Crafting the core value prop

Great. Now you have the basic understanding of your product, ICP & market. You know the JTBD of your brand.

1. Understanding the product
2. Understanding the ICP
3. Understanding the market and JTBD

The next step is crafting the core value prop, but before that let's put everything you've learnt at once place so that it get's easy to refer back whenever required.

Let's look at these answers for Airbnb

How does the user perceive this category?

Initially, users perceived short-term accommodation as limited to hotels and hostels. They viewed staying in a stranger’s home as unconventional and risky.

Are they aware of the category?

When Airbnb launched, users were largely unaware of the category of short-term home rentals. Airbnb had to create awareness and build trust in the concept.

If yes, do they purchase from the category?

In the early days, most users did not purchase from this category, as home-sharing was a novel concept. Over time, the market grew, and many began to consider it a viable alternative.

What are the triggers and blockers to purchase?

Triggers: Affordable pricing, unique and authentic experiences, the opportunity to live like a local.

Blockers: Trust issues, safety concerns, and discomfort with staying in a stranger's home.

What are the core problems your user is facing?

High costs of traditional accommodation, lack of authentic experiences, and limited options for unique stays.

How do they solve this problem currently?

Users typically booked hotels or hostels, which were often expensive and lacked local cultural experiences.

Do they have an existing habit in place?

Yes, users had a habit of booking hotels or hostels when traveling. Changing this habit required building trust and showing the unique value of home-sharing.

What is the one non-negotiable your user has?

Safety: Users needed to feel secure when staying in a stranger's home. Airbnb focused on safety measures like host reviews, secure payment, and verified profiles.

What are some things that your users are willing to compromise on?

Service Quality: Users were willing to compromise on standardised hotel services (e.g., room service) in exchange for affordability and unique experiences.

What are the outcomes that users want to solve for after using your product?

Users wanted an affordable, authentic travel experience that allowed them to connect with local culture, stay comfortably, and feel safe.

Some industry related questions

What drives travelers to prefer unique, non-hotel stays?

Understanding motivations like adventure, affordability, or local cultural experiences helps shape Airbnb's value proposition.

What are the primary expectations users have from home-sharing accommodations?

Understanding expectations broadly, whether it's affordability, cultural immersion, or convenience, helps Airbnb prioritize features that fulfill these needs.

How important is the idea of "living like a local" to travelers?

This helps Airbnb understand how to emphasize the cultural and experiential aspects of staying in someone’s home compared to traditional accommodations.

What level of service quality do users expect from Airbnb compared to a hotel?

Understanding how service expectations differ allows Airbnb to set the right customer expectations and provide experiences that align with those expectations.

The core value prop for Airbnb will be:

With this, we have completed 50% of the documentation. The next part is all about converting these insights to brand guidelines. This is going to be super exciting.

Let's get to it!