Although there are variants—and complete treatises on how to fill out the canvas according to the type of company—, we are going to use the method explained by Osterwalder in Business Model Generation , step by step in the original order.
Let's see how to complete each area and, in the process, let's do the exercise with Laura's fictitious business, which sells scented candles:
1. Customer segments
Key questions : Who do you create value for? Who are your most important customers? Who are you going to help with what you do?
Complete the area : here you have to define the needs of the audience you want to serve and how you are going to segment it. Maybe your idea is aimed at a specific and small group, or perhaps you are targeting as many people as possible.
As this is the first step, it is extremely phone leads important that you spend time getting to know and defining your potential clients.
Laura's Canvas : She is looking for an audience that enjoys nature, relaxing activities and, of course, scented candles.
2. Value proposition
Key questions : What value do you provide? What problem do you solve for your clients? Which of their needs do you satisfy? What do you offer that makes your idea unique?
Complete the section : This section contains perhaps the most creative part of your idea: that which makes your business different. The element that will make your customers choose what you offer over the competition.
Also keep in mind that what you offer must be profitable for you and affordable for your customers.
Laura's Canvas : She will offer candles with personalized and themed (seasonal) aromas according to her clients' relaxation needs. “The aroma you need for the perfect moment” could be her slogan.
3. Channels
Key questions : What channels do your customers prefer? How will you find and contact them? What is the interaction between the channels? Which are the most profitable? How will those who do not yet know about your brand get to know you?
Complete the area : here you have to define how the value proposition will reach your clients, but it does not only refer to the sale, but also to the communication channels that you will use to promote your products or services. Depending on the type of client, you can use physical and digital channels.
Laura's Canvas : In addition to her online store, Laura seeks out groups where nature, meditation and scented candle lovers meet. She will also use social media advertising campaigns to reach these segments.
4. Customer relations
Key questions : What type of relationship do different market segments expect? What type of relationships have you established with your customers? How much do they cost you? How do these buyers fit into your business model ?
Complete the section : In this section, in addition to specifying how you are going to find new customers, you have to establish your loyalty strategy, to maintain the link with those who have already bought from you.
Laura's Canvas : The entrepreneur is going to create an annual subscription system, so that each month her clients receive a set of themed scented candles, according to the season and the tastes of each buyer.