The Importance of Your Differences Cannot be Overstated!
As the title of this post suggests, You Need a Unique Value Proposition – UVP! If you want to do more business, more successfully on the Internet, then you definitely need a Unique Value Proposition – UVP.
Your success as a Small Business on the Internet is heavily dependent upon your ability to find more of the ‘right’ customers. Equally important is giving those potential customers the ability to find you!
Once found, it is essential that you communicate with these new business friends in a way that engenders trust! You are trying to get them to Validate you. You are seeking their confirmation that, you are indeed The-Go-To-Guys, the Center Of Influence in your industry.
And how do you do that, pray tell?
Step 1) Develop your Unique Value Proposition
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 distinguish 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 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 – Webster defines proposition as; A statement containing only logical constants and having a fixed truth or value. That pretty much sums it up!
It 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!
The Internet is a tremendous resource for gaining a better understanding for the UVP concept. There are numerous examples that you can find online through a search using any search engine, on the terms “Unique Value Proposition.” Using the results of your search as a model, construct your own Unique Value Proposition.
Step 2) WRITE IT DOWN
Documenting your Unique Value Proposition and making it easy to understand is very important. As with goals, the elements of your Unique Value Proposition – UVP are not real until you have written them down.
Don’t miss this… WRITE IT DOWN! Ok, so that’s the second time you’ve seen WRITE IT DOWN (make that 3 times) in all caps and bolded… Guess why…Because it’s that important!
When you write something down, on a piece of paper, using a pen or pencil, it becomes real. You physically created it using your mind and your muscles. I suppose you could write it on your wall with a “Sharpie” if you wanted to.
Once you have written it down, place it somewhere that you are sure to see it. Reading it on a regular basis is an excellent way to reinforce it and to test its accuracy. Ultimately, your customer will determine how well you have captured your Unique Value.
Pro Tip: Ask yourself these questions:
1. “What is it about what we do that makes us different (better)?”
2. “Why should our customers care?”
Combining your honest answer to these two question with some objectivity and customer feedback will get you far along the path toward identifying and documenting your Unique Value Proposition (UVP).
Pro Tip: Use Mind Mapping to capture your Unique Value Proposition
1. Write your product or service features in the center of separate pieces of paper (made from trees). Once you have documented the features in this way, draw (with a pen or pencil) a circle around each one.
2. Then, write the benefits that your customers receive from that feature in smaller circles, surrounding the center. Connect the circles with lines, like the spokes are connected to the hub of a wheel. When finished, evaluate them all to ensure that they accurately represent your offering.
3. Compile each feature map page into one sentence. Then, combine the sentences into an itemized list or paragraph.
Congratulations! You have just created your Unique Value Proposition – UVP.
Your customer will be the ultimate judge of the accuracy of your UVP. Take the time to test your new-found focus by sending it to some of your better, longer term customers to gain their insights.
Your customer’s input will provide you with the finer points that will allow you to refine and sharpen your Unique Value Proposition even further.