What Is Value Creation in JTBD Theory?
Value creation refers to the process of helping customers get their jobs done better and/or more cheaply. In JTBD theory, value is defined by how well a product satisfies customer needs—both functional and emotional—within a specific job-to-be-done.
For example:
- A fitness app creates value by helping users "track progress toward fitness goals" more easily and accurately than manual methods.
Why Is Value Creation Important?
How Does It Drive Growth?
Value creation is essential for:
- Increasing customer satisfaction.
- Building loyalty and retention.
- Differentiating your products in competitive markets.
What Are Examples of Value Creation?
- Convenience: A rideshare app creates value by reducing wait times compared to taxis.
- Cost Savings: Streaming services create value by offering unlimited content at lower prices than cable TV.
How Can Companies Create More Value?
What Strategies Work?
- Identify unmet needs within the job-to-be-done.
- Develop solutions that address those needs better than competitors.
- Focus on both functional outcomes (efficiency) and emotional outcomes (positive feelings).
Why Choose Thrv for Value Creation Insights?
Thrv specializes in helping businesses create value by aligning their products with customer Jobs To Be Done. Our tools uncover unmet needs and guide innovation strategies that deliver measurable results.
Visit thrv.com today to learn how value creation can fuel your growth!
