Have you established your Unique Value Proposition? Do you even know what a UVP is?
A unique value proposition, sometimes called a unique selling position, is a short statement describing your competitive advantage. It should clearly and concisely articulate the value you provide and why your customers should choose you.
It takes a great deal of work and thought to create a winning unique value proposition. We find many of our customers struggle with this because they are focused on their business and don’t consider their customers’ viewpoint. Your value proposition will only come as you take a look at your business as your customers do.
So, start by clearing your mind of any preconceived ideas about your product or service. Take an honest assessment of your environment, ask your customers how you’re doing and get comfortable with this truth
Once you consider your business from your customers’ perspective, you’re ready to look at your strengths, knowledge, and the other features setting you apart from your competition.
Click here to download our Value Proposition Worksheet.
Developing Your Unique Value Proposition
When putting pen to paper and you’re drafting your value proposition, it’s easy to make one of these common mistakes.
Have we harped on this enough?
Make an effort to understand your customers; not just who they are, but understand what they believe and why they have certain preferences.
Your message should resonate with your market, so make it appeal to your market’s desires and feelings.
So, your focus has to be just right. If it’s too narrow or too broad you run the risk of missing your audience. If your proposition is too broad, your offer won’t appeal to anyone. If your message is too narrow, you could miss your audience.
Your business needs to be different from what your competition is offering and so your proposition will be different as well. Scout your competition to see what they offer and how they offer it so you can capitalize your strengths to set yourself apart.
Your customers should be able to understand your proposition at a glance. Don’t use vague wording or trade jargon your customers won’t understand. Cut it down to a few phrases.
Your unique value proposition should change over time. You may be able to use the same one for years, but trends, market conditions change, and your offerings may change. Keep listening to your customers and change to your proposition whenever their problems, desires, emotions, or passions shift.
We help small businesses tell their stories; creating the unique value proposition is one phase of the process. If you’d like to get your business off the ground floor or elevate it, we’d like to chat.