A good Unique Value Proposition will eliminate the “So What’s.” Let’s just take a super simple look at a UVP.
Unique - To be unique is to be unlike others. If your proposition could be just as easily be said by any of your competitors, it isn’t unique. It must fill a void that others don’t. Maybe you have the highest quality, maybe you combine two services where others only have one, maybe you can deliver quicker, you have broader reach, better warranties, etc. If you can’t honestly claim and fulfill the market in a way others can’t you aren’t unique and you will at best be fighting on equal ground with others for the same piece of the pie.
Value - Having value means that something has worth to someone. A proposition that is unique but has no value, is really just weird and will gain a big “So What!” It is great if it can be measured or quantified. The value should be obvious; but, make sure you tell your clients and prospects what the value is. If you can’t put it into words, how will they be able to?
Are your products or services any different than your competitions? Really? How so?
How long would it take you to explain the differences?
Do your prospects or even your clients know how you’re different?
Do your employees know the difference? Can they explain it?
Does your marketing reinforce it?
How do you measure the difference between your value and that of the competition?
As a prospective client, why would I choose you over the competition?
After a real, honest consideration of these questions you are struggling with answers, you probably don’t have a well-defined Unique Value Proposition (UVP). A UVP is one of the most talked about but underutilized marketing tools. The reason is simple, either a business has no real differentiation or no one has gone through the mental exercise of defining it. Even if the business leader has a clearly defined UVP, it is another challenge to get it into the hearts and minds of others in the business.
The fact that it is difficult and most businesses don’t utilize it is exactly what makes it so effective for those few businesses that do leverage a UVP throughout sales, marketing and customer service. When every aspect of their internal and external communication reinforces the differentiating value they have over the competition, they will stand out and gain an inordinate share of the market.
So, how do you create a UVP? Come back for Part 2.
There is a make or break moment for every new client. It is the moment that someone decides if they are going to invest time, energy, money, etc. with you or your business. Whichever decision is made, that decision reinforces future decisions. If they decided not to move forward, it weakens the chance of them doing it in the future because they will begin to look harder at alternatives. If they move forward, it makes it easier to do it again because they will gain another level of familiarity with you and there will be fewer unknowns in the future. So this make or break moment is critical. Why not make it as easy as possible for them to say yes?
Go to the pool and watch as people arrive. What do most people do (nine and ten year old boys not included)? They stick their toe in the water. Why? They want to know to expect. So why don’t we give them a toe-in-the-water option? Can you think of some kind of transaction or interchange that is the equivalent to the toe in the water? Maybe it is a small transaction with very little money and low risk. Maybe it is a small investment of time and no money. What do you have or what can you do to influence this make or break moment?