By Alex Mangrolia
When it comes to your product or service your UVP is the promise of a value to be delivered and the believe from the customer that value will be experienced. What do I mean? Basically, this is where you tell a customer/client “this is why you should buy my product and/or services and this is what you will experience”.
Overall it’s a statement that will tell the client/customer what the heck they are getting. Think of this as your quick 30 second elevator pitch:
When customers/clients don’t know what they are purchasing from you, then they will just not purchase. Lets face it if you are selling a magical blue widget and you were asked to buy this magical blue widget, would you buy it without knowing what you are really getting? If you have answered, “Yes” then contact immediately! I have some swampland to sell you!
Overall when a customer knows your UVP, they tend to purchase more! They understand the benefits and the experience they will get.
I’m glad you asked! Remember how I kept harping on the SWOT analysis and the 5P’s of marketing to know what makes you different? Here’s where you pull that information out and start bringing it all together! So, if you were following along, then good job! If not, go back to “start and don’t collect $200”. You will need all of your in-depth marketing research to answer the questions below:
Phase 1: is where you internally (with yourself or your senior management team) decide what your unique differentiation is. How is your company and team different than the competition. (Remember this? It was in SWOT!). Now ask:
Phase 2: Creating what you have in phase 1 into a unique outbound message to your market. Make this confident, assured benefit statement to fit your market.
Once you have answered the above questions and have finished defining, evaluating and measuring you can be ready to build your UVP. Here is an overall framework you can use:
If you are having a tough time in creating your UVP here is what you can do:
1. Research what your competitors & potential customers/clients are saying. Your market will tell you what is acceptable and what isn’t acceptable. You need to understand what your customers are saying about your competition. You have to open your ears and really find those hidden opportunities.
2. Look at short term and long term opportunities: Your customers will tell you what they want short term (essentially fix my pain now) and long term (I would eventually like to have…).
3. Look outside your industry: Research what other successful companies are coming up with in terms of their UVP.
4. Know your SWOT: You need to know what your strengths are! Be really honest of what you can accomplish. If you can do it, then don’t say it!
5. Be original!
Make sure that your UVP is short and sweet. Don’t copy anyone! It has to be Unique to your business’s products/services. Trust me copy cats never prosper and you will just devaluate the heck out of your brand.
As said before at the bottom of all my articles, if you need some help! Then contact me! I promise I don’t bite.
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