If you are online, you see advertisements for many products and services every day. When you shop, you can find hundreds of products. Most of them you will ignore and not buy. But for a select few, you have to take another step and shop around.
What is the difference between the products you buy and the products you ignore? Usually, it’s a unique value (UVP).
As a business owner, a well-defined UVP can be the key to winning over your competitors.
What is a unique value proposition (UVP)?
Basically, a unique value proposition, sometimes called a unique selling proposition (USP), tells your audience why they should buy more of your product or service. of competitors.
However, this concept seems to be easily misunderstood.
UVP is customer oriented, but not a tagline or slogan. Or it’s not an internal document, such as an information statement or an input statement. Its purpose is to give your ideal customer a clear understanding of three things: what your product/service offers, why they need it, and why yours is different from your competitors. In short: what?, why that?, why us?
What is a special benefit plan?
The options are full of customers. Imagine you’re shopping for a pair of new headphones. There are hundreds of brands and models of headphones to choose from, and hundreds of websites dedicated to reviewing and evaluating them.
UVP helps customers understand why the options you offer are good for them. When you apply it to marketing and apply it to your customer experience, it helps customers make decisions, and sometimes helps them explain their decisions to others. A good description can give them confidence in their purchase and even help them become brand advocates.
Ultimately, as a business owner, your UVP sets your company apart from the rest.
To understand your unique value proposition, you need to understand what you do well, what your customers want/need, and how you stand out. The following four-step process guides you through checking these materials and turning them into a document of your UVP.
- List the benefits of your product or service
Make sure you understand what you are doing. One way to do this is to use the “FOB statement”: strategy, value, value. List each feature of your product or service, and for each, say what that feature accomplishes (value) and why the customer will appreciate it (value).
For example, a FAB for a headphone model might be:
- Features: ear pads
- Pros: it’s easy to use
- Pros: a longer and more enjoyable listening session
- Research your customers
Customer research helps you understand your customers’ wants and needs. Start by doing market research on your audience, and if you have existing customers, interview them to find out why they bought from you and what their pain points are. This can take the form of a buyer.
Make sure you really understand their needs. Often customers will first say that they bought something for practical reasons (“I need headphones to listen to music while I work”), but their real motivations are emotional and material-based. goals or fears (“If I can get rid of the distractions in my noisy office). , I can do a better job” or “I’m afraid that if I bought cheap headphones and they’re going to break”).
Also ask them questions about other products/services they have reviewed, which will be addressed in a separate process.
- Analyze your competitors
Analyzing your competitors is an important part of creating your UVP – it tells how your product can stand out. You may have found an unmet customer need with a great product to meet it, but if another product value meets that need in the same way, it will be difficult for you to succeed.
For example, if you are new to the mobile phone market, you may see customers asking for seamless Bluetooth connectivity on their phones. But if your customers are Apple users, you will have a hard time getting past Apple’s AirPods line, which is an important part of Apple’s UVP.
During your research, look for at least three well-known competitors that your client will consider. For each, list the characteristics and how to talk to them. After you’ve done that, look for those gaps: what advantages does your product/service have over your competitors’ products/services? This is your starting point for the next step.
If you’re struggling to identify unique benefits, you may need to reframe how you think about “benefits.” For example, perhaps the tangible benefits of your product are the same as those of your competitors, but what about less tangible benefits, such as brand influence? If your product brand experience can make a customer feel certain
- Write it and test it
Once you have completed the three exercises above, you should have a clear idea of what you do well, what your customers want/need, and how you can stand out. Now it’s time to put it all together in a UVP statement.
A written UVP can take many forms. Some marketers prefer full one-page documents, some prefer paragraph-supported headlines. The simplest and most effective form of UVP is a two- to three-sentence description.
It’s hard to nail your UVP on the first try, so try to do a study with multiple versions. Focus on understanding rather than intelligence, and be sure to cover the following three points: what, why, why us.
Once you have a few solid builds, test your UVP to see what works best with your customers before you finalize it. Testing can include showing it to customers in interviews, but for more accurate results, you can also do a more scientific method by testing the UVP version on the product page, or testing with two ads and PPC ads with corresponding failures . page.
Three clear examples of UVP
Onsen Towels: “More towels, less lint. Heavy weight, attractive and satisfying.
Onsen is known for its “waffle weave” quilt design, but that’s just one feature. UVP focuses on the advantages and disadvantages of various services offered to customers.
Gantri Light: “These beautiful 3D printed lights are the bane of Ikea.”
Gantri’s point of difference is to be unique. It has many features to show for it: its creative collaboration, its 3D printing, its designs. But in this case, nothing says it as much as the word “block,” putting the brand as a block that all its customers go to. Competitive analysis doesn’t always work in UVP, but here it does.
Ember Mug: “Ember’s patented technology allows you to set the exact temperature of your hot drink, so you can enjoy your drink from the first sip to the last stop.”
Ember’s heating system is a brand new product, so it should focus more on why it does it (“first sip to last drop”) than why we do it (“patented technology”).