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How to use the Customer Value Explorer

In the previous article in this series, we used the Customer Value Mapper and defined key customer values to deliver successful business outcomes. This article will take the customer values you defined and expand on them using the Customer Value Explorer.

Identify valuable user behaviours

The purpose of the Customer Value Explorer is to understand how the customer recognises the value, and define user behaviours that impact said customer value. We are not trying to do this by listing granular low-level tasks, but instead, use higher-level goals, projects, actions or emotions that make an impact. 

The product, customer success and sales teams will all have input into what these behaviours look like and how it supports the desired customer value. You must workshop and socialise the ideas to then consolidate them into concise descriptions on the template shown below.

Using the Customer Value Explorer

Following the guide below, the "Customer value" section is a customer value taken from the Customer Value Mapper. If you have four customer values on the mapper then you will need four explorer templates, one for each customer value.

The next box, "How would the customer recognise this?" needs you to consider what the customer would see, hear, or feel when the value is achieved. 

We then move to the box "What customer KPI changes", and define how the customer will measure the value. It does not matter if you do not have access to this measure, this is all about understanding how the customer perceives value in your product.

Now with a clear understanding of customer perception, we can explore what actions or behaviours they carry out will directly impact the value. In B2B products, these behaviours might also include users who are buyers. Capture the behaviours in the box "What customer actions or behaviours impact the value?".

The next box "How could product improve this?" should be completed with caution. This is not a commitment of features to build, but it is a nod in the direction of the solution. We simply want to get a feel for how feasible it is for our product to modify the defined behaviours. 

Finally the last box "Are we best positioned to create this value?" is a sense check of what you should be looking to deliver this value. It might be a partner is better positioned, it might be you don't have any of the skill set to support the value, or it could be far too expensive or even against your ethics. Normally the answer to this question is "yes we are".

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Hungry for more?

The next article in this series moves to the next step in building a product VCP, sharing how to use the Value Assumption Builder

To help build your product value creation plan, subscribe to the 10-part guide "How to execute your product strategy". We will send you the articles and a download containing the templates used throughout the guide.

If you want to accelerate building your Product VCP check out our hands-on coaching program, or our 1:1 product leader coaching.