In a nutshell
Features or Functional benefits of your value proposition are also referred as your USP (Unique Selling Proposition). Good marketing strategies are capable to leverage market demands (functional job to be done), maximising value potential (revenue) and being consistent with the purpose of the brand.
In the Marketing Canvas
In the Marketing Canvas, we have identified 6 main categories for building your Marketing Strategy: CUSTOMERS, BRAND, VALUE PROPOSITION, JOURNEY, CONVERSATION and METRICS. Each of these categories, have 4 dimensions which means that a total of 24 dimensions (6 by 4) are defining your Marketing Strategy.
FEATURES is a one of the 4 dimensions of the VALUE PROPOSITION category.
How to use it ?
Matching the job to be done of your persona (customer) is important but adding too much features to your solution might add complexity and create opportunity cost. If a feature doesn’t have a noticeable effect on acquiring or retaining customers, or is a deviation of the vision there is no reason to add it.
FEATURES are linked with the concept of USP (Unique Selling Proposition).
A unique selling proposition (USP) refers to the unique benefit exhibited by a company, service, product or brand that enables it to stand out from competitors.
FEATURES should help you to be a player of the market (you should have the necessary features expected by the customers for their JTBD) and to stand out from from the competition (your USP). Your USP should be clearly aligned with your PURPOSE. Another dimension in the Marketing Canvas will take care of the emotional part of your Value Proposition, the FEATURES are only functional.
Your product should be feature poor but experience rich. For selecting features, Omar Mouhout recommends that a chosen feature should march 3 criterias:
Be in the purpose (VISION) of the brand
Generate positive revenues (REVENUE)
Demanded by customers (REQUEST) through the Job To Be Done
Value Proposition Canvas is good framework for defining your features . In the Marketing Canvas, Features should be consistent with the Market (Competitive Situation), Your Customers (JTBD), Your (Brand Purpose and Positioning).
If features of your product are not chosen on the basis of VISION-REVENUE-REQUEST model, It is a Brake as you will potentially face adoption risks, market risks or opportunity risks. These risks are blocking you to achieve your ambition.
Are the FEATURES of your Value Proposition helping you achieve your goals?
Strategyzer, Value Proposition, https://www.strategyzer.com/canvas/value-proposition-canvas
Bill Autlet, Disciplined Entrepreneurship
Wikipedia, USP, https://en.m.wikipedia.org/wiki/Unique_selling_proposition