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It’s common knowledge that the market is becoming increasingly competitive, and making your business stand out has become essential. Some strategies, such as Unique Value Proposition – UVP, have become quite necessary in this scenario.
If you don’t know much about this concept or want to learn how it can help your business, keep reading! An effective unique value proposition can contribute to attracting the right customers and boosting your sales.
What is a Unique Value Proposition, or UVP?
Unique Value Proposition (UVP), in short, defines what a company delivers. It’s a brand’s essence, which shows what its unique feature is, i.e., what makes it stand out in comparison to its competitors in the market.
The goal of the UVP is to demonstrate a company’s uniqueness by briefly showing what it is, what pain it solves, what is the segmentation of the audience to be impacted, and how it does this.
Why is it important to define your business’ UVP?
Having a defined Unique Value Proposition is critical for a company since it increases your brand’s perceived value, providing it with better market positioning.
In addition, the UVP is a great strategy to unify the discourse within the company itself. With this, all marketing campaigns and actions, the language style used, and sales pitch, for example, will be prepared with this proposal in mind.
This makes the company convey greater authority and consistency to the audience. And, once again, stand out from your competitors.
How to find your business’ Unique Value Proposition
Now, you’ve understood that building a unique value proposition is indispensable and that having this sentence provides several benefits for your business.
But in this article, we’ll show you how you can find your business’ UVP, considering 5 essential guidelines.
1. Analyze your competitors
First and foremost, a good way to start your proposal is to analyze your competition. Because, just knowing your company’s goals without understanding what value other companies are delivering to the market isn’t enough.
But, pay attention to this: analyzing your competitors doesn’t mean copying them. On the contrary, it means that you need to differentiate yourself from what is already being offered, and more, make your proposal more attractive and interesting to your audience.
2. Understand your persona
Knowing your audience’s profile and pains through a well-defined buyer persona is essential in any commercial strategy. It helps understand how the brand can solve this pain.
Furthermore, when you have this persona defined, your efforts will be directed by the interests of this specific audience. Including the creation of your UVP. In other words, the very essence of your brand needs to address the needs and desires of this persona directly.
3. Know your brand and the solutions you offer
Something that many entrepreneurs still struggle with is actually knowing their business. It may seem somewhat controversial, but mastering your solutions and putting this understanding into a few words isn’t an easy task.
For this reason, it’s important to take the time to reflect on and study your own company. Because by doing so, you will understand what your company is really proposing to deliver, and your communication will become clearer and targeted.
4. Be focused and objective
It’s also important to focus on serving a specific segment of the audience and address a specific pain or need, rather than trying to embrace a very broad user base. This makes it difficult to identify and communicate the UVP.
Thus, a good tip is to identify the main demand your company will be “targeting”, how it will solve this problem, and for whom.
Other solutions may emerge over time, but the ultimate purpose of your activities must follow a single goal so that your audience clearly understands what your Unique Value Proposition is and is attracted by it.
5. Put yourself in the audience’s shoes
In the process of building a UVP, the exercise of putting yourself in the shoes of others is quite valuable. This is a way of seeing your business from a different perspective than the one you’re used to.
So, it’s worth putting empathy into practice and trying to see the world from the customer’s perspective. This will help you understand precisely what your brand or product’s key unique features are, making you deliver a proposition that’s even more relevant.
Example of a Single Value Proposition
It’s possible to get inspired by a formula to develop a Unique Value Proposition. The idea is to think of a sentence, taking into account the topics that were pointed out above, as follows:
“The product offers the audience the benefit of no longer suffering because of the problem or problems through the X method.”
For example, let’s consider a fictitious company that sells skincare products. The brand “Care” could have a UVP such as:
“The Care product line offers wellness and health for modern women to stop suffering from not having enough time to care for their skin, through our 5-minute daily routine.“
The underlined words show the keywords, which are the expressions responsible for making it clear what the product is, what it offers, for whom it is, what pain it solves, and how it solves it.
That’s it! The brand’s objective and unique feature is summarized in a single sentence.
Attract the right audience
Having a well-structured Unique Value Proposition makes all the difference for your business. Besides positioning the brand in a solid manner, and showing authority to the market, it provides a guide for the entire company to work towards a single goal.
In this manner, communication will be aligned, projects will be more objective and clear, and your purpose will make much more sense both internally and externally.
With an effective UVP, the right audience will become increasingly attracted to your brand. And from there on, your mission will be to turn those new customers into fans. Because, merely attracting them isn’t enough. Your customers need to keep finding value in your solution.
In fact, for your company to convert your consumers into your brand promoters, we have an article to help you learn everything about customer loyalty. Be sure to check it out!