Stand Out And Get Noticed
How to Develop Your Unique Value Proposition To Stand Out From The Crowd And Be Noticed
There are dozens of descriptions available about what a UVP actually is, but we think one of the best explanations comes from entrepreneur Michael Skok:
“In its simplest terms, a value proposition is a positioning statement that explains what benefit you provide for who and how you do it uniquely well. It describes your target buyer, the pain point you solve, and why you’re distinctly better than the alternatives.”
A compelling value proposition is a promise you make to your customers designed to convey how your business stands apart from your competition, and why your target audience should choose you and not your competitors.
The term Unique Value Proposition (UVP) can be best understood by breaking it down into its parts:
1. Unique – Refers to the characteristics of your product or service offering that distinguishes you from as many of your competitors as possible. Think about it…what is it about what you do that sets you apart? Take the time to really understand how and why you are different from your competition.
2. Value – is the intrinsic worth of your offering to your customers. In other words, it defines what your customers get for their money. If you’re having difficulty with this one, ask your customers to describe how your service or product has helped them. Take this input and translate it into several concise statements.
3. Proposition – This is your factual and truthful proposal to your customers. Being able to qualify and quantify your claims is very important and makes your Unique Value Proposition (UVP) that much stronger!
You are probably speaking your Unique Value Proposition – UVP to your customers, all-of-the-time, without even realizing it!
We do give you some examples later on in this course, but so you know where we are heading in the course and to show you what the course is all about before we start, here are a few examples.
Uber: “Get there: Your day belongs to you”
Product: Low-cost taxi service.
Target market: People who need low-cost, on-demand transportation.
Primary benefit: Eliminates the frustrations of travel.
What makes it unique? The proposition focuses on the needs of the customer by using the word “you.”
Evernote: “Remember Everything”
Product: App for organizing.
Target market: Busy individuals and professionals.
Primary benefit: Easy and integrated task management.
What makes itunique? The ability to organize your notes all in one place so you never forget a great idea.
Square: “Start Selling Today”
Product: Credit card processing services.
Target market: Small business owners.
Primary benefit: Easy payment processing regardless of location.
What makes it unique? The focus on immediacy.
We will also provide you with workbooks which are your opportunity to apply in your business what we have gone through in that lesson. We will let you know when to go through your workbook as we go through the videos.
So, stand tall, stand above the competition and be noticed! Create your own UVP to ensure you are heard above the roar of the competition.