If there's one thing to remember about crafting a unique value proposition, it's that it needs to actually be unique. It needs to be something that differentiates your company. That’s what creates a loyal customer base who will stay with you.
But how unique do you need to be? Do you have to offer something no one else in the world is offering? It's pretty much impossible to do that, especially with all the options the internet gives consumers. But the good news is that you don't have to reinvent the wheel. Your offering doesn't have to be completely new but it needs to be unique in the customer's mind. That's what is important.
A great way to make your company stand out is to look at similar companies. What makes them unique? Most companies within the same market offer similar benefits with just one twist that makes them different. Find that difference within your organization, and stay laser-focused on communicating it.
Five tips for communicating your company's unique value proposition:
➽ Stay focused – It might be that your UVP is either focused with an odd specificity that won't serve you, or—more often—its scope is just too wide. If your UVP's focus is too narrow or too broad, it can be a problem. If it's too broad, you're casting your net too wide and your offer won't appeal to anyone. If the message is too narrow, it will alienate or shut people out. Make it specific but not so narrow that your market is reduced to 10 people! The key is finding balance.
➽ Find the similarities, then differentiate – The U in UVP stands for 'unique' and that's what your proposition needs to be. This means that it has to stand out in your niche and offer something that's different from your competitors. Monitor your competitors regularly to see what they offer so that you can figure out the best use of your strengths to set yourself apart.
➽ Keep it simple and easy to remember – Your UVP is for your customers to easily understand at a glance, so it should be quick and easy to read. If your customers can't understand your UVP in a matter of a few seconds, then it's too long. Don’t use vague wording, and avoid terms a casual reader wouldn't understand. Keep it simple and to the point.
➽ Match the tone and tenor of your market – The message of your UVP needs to resonate with your market. Otherwise, you'll drive them off. It needs to appeal to your market's desires and feelings. In order to do this, make an effort to understand your market. Know your customers and how they feel about the companies they patronize. Try to get at the root of why they feel a certain way about what they buy, and then cater to that with your message.
➽ Revisit and modify regularly – Finally, a unique value proposition will change over time based on industry trends and market conditions. Tastes and cultural values change as the years go by, so be ready for when it's time to update yours. Keep an eye on the trends in your niche and modify accordingly. As the interests and desires of your customers change, so should your UVP.