Marketing Tip: How to Create a Unique Value Proposition
To be successful in marketing to your ideal customer, you must be able to show them that you are the only and best choice for them. The best way to do this is with a clear unique value proposition or UVP. A UVP gives your ideal customer a solid reason to choose you over the competition by identifying that you can provide a specific and valuable benefit that your competition cannot or does not provide. A UVP is critical for your business and your marketing message, and if correctly constructed you will be able to better compete in the marketplace. Many small businesses think that if they can provide the lowest price they will be able to win in the competitive space. Unfortunately, that is not always the case. If you want to entice someone to purchase your product or service, you have to give him or her a reason, besides price, to choose you.
When you break UVP down to its parts you can visualize what you need.
- Unique: You have to be unique or different to attract your ideal customer to try your product or service. If you offer the same thing that your competitor does, there is no guarantee that they will come to you.
- Value: As you have already done some research on your ideal customer, you should have a pretty good idea of what they would find value in. People will pay the price for something that they find value in.
- Proposition: You want to be able to create a situation where your ideal customer will look at your offering and perceive that by purchasing your product or service, will end in a successful experience.
Once you have determined the three components of your UVP, you want to develop a statement that you can use on your marketing materials and as part of your marketing message. Know that Your Unique Value Proposition is not a hopeful business statement of what you want it to be or what you wish your business to be. Instead, a UVP plainly states what your business does, and what your business is and what you are offering to your customers. Writing your UVP will take awhile to get it perfect, but keep at it until you are comfortable with what you are saying and confident that you can back up what you are saying.