How to Develop a Unique Value Proposition?
We have answered the question what is a Unique Value Proposition, why is it so important for your business, here in this blog post. Here, we will be telling you how to develop a Unique Value Proposition.
Remember, rather than having a badly written Unique Value Proposition, it's far better not to have one at all. A poor UVP acts as a red flag against your business, it is taken as a sign of your lack of professionalism and means that you won’t be taken seriously – not by your customers, and certainly not by a venture capitalist.
So let’s talk about how to create a Unique Value Proposition that is guaranteed to get your attention, drive your conversions and help with faster business growth.
Your UVP should be interesting to the customer
A UVP is meant for the customer. It explains what your business does to them and explains what’s in it for them. The UVP should excite the customer about your business. It should not be written in a boring official way and it should engage the customer. For example, you should always call your business as “your company” not as “our company” – the idea is to show the customers that the business exists for them and them alone.
“What’s in it for me?”
That’s the question every UVP must answer. Any UVP that does not have a list of the most relevant features and benefits that compel a prospect to become a buying customer, isn’t worth the trouble of writing it. Does the UVP tell a customer at first glance what he stands to gain by buying from you and not from your competitors? If it doesn’t, just get rid of it. The UVP should not confuse the customer, but be a clear statement of intent.
How is it any different from the competition?
If you are in the business of selling, say, vacuum cleaners, why should a customer buy from you and not from Wal-Mart, which is one of the biggest companies on the planet? Or, for that matter, why shouldn’t she buy the same from eBay?
Your UVP should make it very clear why the customer should buy from you, and not from Wal-Mart or eBay, such as emphasizing on the fact that you offer the best discounts on vacuum cleaners, that you shall be offering a free service for 3 years, which no other seller does and so on.
The point is to emphasize on what makes you “unique” and special, and what differentiates you from the competition, even though the competition is way bigger and more powerful than you are or can ever be.
Don’t make promises you can’t keep
Never use superlatives such as “#1 in the UK” or “best in North America” if you can’t back up such statements with facts. Never over-promise and under-deliver. It is better to be humble and present a realistic picture of what your product can achieve. If you promise too much in your UVP, you will end up with unhappy and unsatisfied customers, which only means one thing – negative reviews. This is the last thing you want. So while you should be optimistic about your business and what it has to offer, you should also be very realistic.
Once done, you should place the Unique Value Proposition Prominently on the landing page. It should be the very first thing a visitor sees when he enters your site. It should be interesting enough to draw his attention and arouse his curiosity so that he sticks around for much longer and finds out what your business is all about and ‘what’s in it for him’.
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