What makes your business stand out from the rest?
Why should I buy from You?? What is your UVP? (Unique Value Proposition)
Unique value proposition (UVP), also known as a unique selling proposition (USP), is a clear statement that describes the benefit of your offer, how you solve your customer's needs and what distinguishes you from the competition. Your unique value proposition should appear prominently on your landing page and in every marketing campaign. It is arguably the most important element of your overall marketing messaging.
A value proposition tells prospects why they should do business with you rather than your competitors, and makes the benefits of your products or services crystal clear from the outset. The UVP helps customers understand why the option you provide is right for them. When you include it in marketing materials and integrate it into your customer experience, it helps customers make a decision and, at times, helps them explain their decision to others. A well-articulated rationale can give them confidence in their purchase—and even help turn them into a brand advocate.
Ultimately, as a business owner, your UVP distinguishes your business’ offer from others.
To figure out your unique value proposition, you need to understand what you do well, what your customers want/need, and how you stand out. The following four-step process walks you through ascertaining these things and translating them into drafts of your UVP:
- List out your product's or service's benefits
- Research your customers
- Reasearch your competitors
- Write it and test it
List out your product/service' benefits - Make sure you understand what you do well. One way to do this is with a “FAB statement” exercise: features, advantages, benefits. List each of your product’s or service’s features, then for each one, list what the feature accomplishes (advantage) and why a potential customer would value that (benefit).
For example, one FAB for a headphones brand might be:
- Feature: cushioned ear pads
- Advantage: more comfortable use
- Benefits: longer, more enjoyable listening sessions
Research you customers - Customer research helps you understand what your customers want and need. Start by doing market research on your target audience, and if you have existing customers, interview them about why they bought from you and what their pain points were. This can take the form of a buyer persona.
Research your competitors - Researching your competitors is an important part of crafting your UVP—it informs how your product can stand out. You may have found an incredible customer need, and a great product to fulfill it, but if another product’s benefits already fulfill that need in the same way, you’ll have a hard time succeeding.
As you research, aim to dig into at least three well-known competitors your customer would consider. For each, list its features and how they communicate them. When you’ve done that, look for gaps: What benefit does your product/service have that your competitors’ products/services don’t? This is your starting point for the next step.
Write it and test it - Once you’ve completed the three exercises above, you should have a clear sense of what you do well, what your customers want/need, and how you can stand out. Now, you can put it all together in a UVP statement.
Tell your customers what sets you apart from the rest........ What do you offer that your competitors don't?
"In order to be irreplacable
one must always be different."
Coco Chanel
