What is a Unique Value Proposition?
A unique value proposition accurately conveys the value you offer to prospective customers. It can also be used to market job opportunities to employees, to sell partnership opportunities to other companies, or to obtain funding or financing.
What’s Your Unique Value?
One question I ask clients is, “What value do you offer your customers that results in them buying from you instead of a competitor?” I’m surprised by how often the answer is, “I don’t know.” But then, given a few minutes to think about it, they almost always come up with some great ideas.
Think about it for a minute. Why do your customers buy from you?
The answer isn’t a list of features described in the latest industry jargon. Think about how you improve your customer’s business or life. And think about it in language your customer would use. It’s something your customer would say about you. “I shop here because… “ What would your customers say?
Some other ways to approach value include:
- Think about what you do, who you do it for, what are the benefits to your customer, and what is unique about your product or service.
- Consider your strengths – what you can and do actually deliver.
- Think about both short- and long-term benefits.
- Consider some general categories of value. Those might include quality, value for price, luxury or affluence, uniqueness, and essential / must have. An essential could be food, medicine, shelter, insurance, or it could be a “must have” hobby supply or business tool.
- Do some market and competitor research. How do your competitors describe their unique value? You can even look outside your market for ideas.
To get to deeper levels of value, for each attribute, ask, “Why is that important?” If the benefit is that you provide a weekly project update, ask “Why are weekly updates important to my customers?” Maybe it’s because it saves them time when they don’t have to ask; maybe it’s because they can use your information in a report to their boss; or maybe it’s because it gives them peace of mind that the project is on track and they can enjoy their weekend instead of worrying.
Writing Your Unique Value Proposition
When you begin to put your unique value proposition down on paper, write it in your customer’s language with words real people would use in conversation, not industry jargon.
It could be a single sentence or a bulleted list of benefits – or the value could be highlighted with an appropriate image.
Some examples:
- Same day appointments
- Free pickup and delivery
- Toll-free emergency service 24 hours a day
- Our successful proposals have resulted in more than $34 million in funding for nonprofits.
- We only repair what’s needed.
- Send your custom obsolete cables to us – we’ll reverse-engineer them for you and help you keep your old equipment running.
- Order today; in stock tomorrow.
- Expert startup consulting gets you working faster.
- Creative alternative fee arrangements
- 150 years serving Springfield
- 79 roofers mean every job is “done in a day”
- We allocate funds carefully to address a broad range of community needs while monitoring programs to ensure efficient operations.
- Flexible touchscreen programming allows you to use equipment in multiple situations
- Free shipping; free return shipping
- Guaranteed installation date or 1 month free
This is a collection from different businesses and organizations – it’s difficult to imagine a business that would use all of these!
How to Use Your Unique Value Statement
When planning a client’s website, I like to put unique values front and center. Unique value statements should be reinforced by website content and other marketing, with a message that is consistent throughout. Your value message can be supported by customer testimonials, online reviews, your qualifications and experience, staff certifications, your portfolio, case studies, blog postings, and whitepapers. You can use it in sales pitches and as part of your elevator speech.
Why is Having a UVP Important?
It makes clear to potential customers what benefits they will enjoy from doing business with you and why they should buy from you instead of your competitor, increasing leads and sales for effective internet marketing.
It helps inform additional marketing and sales efforts so your marketing has a consistent value message and your sales pitches are in sync with your marketing.