When was the last time you reviewed your Unique Value Proposition, or made sure it applied to your new products or service? Now is a good time to make sure your proposition speaks to the audience you intend to serve.
It’s tough to experience the success you’ve looking for if you don’t have something that sets you apart from your competitors. In case you’re new to this concept, we are referring to your unique value proposition (UVP), also called your unique selling proposition. Why should someone buy from you vs. anyone else? What’s the extra value can you offer? Take a close look at what you want to offer to people as part of your business model, then be prepared to answer the following questions from the start of your business, and continuously thereafter. These seemingly easy questions need to be answered:
1. What do you offer?
Lay out the details of the product or service you plan to sell. What are its features? What does it do and what does it look like? For example, is it a 7-day e-course on how to set up a WordPress blog? Is it a 6-month coaching program that gives people direct access via email and Skype to you personally? Be very specific.
2. How does it solve customers’ problems?
How does your product offering solve your customers’ problems? State the problems your customer is facing, which you know from doing your market research. Describe how each feature of your product or service solves those problems. Think about how your customer would see your solution, not knowing you at all. If you can answer the question “What’s in it for me?” (WIIFM) from the customer’s point of view, you’re already halfway there.
3. What’s different about it?
You must create a product or service that is distinct from your competitors. While it is possible to be successful by creating a “me-too” business, it will be much more difficult. How is your solution different from other people’s solutions? Are you offering something extra, such as training or additional services? Do you offer your product in multiple formats, such as audio and video? Do you provide extra tools to make your solution easier to use? If you can’t identify any features that are different about your product, now is the time to go back and create something.
4. Why should someone buy from you versus your competitors?
This will be one of the most important parts of your sales copy. It will also be the toughest part of creating your UVP, by far. Connect the problems your potential customers are facing, the features of your product, and how they solve those problems. Then pull in your extra “proof” of why people should buy from you.
Your testimonials of how well your solution works is great social proof. You might have a track record of experience in your industry. You could also have great examples of your solution in action. Which of these are most important to your market? Pick one or use them all depending on what you think your prospects need to hear.
If you really understand what your target customers want, and what your competitors are already offering, you’ll be able to identify just what you can add remarkable value, because you took the time to do your market research. When you put these pieces together, you’ll have your Unique Value Proposition. What’s Your Unique Value Proposition?
Barbara Jemmott is the founder and business strategist at Your Entrepreneurial Spirit. Her 4-point YES to Customer Acquisition Program (C.A.P.) allows her to work her passion which is helping entrepreneurial women grow their audiences and income, online. She got here through her 20+ years of experience helping businesses understand and implement systems, strategies and procedures to increase productivity as well implement change and streamline operations. With experience and responsibilities to design, develop and deliver training for small to large technology training initiatives for Fortune 100 companies, she brings “Big Business” expertise to the small business space. Learn more about Your Entrepreneurial Spirit and the YES to Customer Acquisition Program at www.yourentrepreneurialspirit.com