How to identify your UVP in 5 easy steps
As a customer, what makes you want to deal with one business over another when they both appear to offer the same product or service? Some might say lower prices, but the vast majority of people want to receive:
- Good customer SERVICE and…
- VALUE for money, not just a low price.
It’s the combination of the service and value you provide to the customer which make up your Unique Value Proposition(UVP). If you want to set yourself apart from your competition and win more business, it’s important to identify your UVP and then use it to streamline your marketing and increase sales.
Firstly, you need to be familiar with your target market, in particular, you need to identify who your ‘ideal customer’ is. Knowing your ideal customer and how you can address their specific needs and problems allows you to target your marketing, and provides a much greater chance of getting noticed by the people who will help increase your sales.
So, how do you identify your UVP? Consider the following questions:-
1. WIIFM – What’s in it for me? What is the biggest benefit of your product or service, i.e. how does it solve your ideal customer’s problem/s, address a need, or improve their life?
2. What’s unique – What do you offer your customers that is difficult to replicate? This might be the way you treat customers, your follow-up and customer contact system, your key people, the fact that you actually fulfil your promises, home delivery, etc…
3. Strengths – What are the strengths of your business?
4. Competitive edge – Why would a customer buy from you rather than the competition?
5. ASK – If you’re not sure of the answers to these questions, ASK your customers!
Let’s face it, the ultimate aim is for your business be your customer’s ONLY real choice. It’s helpful to answer the above questions for your own business, then do the same exercise on your competition.
Once you’ve established your UVP, you need to tell (or remind) all your current customers how you can address their needs or solve their problems, as they may not be familiar with your full range of your products or services. Reinforce this with a couple of strong testimonials that demonstrate how your product or service has helped overcome the customers’ problem.
It’s important to demonstrate HOW you can help customers, rather than simply telling them, ‘We also sell XYZ’. You’ll find it’s more cost-effective and easier to sell an additional product or service to an existing customer than it is to attract a new one.
Feel free to let me know what your UVP is … perhaps I can feature you and your UVP in a future article. Drop me an email here. I look forward to hearing from you.
Lyndall Guinery-Smith is The Professional Writer. She loves to write copy dedicated to attracting and engaging your customers, and improving your bottom line.
Lyndall has a strong background in Real Estate and is a specialist Property Copywriter. She happily works with clients all round Australia. Email her to arrange an obligation-free discussion about your latest project.