy Association and I help startups um get

their sales strategy together and uh make sure that they get the rubber to the ground so uh things like territories sales incentive plans and and uh the likes um what I'd like to get out of this Workshop is a little bit of a sharper profile when it comes to USPS or UVS as you as you call them um to to see what could be technology specific uh in terms of creating USBS technology specific okay thank you uh I'm jat you raise your hand uh hello I'm I'm I'm J I'm basically based in uh in Morocco so we we run uh a cyber security and blockchain consulting firm uh we are

based in Morocco and in Estonia as well we are part of crypto valy Association uh actually what I'm looking for in this Workshop is as you know like uh the blockchain security industry is very competitive and there is uh like little uh to offer in terms of difference between like competitor either in terms of price Etc so I would like to know more if uh we are missing anything and we would like to like know more about how we can offer like a unique value to our clients H okay good and sha hi Yi hi everyone um sheta here from Bitcoin marketing team um so we're a

crypto marketing agency one of the oldest in Europe and um heavily focused on the strategy side of things and tracking attribution um so we help mainly startups uh but work with exchanges Etc on a global scale as uh as well um I am here today because we're very good at helping our clients Market themselves um but we could do with some tips when it comes to I suppose building our own profile um so I thought I'd see what I can get out of this because I know yassi is an expert in this area so uh thought I'd uh tap into some of your

wisdom yeah hello sh yeah nice to have you here um yeah so welcome everybody and uh maybe I'll jump into the workshop right now so at the end of the workshop feel free to ask me questions or if you have further questions you can also connect me on LinkedIn and uh also we are in uh startup working group telegram chat um there we can always exchange message with each other so uh a little bit about myself uh I am the F of marketing uh agency web three marketing agency called market and uh previously it's called promo and scale and it was there's a rebranding this year I have more than 14 years experience in global regional and local markets uh founder of

and the marketing consultant of X-Men consultancy IP in Singapore and I worked as a brand manager for international companies uh also had of marketing for blockchain technology companies in Switzerland I coached a couple of blockchain or uh blockchain incubation program and I have had this company for yeah more than two years two and a half years already working with different clients helping them with marketing strategy and goto Market executions um and let's have uh let's try to answer the three questions um in terms of value proposition okay number one is how many of you are familiar with uvp already and have you already Incorporated uvp in your strategy

planning if so maybe you can give me a hands up oh okay I see no hand then you're in the right place so hopefully after today's Workshop you can incoporate this uh into your uh strategic planning and second question we should answer is what is your uh what is uvp and why uvp is important okay so um in terms of how to develop a uvp oh sorry I need to jump back to this uh so this two question the second good questions we are going to you they are going to be answered after this Workshop so in case you have any questions you

can uh write in the chat later so U is a holistic statement uh it's not going to be a slogan or promotion it actually is a value that you promise your customers that you are going to deliver through your product and services so it will be included in your communication uh and also the way how you deliver your product services will also be translated into the uvp so that's why it's very important if you are going to have a marketing manager in your inhouse or working with a marketing agency you need to define the uvp first then the marketing person can translate that through their marketing message or the way how they Market your products that way it's more effective and efficient so

uvp actually is not a offer like 10% off buy one get one free it is also not a slogan for example just do it by Nike or I'm loving it by McDonald's okay and how to evaluate a good uvp very simple three criteria everybody can understand this within 5 Seconds when I say everybody is simple language no jargons not complicated using of U exotic like English language um a way of expressing it so it has to be very easy to understand within 5 seconds and communicate a results and benefit to your customers and oftentimes we see that technology companies tend to communicate features right what features

you have what functions you have but in uvp it's not about features it's about results and benefits and it also explains why you are different so that's that helps you to stand out from your competitors first you tell who you are what you can offer to target audience and then why you are different so you give them a solid reason to maybe get into interested into product or Services they check out your website by hearing your uvp right so some good examples uvp that I found out uh online that I think is very easy to understand and also uh some of the services or softwares that most of you guys already use one is Bly Bly is the um URL shortener so you can also track

how many people click through this URL and this is very simple platform that everybody knows how to use so their uvp is a URL shortner built with powerful tools to help you grow and protect your brand so this sentence is very easy to understand and after reading it you know oh it is a shortener URL shortener and they also have a lot of tools inside and what are the benefits and results you will get as a customer of using it you can grow and protect your brand right and the second one is evote even though aan note has a lot of features and it's a very powerful tool but essentially after reading its uvp it is re it

remembers everything and tackles any project with your notes tasks and schedule all in one place so you understand it within 5 Seconds easy to understand it tells you uh the benefits and results you can get organize all your notes task and schedule all in one place and the third one is MailChimp is email marketing tool so MailChimp engage your customers and boost your business with mail chimps advanced yet easy to use marketing platform again you can understand it within five seconds and it tells you what is it it's a marketing platform it delivers the benefits and

the results to you as a customer like easy to use is a benefit advaned is a benefit but it's not features right didn't talk about features so you can see that U actually is a simple sentence very concise it tells you what kind of benefits and um uh results that you are going to deliver to a customer but it's very difficult to find this perfect sentence I have to say um many companies even the companies I work with have to go through rounds and rounds of discussion or maybe you will have your first version but after while you find a better version so that's not a problem if you can find cannot find the perfect uvp at the

beginning but you can always sharpen it uh when times goes by so don't worry about that so this is easy to understand it's simple but it's not easy and simple to get it so now we talk about benefits and results right and uvp is to deliver the benefits and results to a customer so there are different types of benefits and results how do you decide which ones is relevant we use this diagram to see prospects desires which means your target audience desires what they want okay not everybody wants you have to bear in mind that you always think from your target audience point of view you want to sell your product and services

to them nobody if someone else has a certain opinions or comments about your features of your products actually it's not so relevant because they're not your target audience so you understand what they want that's their desires then you see what your competitors can offer what your competitors value proposition then you look at your own value proposition points right at this stage maybe you don't have the sentence yet but you have some points like this is why I'm different this is the benefits I can deliver this is the results I can deliver and then you put them together you will see that when what you can offer is the same as what your target audience want that is either in points of parity or points of difference but what you can

offer is the same as your competitors and they are all what the customers want you're at points of parity which means it's not unique it's not unique value proposition or what you can offer is not what your target audience want they don't need that actually it's points of irrelevance okay this is very important this is a very important chart because oftentimes I work with a lot of tech startups um you have a lot of features developed but maybe many of the features are not exactly what the target audience want or they desire it's nice to have but it's not what they desire so it's points of irrelevance so you always need to find your value proposition points that is different from your target

competitors and is exactly what your target audience desires so then you find the points of difference okay so this is the value proposition canvas uh you can download it for free or you can Google it called strategizer from this company um this canvas is very useful it's very simple uh you can conduct your own Workshop within the company with key management or key core teams um we start with the left hand side so this Square this square is what you offer from your like your company's point of view right what is your product

Services what is your gain Creator and what's your pain reliever and then you have another side this circle is from your customers point of view your target audience point of view what are the jobs they want to get it done what's their jobs to be done what are their gains or what are the pains if you see the top there is this little rectangular thing actually this is the business model canvas it's also from strategizer it's also very useful I guess most of you have already used it um and then this Two element is value proposition and customer segments are two elements part of the uh business model CS so when you match the left with the right then you

achieve product Market fit right so how we are going go ahead with it let's go one by one let's break it down so let's look at the customer first why I look at the customer first because I always think that when you create a product you have to know what your customer want you have to know what are their pain points you have to know what are their gains and then can deliver products that your customer want right but there could be times that a company or Founders they subconsciously they know there's a problem out there then they develop develop the products with different features and in the end you're asking yourself okay who is my target audience maybe you do not Define it at that

moment which is okay then you can work it backwards when you are developing this products uh what problem actually you have in mind that you want to solve that's why you develop this products or you develop products you can run market research you can interview a lot of people and you can find the groups that are most likely to buy from you or those are the people who can identify their pain points with your product offer so you can work it backwards so ideally we start with identifying the target audience and then understand their pains and gains and jobs to be done okay first we understand that jobs to be done jobs to be done means or we call customer jobs in this template means all the tasks that your customers want to finish

in the context of the problems you are solving okay and the pains are why your customers try to achieve their jobs to be done what are the challenges they face What are problems they encounter and the gains means what the customers expect after completing the jobs okay at this stage is it clear or is uh is there any questions okay uh okay I see no hands at this moment so if it's clear then I will move

[Music] on let's do a small exercise it's uh it's going to be fun so feel free to uh jump in uh there's no you know everybody here is to learn so if you were a umbrella manufacturer okay like you you yourself is the company from umbrella manufacturer what are the customers jobs to be done in simple language what's your target audience want to achieve or what's what's the task they want to get it completed when they think about buying an

umbrella I would say go out and walk even if it's raining yes yeah so that's very obvious that's that's correct so the job should be done is customers they want to stay dry right so like Apollo said also going from point A to point be without getting wet this is exactly their job to be done they want to go outside go somewhere but they want to stay dry so that's why they need to use umbrella so this is customer jobs to

be done so the my second question would be think about yourself if you are the person using the umbrella you are the target audience what would be some of the pain points that you might face challenges pains obstacles troubles while using this products or try to get from A to B staying staying dry yeah umbrella is too big because it's bulky then it's heavy

it's not convenience to carry around yeah so it does not break in the wind so that's the we say it does not break but what would be the pains would be ah if it's if it breaks in the wind right if is too windy and then your umbrella might not stay in shape uh we often see those uh on the street when it's very windy see somebody's umbrella was like flipped the other side uh reliable opening mechanism yes so those are we talk about in the positive right way right so in the negative way the pains would be the problems they're facing would be uh sometimes it's hard to open the umbrella sometimes it gets stucked

right the opening mechanism or weak production materials it's get it's broken okay so when you're using it it's broken or when the wind is so strong it can be yeah it's broken yeah it's too big to fit into the back it's bulky or too small to feed a couple yeah the size of the umbrella is Not Practical that's great gets lost looks bad yeah correct looks back looks bad might also be a pain point for some customers right maybe they're looking for stylish umbrella um for people who you know that's what they're looking for so that's why we talk about prospects

desires different types of customers they have different desires and you can also segment your customers in uh sub segments so great so this exercise is very easy for everybody uh what I want to highlight here is if you think from the customers point of view start with what the jobs they want to get it done we call it jobs to be done and then you think about while they try to get it done what are the problems and challenges they might face okay so those are the problems typical problems they were face so the third question would be if they get from a to be they finish the tasks with your product what kind of benefits they may get from it what kind of results and

benefits they can get after they finish the after they finish the tasks it can be functional it can be emotional benefits correct so arrive at point B dry that's functional benefits the umbrella is functional keeps them dry what are some of the other benefits they might have while using the umbrella I can go back to the point about looks bad right maybe the

emotional benefit will be it looks nice for them they feel good they look good while holding a very nice nicely designed umbrella yeah getting to destination with the same feeling as they left home yeah because they stay dry they feel comfortable so maybe the emotional benefit could be they still feel comfortable and easy um you know that feeling that when you're working in the rain that you don't want to get wet uh and then after you arrive at some point you close your umbrella you shake all the waters from your jacket it's not so comfortable so if you can make the cosmos feel the same as when they left home yeah it's emotional

benefit fun to cut the wind and the rain with umbrella yeah that's also emotional benefits great so now we we look at right there are two things one is the pains like the the challenges people are facing and obstacles and then the other one is what after they completed completed the tasks how would they feel by using your products or by using a product that you should deliver that feeling or that feeling is important to those people either functional or emotional so let's go to the next section so this section is about the customers from customers point of view

um I have another exercise but I think everybody is like really understand this concept so I would just move on to next one then we can do other exercise together um the next section would be from the company's point of view company's point of view is you thinking from your point of view right um what are the product and services you can offer to your customers in the scope of tacking their jobs to be done so that is your core products and services why it might sounds very um it might sounds like a common sense of course I know what I'm selling but often times when companies develop a lot of features uh

and the many softwares that attach to the main software maybe it's not so clear for company or especially Tech startups to understand hey what exactly is my core product and Services I can sell this I can sell this I can sell this I can sell this but at the end of the day you have to identify your core products and services so that when people mentioning your brand name they immediately associate you to this core thing that you're offering all the problems that you are solving okay so that's why here we still need to think about what is your core products or services that to help the customers to get the jobs to to be done jobs done and the pain relievers so what are the functional or emotional

beliefs your products or Services create to elevate or remove the pain your customers might experience so before you have a pain now you have a pain reliever that through your products that you can deliver this benefits and through your product and services that you can relieve the pain okay think about it before we talk about the pains now if you're the umbrella manufacturer what are the pain relievers and game creators game creators are the added benefits your products and services bring to customers while they get the jobs done okay it is not essential it's not so essential

but if everybody is only deliver a product and services to help the customers to get the jobs to be done without the game creators you cannot differentiate yourself easy uh one simple example if you are def5 platform okay people want to do staking from their own wallet but you can develop this platform for them to get this jobs done but while getting it done the customer has to click 10 different website connect wallet verify here and there so yes they can get the job done but is it Pleasant right maybe not but game game creators could be benefits that you bring to your customers while they get drop down maybe

it could be user friendly website or one click get the things done or a lot of things automated those can be your game creators but sometimes it's a little bit blurry what is pain relievers and game creators because from the customers point of view sometimes it's very important for them then you categorize it as a pain relievers and sometimes it's nice to have then you can categorize them as a gang creators so um is it clear at this stage uh do you have any questions or comments lo I have one question um should we focus on one of these three options or should we find um

the those three values for our product yeah thank you it's very good question I would suggest you always finish all the three because once you finish the three um if you go back here you will be able to identify points of difference because if you just do two I say pain relievers like you understand what you're offering you know what's the pains you can address that pains um probably you can arrive at points of parity or just uh meet at the functional needs but the experience of using your products might be less optimal so that's a very good question I think in

reality um I think in reality a lot of companies might develop MVP first to address the pain relievers and the later stage you can add game creators to enhance the experience okay yeah um okay is there any other questions hi Jesse um yes to me is still a little bit blurry how pain relievers um differentiate from game creators yes uh because the um functionality or the feature of the product is still something that allows uh benefits to the to the user or the customer so that's why I always have

some confusions on how to so they frate both yeah um one way to find out is if you conduct let's say 10 interviews with your target audience okay and you ask them questions uh about if we don't have this this feature or you know I click three steps or I click once you know uh would it doesn't matter to you will will you continue using the products is interesting for you or you think it's a big hurdle and you might job out from using the products I think one way to find out is is really through target audience interviews from their point of view then they can identify some of these things are essential to them that

they're expecting it and some of them are not so essential to them and it's nice to have for example the umbrella example uh like looking nice right for certain customers they are looking for functional benefits if you desire a nice umbrella that looks nice maybe for them it's a game creator okay it looks nice holding the umbrella but if the umbrella is not so nice um it will not stop them from buying the umbrella from you because it's good quality that's what they're looking for or from other customers maybe uh let's say in fashion industry people look into umbrella matching the outfit or they're looking they're pay more attention to the design

or the look of the products and the functional benefits is just the basic for them like okay quality easy to use that's it they're not looking for something more fancy they're just looking for something that looks nice then to them probably it's a pain reliever do I do I answer answer your question yes thank you okay no problem U that's why I always highlight uh when I work with companies especially tech companies I always try to highlight yeah go go back to your target audience ask them questions because you they will tell you what they want yeah um Okay then if it's clear let's do a small exercise uh similar to the last one is very easy um steal the umbrella but let's look at it from the

company's point of view now you are the company right to produce this umbrella uh let's go after a typical target audience uh people who want to go from A to B stay dry so uh simple question what is your core product and service okay I can answer on behalf of everybody okay is umbrella so umbrella is your product and service so it's your products and the second question is uh your products is this umbrella what are some of your pain relievers you can type in the chat or

you can um just unmute and um U talk here so what are some of the pain relievers from your product right is a good quality fabric that does not leak water right so it provides dysfunctional benefits it allows you to stay dry while using it yeah collapsible design so it's uh convenient to use it's I would say it's convenient to use um maybe easy to store as well yeah fit in my handback so

it's not bulky maybe it's light nice small light avoid spoiling some personal items because of the water yeah or it could be uh your umbrella has a cover and then once you close it you can put it up and then you can store it in your back so the water will not leak outside probably the cover can be attached to the umbrella itself so you will not lose it later on so it could also be an idea as a pain reliever anything else maybe the structure or the material of the umbrella should be lightweighted

and durable so it stays in shape and structure in even is in wind in strong wind that could be one thing or for people who or for T audience who are looking into design maybe the umbrella can look nice or personalized design that people think oh when I go out to a restaurant and I can easily find my umbrella at the door or someone could say oh I always forget to use my umbrella that's why it's so painful because every time when it's raining I don't have it it could be an umbrella that is so Sleek um that

fits into any back and then you don't even notice that they're there because it's so lightweighted so I'm giving out this ideas because have you noticed that the pain relievers yes has L tight back that reminds me not to leave it behind yeah yeah public umbrellas Ah that's that's a very interesting point that's that's um I would say it's more like a goto Market strategy like how they distribute umbrellas uh or in a way that to address the problem that people will not forget about umbrella or if they forget about it they can just rent one the public one yeah so I want to highlight here is that have you noticed the way how you think

is when you develop your products now you think oh what are the pain points my target audience have now how am I going to incorporate the pain relievers in my product design to address those pain points and this will already help you to develop products that your target audience will use or want to use and then you add some game creators to make you stand out from competition or to make your customer stay with you longer or to make your customers become your Advocates and refer to other people so I think this is the like way of thinking that I'm trying to encourage

people to to adopt here uh when it comes to your UV he development or product development and my third question would be what could be some gang creators uh for your product what are some game creators let me go back to the definition gang creators are the added benefits your products and services bring to customers while they get the

job done okay added benefit again we talk about emotional benefits or functional benefits okay Oliver again yeah free of charge yeah so people feel good if they can use the public umbrella and get the job done and not cost anything so this emotional benefits um personalized design stylish yeah this is also gang creators a nice print of color correct yeah those are gang creators game creators actually can be um can be much more right like Nikki previously mentioned or a tech it could

be a game creator oh it's nice to have it doesn't have to have it but it's nice to have I'm willing to pay more for it as well maybe some customers will say that um yeah so sustainable recycled materials yeah this could also be gain creators um get nft in addition so if your Target customer is looking for that right if your target audience desires that let's come back to that points of difference or it's points of irrelevance um okay so gang creators so I hope you guys understand um what is the difference between pain relievers and gain creators and also from the customer

side what does it mean by pains and gains so here is what you can deliver and offer the other side is what they are looking for what they experience expandable umbrella if I share with another person oh that's a great idea yes so that's also can also be a game creator right and how about Let's do let's do one more exercise let's do it together okay um let's start with the customers jobs to be done if I looking at this pot what is customers jobs to be done what the jobs the customers want to get it

done yeah cook a meal boil the water eat correct so what do your customer want to do they want to cook something they want to cook yeah they heat up something right most likely is a food so they want to cook um let say cook a meal they need to cook something so this is the job to be done let's say make noodles or rice or pasta that they want to cook a meal okay using a pot and what are some of the pains the customers might face by using this by trying to complete the jobs to be

done let say in simple language uh what are the pain points or challenges they might face when they try to cook something yeah time exactly maybe it takes a long time to heat it up we have to wait it's not easy to clean yeah because after cooking it it sticks to the pots and then it takes so much effort to clean it exactly oh so heavy and it's very big or it could be very big or very heavy uh not convenient to store them uh yeah or hot handle you have always use a kitchen towel or use a use

something to hold it um oh it looks looks ugly yeah yeah LLY could be actually one of the pain points because if when it comes to cooking a lot of people have a lot of like nice emotional emotional Association to it there something maybe they enjoy and they they like to use utensils or tools that they they enjoy they like so the goal is not cooking but eating so anything that this delays eating is a pain point if you don't like cooking obviously yeah okay but I would say if we say the so the goal is not is

eating correct but the jobs to be done like the action itself actually is cooking in the scope of your product and services right yeah um anything else I will add maybe uh yeah I think all the key points you guys mentioned all the key points very good so a lot of experience uh cook here so the second point is no not let me remind you remind you again so we identify what jobs to be done we identified what are the pain points why to get the jobs done and third one is what would be some of the gains like uh after you finish cooking what are some of the additional

benefits that the customers might get or while you want to get the food cooked by performing these tasks what could be some of the additional benefits that your customers can get yes easy to clean correct maybe I can add another one uh um I think oh yeah they will feel feel good I think convenience you guys talk about convenience after finish the job to be done uh is convenient to clean they feel they feel relieved they feel

rested they don't feel that's a lot more work for them to do after cooking a meal um and if the let's say if the person is hungry and he can cook very fast and after that finish his food then he feel satisfied he feel content he feel happy about it um can exchange with the neighbors yeah so provided that it's clean or nice or functional and then you can exchange with neighbors then you have also emotional benefits from that easy to store for example by removing the handle yeah correct uh okay okay now we are talking about again we go into the uh pain reliever mode is like what are features

or functions or uh unique points so let's stay on the I I know it's bit confusing sometimes let's stay on the uh gain gains for the customers let's say if they finished cooking the meal how would they feel what are the results they get what are the benefits they get so benefit number one uh they feel full because they can eat they're very hungry they can cook it very fast they'll feel content satisfied or they feel they feel good they feel at home they feel comfortable because it's a product they they use every day and easy to use and they make them feel like at home at at ease and feel

comfortable uh so functional benefits is they can eat something very fast they feel content and emotional benefits could be uh is a nice Port easy to use that they find is very comfortable to use they feel uh not that much work uh to do afterwards like for example clean it um or store it so those are gains okay from the customers point of view and from the products point of view okay if we talk about products now the product is the pot what are some of the pain relievers okay pain relievers so I come back um uh natal said easy to store so before it's bky not easy to store it's a

pain so now if you develop your products you can put that into as a pain reliever make it easy to store the handles can be removed moved okay or it's lightweighted because it's easy to hold move around uh atila say they save money cooking their meal by not having to order something that would probably be more expensive yes if this is easy to use and you can cook your meal fast why people order is because they don't want to cook right it's Troublesome but if you can offer them a pot make it as easy as possible for them to cook a meal they can save money so this is also a gain

yeah it's a very good point thank you it's also a gain so we talk about let let me come back to the pain relievers because now we are talking about pain relievers uh we have a few points for Andreas and Natalie what are some of the other pain relievers as a manufacturer of this cooking pot what can you inject into as a p pain reliever in your product yeah correct a handle doesn't get hot right because it was a pain for

customer now you can create a pain reliever for the customer so the handle does not get hot we talk about like we talk about easy to clean uses little energy yeah so it conduct heat very fast and very efficiently this could also be a pain reliever all right then let's go to the gain Creator you as a seller of this product or manufacturer of this products what can be some of the gain creators that you can deliver to a

customer I have I have one idea for example if the pot inside the pot you can see um how to say you can see the the volume like one liter 2 liter 3 liter water when you cook something you can easily measure that instead of using another measuring cup get a water and pour inside so that saves people time and also offers convenience it's also gain Creator because it's not essential but it's nice to have that saves their time is convenient or it shows the temperature

so especially when you cook something with a special temperature or when you fry something it's perfect to show the temperature I like this idea transparent lead to see inside yes you can come you can match this pot with the lead comes together as a whole products that when people are cooking then they can see if the food is cooked or not and is and tells when the food is done cooked yeah that's also good idea maybe change the color of the pot or there's indicator on it uh you see when the water reaches B poing and the Heat hit to quicker yes a transparent top great all these are great ideas so I think you guys understand now a little bit of what is

the difference between pain relievers and gain creators pain relievers are really addressing the essential pain while the customers try to get the jobs to get the jobs done and game creators are something really nice to have to enhance the experience of using your products and um those can be a little bit those can help you differentiate from your competitors and those maybe can help you to create long-lasting relationship with a customer because they have a pleasant like say it's Pleasant for them to use it right besides the getting the jobs done so at this stage um we look at both customer side and product and services side gains gain Creator pains and pain

relievers uh is there any other questions at this stage or are we clear here to move on oh good great all good okay so once you match your products what you offer your product will you offer with what your Target customer is looking for then you achieve product Market fit this is what most of the investor investors are looking at right they always ask you have you achiev product and Market fit uh it's not so easy to um identify them it really takes a lot of work to understand

your customers and shaping your products to achieve product Market fit so I have to say this Workshop is one hour but the work behind it really actually takes much much more uh time so uh yes don't feel frustrated if you cannot get it on the first uh time so and uh another thing we need to look at is um if you have a lot of points that can be either gains or can be can be pay relievers or can be gain creators so what should you focus on in your marketing communication as I have three pain relievers I have three gain creators uh should I talk about everything or is it too much um so

here is another chart you should you can use so in this Matrix it helps you to priori I uh in your marketing message uh to communicate to target audience what is your core message your core message would always be to to tell the customers what you deliver as a product and services and what results and benefits you deliver which is your paying relievers okay those are really really essential because this is what people are looking for and then the areas of improvement could be you improve your products later or you could be like added benefits added value to your products and those will be uh the pay those will be the game creators that you

can deliver so that's when how you prioritize the core message so is there any other questions at this stage maybe we can also open the floor open the questions and answers uh to the floor and then you guys can comment anything or express your own opinions or experience with uvp Workshop or that you have within your own company or you can ask additional questions here any questions any comments or just you can just Express uh your own opinions like do you think is useful or uh what work you think you should do

later afterwards with your own team uh or additional questions that might not be clear at this stage oh we don't have a questions now so is it clear to everybody then I i' be very glad hey yai there yeah hello maybe just one uh question or topic from my side so

most startups fail um due to finding the product Market fit it's less about the gains and the the reliefs and so I mean it's easy to come up with these things but it's tough um coming up with really like a good product Market fit and how to develop this further I mean this the whole journey um maybe you have a good idea or a nice concept which which highlights this in an easy way or how to maybe like go on about it for people who don't know too much um your question would be how to how to use this in how how to develop

product Market fit you know terms of maybe an easy concept to use something something that gives you a little bit of structure said like Market fit is the the biggest reason for startups to fail I don't know any doing that since 10 years I don't know any startup that failed to come up with a nice product but I know 99% of the startups that fail to match that into the market you know this is not only not only what are the requirements of the user but this is then again like how to fit it in bit of goto Market strategy stuff like that but I don't know was just thinking maybe have good concept for that or yeah I think I might understand your question

um I think this okay if you look at this right oh it looks so easy uh 1 two 3 four five six right it looks very easy but in order to be able to have sufficient insights and knowledge to actually have the workshop with the core team and fill that in that actually brings value to the company I I would always suggest to um to do uh to run target audience target audience interview you might need to run it several rounds for example you might not be clear at this stage oh who is your target audience who might use your products or who are the people most likely to buy from you so you interview a wide range of um target audience or

not target audience wide range of people with different backgrounds or maybe you can narrow it a little bit then you ask key critical questions from there you can find a lot of very interesting insights and that can help you to shape uh the profile of the people who are most likely to buy from you if I if you already more or less have a product at this stage then you narrow it down narrow down narrow it down then you can Define the group with certain profile interests or problems they're facing that I think they show the most interest in your products and then in product developments uh I like this design thinking process that always run um user

testing like and then have a deep like interviews with the users and get their feedbacks so one way you shape your target audience uh profiling them the other way you shape your products so slowly you shape these two things together to make them match um I I I mean this is the suggestion I would give it to you but I understand like there's a lot of work behind behind it it's not so easy even finding the um let's say pains even from the pains you might think okay the customers have pay one to three but actually on once you conduct interviews and you keep digging deeper and deeper actually those are not their pains their pains might be for deeper

reason you know um yeah so I I would just always suggest to run as many interviews as possible and find insights and use insights for a decision making I hope that answerers some answered your question yeah great great thanks yeah I see one question uh do you know any tools that can be used where to find this kind of uh insights as well from customers I mean I know that for example um um P person no it's another one um there are some kind of uh SAR company that allow you to to get info from um

from from customers or potential customers if you already know your target audience yeah um so when I was working on International Brands you can engage market research companies and you can do uh very big market research and even do the you know the dark room there there's a moderator you ask people question you can sit behind and then they don't know you are sitting behind the window but that cost a lot of money but for early stage um my my Approach for early stage startup is I try to formulate a questionnaire uh and then uh with a submission form like Google submission form so you can get some profiling of

these people and then through your friends and families or connections or different groups you just send out to them give people some kind of incentive like money or Fiat tokens then that way it's cheap but it's very efficient at the beginning for early stage startups okay thank you yeah Pao ask when we address a market that is still not aware of the solution you are going to provide should we focus more on pain relief uh or product and services okay I think I understand your question what do you say is that you have a product um that is U for the market but the market is not even aware of this solution so

which means your product is a little bit too early for the market like the timing uh maybe it's not matched at this moment it takes time for the market to realize that this is solution they're looking for probably you are developing products to address a pain point that people are not even aware of it I would say uh if that if you want to create a let's say cash flow it depends on if you have investment or not if you want to create uh cash flow generating business or revenues at this stage uh I would always go for um a product that already addressing existing needs that people are aware of they already know so when they search they know oh I need this and

this and this and who can give me this and this and this but if you are developing a technology products that is not addressing the immediate needs maybe when the market matures and develop uh there will be a need of your products and you have insufficient funding um then I will say uh you have that Pro pain points in mind that you know people sooner or later will recognize that then you deliver your products around that I mean it's not very easy to answer your questions but I hope uh I don't know do you have any other follow up following followup questions or what do you think about this it's it's not easy for me to answer without knowing even I think it's

more like a business decision more than a market Mar decision yeah yeah yeah thank you for answering this I'm going to go to the microphone I think it's going to be easier because it's it's actually um a paino because it's not actually my my service I'm working now to open the market for a company that's already established um in the can I say the um the worldwide U Market they are Global already but they don't don't have any any penetration in the market I'm working with you know but um so it's will be a um a new solution for the market I'm open it but there's already they already have

clients that um are in the same in the same market right and using their product so this is this is the questions I'm not getting really straight here but it's how can I simplify but it's it's just open a new market for a for a service right but this new mark New Market I think mostly they they're not aware of this solution because there's nothing local already developed right okay a foreign solution to tackle a need that mostly everybody has but there's no okay I understand yeah I understand so in this way then it's it's more straightforward there's

already a need in the market uh but people are not aware of the solutions then you need to run a lot of marketing activities to communicate people about your pain relievers with your product and services because you cannot choose either or you can choose pain reliever or or gain Creator but you cannot not talking about your products right you you have to talk about this is your products and this is the benefits you are delivering so it's the products and services plus your paying relievers yeah right right thank you but do you have some suggestions about product branding books I would

like to make sure that I'm delivering the core message directly from the product branding perspective yes there are a couple books um I cannot recall immediately uh the full name of it but if I uh find out later I can uh yeah I can send it in the group chat as they also have audio books on Amazon I have it here so yeah I'm going to send in the telegram group chat um when I find out no problem so we are already passing the 1 hour time um you know I don't want to take too much of your guys working hours during lunch break you join this Workshop I really appreciate that I hope this is going to be useful if you have

any questions feel free to drop me an email uh so this is my email address or you can add me on LinkedIn so yasi Jang that's my full name uh I'm glad to I'll be glad to connect with everybody so thank you so much and see you around in crypto Valley Online offline events in the future thank you thank you yassie it was very helpful thank you thank you guys nice to have you here have a nice day thank you have a nice day bye bye bye have a great day