A unique value proposition (UVP) refers to a clear statement that describes the benefit of your offer and how you solve your customers’ needs. In its essence, it’s what distinguishes you from the competition. If your UVP isn’t well established and communicated, your business is missing out on the true potential of an effective UVP. Here are some key factors that you need to consider in order to correctly identify and construct your unique value proposition:
- What does the Marketplace want? – This is first factor you should consider in order to identify your UVP. A normal offering will not stand out in the marketplace. You need to identify what does your specific marketplace is seeking in terms of value provided. Ask yourself questions such as, “What can I do that will provide so much value for them that they won’t hesitate to purchase my product or service?”.
- It’s all about how you say it – Being able to properly articulate and express your UVP is just as important as the UVP itself. If you have an outstanding UVP but are unable to communicate it clearly to your audience, potential customers will not understand the actual value of your UVP. Make sure to clearly state the value you provide that customers wont be able to find with competitors.
- Personalising your UVP – When you contact a potential client or customer, ensure you tailor your UVP to their current business situation. Furthermore, you should try to find out what is important for them. Incorporating an element of personalisation to your UVP has the potential to make your clients or customers perceive your product of service provided as significantly more valuable.
- UVP for new products and services – In addition to having a UVP for your business, we highly recommend that you identify and construct UVPs for your current products and/or services as well as upcoming products and/or services you are planning on releasing in the future.
A unique value proposition is one of the most important assets for any business so make sure to consider our tips when generating your UVP. At the end of the day, if you help enough people to get what they want, you’ll have everything you want!
If you need marketing strategies for your business, our team at Your Social Voice can easily work with you through it.