The Power of a Unique Value Proposition
A Unique Value Proposition (UVP) is an essential part of your brand and marketing strategy. It separates you from the competition and tells your audience that what you do will add value to their lives.
Inside the Jar Thinking
Many entrepreneurs and small business owners believe their customers care about things like the age of their company, their certifications, and what the office building looks like. It’s what I call “inside the jar thinking” because it’s focused on the company, not the customer. Inside the jar thinking produces UVPs like the following (these are real examples but I changed the names to protect the embarrassed):
For over 20 years, ABC Ironworks has been custom bending and shaping iron for decorative metal gates, custom driveway gates, wrought iron fence gates, and architectural railings.
XYZ Group is the largest manufacturer of Inno-Lok pre-zippered film in the United States. Our SQF Level 2 Certified 117,000 sq ft facility is located in Ridgefield Park, NJ.
LSMFT, Inc. is an Award Winning Accounting Firm. We were voted 2018 Finalist for Best Accounting Firm in Delaware by Readers of The News Journal. Furthermore, we were selected two years in a row for the 2017 Best of Newark Awards for Billing & Bookkeeping Service and now qualify for the Newark Business Hall of Fame!
There’s nothing wrong with providing information about your company’s heritage, processes, or awards, but don’t lead with them. The above examples do NOTHING to address the needs of the customer. In fact, they don’t address the customer at all.
What’s in it for me?
Customers want to know how you can add value to THEIR lives. If you don’t communicate that quickly, clearly, and in a compelling way, they’ll move on to your competition. Think of it like speed dating; potential customers want to know, “Are you a good match for me, or should I keep looking?”
The truth is, your products and services will not be a good match for everyone. You have a very specific audience to whom you can add value. An effective UVP will appeal to your target audience, helping you attract ideal customers and differentiate your business from the competition. With a bad UVP, you’re marketing to everyone and attracting no one.
How to discover Your UVP
The best way to discover the value you provide to your customers is to ask them. It’s amazingly simple but difficult for some business owners to do. When I’m helping a client build their brand, one of the things I ask them to do is send a one-sentence email to their top 25 clients that asks, “Why do you work with me instead of someone else?” My request is usually greeted by either a dismissive chuckle, a confused look, or sheer terror. But, those clients that take up the challenge are pleased by the responses they receive. Some of the responses confirm things they already knew but there are always revelations.
A contractor I was working with was amazed to discover that what his customers care most about is his cleanliness. They assume he will be using quality materials and remodel their kitchens according to building codes, but the biggest value to them is that there’s not an inch of dust on everything in their house when the contractor is finished. His UVP: “Your house will be cleaner after we’re done than before we arrived.”
I developed a new brand for a mother-daughter travel company who are passionate about the benefits of travel for a person’s emotional and mental state, as well as helping them connect to the world. Finding their clients the cheapest fares to Europe is less important than helping them find peace of mind. Their UVP: “Offering unique travel experiences that help people reconnect with themselves and others.”
I’m currently working with a seasoned IT professional who is tired of the abuses within the industry and wants to distinguish his firm from the testosterone-ladened IT companies that charge too much money for too little service and intimidate clients with techno-jargon. His UVP: “Enlightening and delighting business owners by making IT friendly and accessible.”
You’re not the hero in this story
A well-crafted Unique Value Proposition will attract a right-fit audience for your product or service. But you need to understand that the hero of your story is the customer, not you. You’re the guide, providing solutions to help them successfully complete their hero’s journey. And the sooner you calibrate your mindset to that truth, the more compelling your UVP will be.
If you’re ready to think “outside the jar” and develop a compelling UVP that focuses on the customer, let’s connect.