What could be a more powerful force in any digital marketing campaign than your unique value proposition? Nothing.
Your unique value proposition sets you apart from the competition. It puts you several notches above them.
What is a unique value proposition?
A unique value proposition or UVP is an unequivocal statement concisely summarizing how your product or service can solve your customers’ problems or can satisfy their needs in a peculiar manner and cannot be equaled by your competitors.
UVP is created based on the analysis and understanding of what benefits that your product/service can offer your customers. These benefits should be distinctly unique and clearly differentiated from your competitors.
Your product/service benefits should be perceived by your customers to be providing net value to them that is much better than the competition.
Using again our office chair example, their UVP may be stated this way:
“Would you rather have a low-priced office chair or our office chair that provides long-term employee comfort and productivity?”
Yes. It can be expressed as a question directed at their target market.
The power behind every digital marketing campaign?
UVP is a business’ survival tool. You have to set up and operate your business based on your UVP.
Can you think of any other way to convince your customers to buy your product/service?
If your product/service offering is just about the same as anybody else, there is no compelling reason why customers would prefer it rather than your competitors’.
And, if nobody buys your product/service, what happens to your business?
Your UVP states that your product/service is better than those of competitors and this is the reason why customers should buy from you.
Your product/service may be of higher quality as defined by its features giving the customers long-lasting utility value, or yours may have the lowest price in the market for the same features resulting in significant savings for the buyers, or yours have unique features providing end-users higher productivity they cannot obtain from anywhere else.
Whatever your UVP is, it is the driving force that makes customers buy from you instead of your competitors. It is the foundation of your marketing success.
A sustainable UVP ensures the long-term survival of your business.
How do you create a UVP that boosts your competitive edge?
A good UVP is a result of the following:
- A thorough understanding of your target market and your buyer persona
You must identify and clearly understand your target customer’s specific problems to be solved and particular needs to be satisfied. With such clarity of understanding, you can adapt your product/service to effectively address these problems/needs.
You must get an insight also on what affects their perception as to how best these problems/needs are addressed and what influences their decision-making in choosing a solution.
- Proper crafting of your product/service benefits
Knowing how to address your target customer’s problems/needs, you can then determine what benefits they can obtain from your product’s/service’s utility value.
You can then express these benefits in a way that strongly appeals to the beliefs, interest, behavior, and preferences of your target customers based on the demographic and psychographic data gathered during your market study.
- Accurate analysis of the competition
You cannot say for sure what distinguishes your product/service from your competitors if you do not know with a high degree of accuracy their product/service features, advantages, and benefits, their marketing strengths and weaknesses, and strategic company resources and capabilities.
It takes a serious competitor analysis. Failure to do this consequently results in costly mistaken assumptions and downright embarrassment. You must have contingency plans in case your competitors try to take down your competitive advantage.
How do you communicate your UVP to your target customers?
Your UVP must be communicated unambiguously to your target customers.
It should be easy to understand without a need for further explanation.
The UVP should be stated in a single sentence as concise as possible but clearly conveying unique benefits instantly.
It should be prominently shown on your marketing channels and all customer touch points.
The copy of your UVP may include a headline (the UVP itself), a sub-heading that briefly explains the unique benefits, and some bullet points to identify the features.
Then you must develop a creative visual representation of your UVP. It can be a picture, drawing, animation, or video presentation.
Your written and visual content should be in agreement and support each other for a distinct delivery of your UVP. How you present your UVP should in itself be unique to your business.
Your UVP is a promise you are making to your customers. It is your brand promise. As such, your product/service should deliver as promised. A promise appeals to your customer’s sense of trust and integrity. It creates a strong bond with your customers to the exclusion of your competitors.
We welcome your questions, comments, or suggestions. You may also inquire more about UVP.