Unique Value Proposition (UVP)
May 9, 2011 15 Comments
- Describe how you are unique, and therefore differentiate you and your product / service from your competitors
- Resonate directly to the company brand
- Give you insight about how to effectively market your product / service
If you’re having difficulty defining your Unique Value Proposition, you can be sure your potential customers are as well. How can customers choose you if they are unable to quickly understand what’s unique about what you do?
Customers want to work with ‘special professionals’. So, know and use your Unique Value Proposition to show customers you are worth more and they should choose you. Value is the intrinsic worth of your offer to your customers; it defines what they get for their money.
Can you create is a succinct statement that’s only one or two sentences long about what sets you apart from your competitors? Can you define what the customer will likely experience when doing business with you? Be careful, You’ll need to live up to everything you promise.
What makes you unique? What sets you apart within your organization?
Take the time to understand how your organization is different from your competition. Then, support this message internally to help your employees focus on the deliverables that set your business apart and keep your customers coming back… and providing referrals.
If you haven’t done a SWOT (Strengths, Weaknesses, Opportunities, Threats), analysis in a while, now would be a good time. As part of your SWOT analysis, pay special attention to the characteristics of your product or service and your customer service model.
What’s important to your clients? Think only like them.
Does language like ‘increasing lifetime value’ or ‘profitability’ or ‘increasing efficiencies’ impact their buying decision? If they do then it’s essential to use this language when defining your Unique Value Proposition. Is Customer Service a factor? Delivery? Reputation? Customability?
You have to be bold. Ask your customers and employees how they perceive your company and how they would define your UVP. This can be a humbling experience and is best accomplished by a professional facilitator.
As an aid in this process, ask yourself: “What is it about what we do that makes us better and why should anybody care?” Combining your honest answer to this question with some objectivity and customer input will get you far along the path to identifying and documenting your Unique Value Proposition.
One warning: be honest with yourself. Your Unique Value Proposition can not cover up deficiencies in your business or build capabilities you would like to have. Your Unique Value Proposition is not what you say or what you wish… your UVP is what you are.
Once your Unique Value Proposition is defined, use it throughout all your marketing, advertising, sales, and customer service communication.
NOTE: Unique Value Proposition is the same as Unique Selling Proposition or Unique Selling Point.
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www.brucemayhewconsulting.com I’d enjoy reading your comments on this post.
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