You and your UVP
Your Unique Value Proposition (UVP), identifies what makes your organization unique – what you can do that no one else can. It’s a key component of developing your brand. Defining your UVP should inform every aspect of your marketing strategy, including your logo design and visual brand, and all aspects of your marketing outreach, including website, investor relations presentation, branded materials, and so on. Not to mention, it informs your customers as to why they should pick you over your competitor.
Take the time upfront – it pays off!
Taking the time upfront to identify what makes your organization unique will:
- Ensure the most compelling and consistent messaging
- Target your ideal customer with a message that resonates
- Provide laser focus to your marketing efforts.
To put it another away, if your UVP is dead-on, your marketing dollars will be focused on the right customer at the right time with the right message – to generate efficient, effective business results.
Start with 3 key questions
#1 – Who is your ideal customer?
Identifying your ideal customer is critical. Knowing who they are and what they are looking for will allow you to tailor your message to meet their needs.
Think about your current customers and what they have in common – e.g. size and scope of business, or a specific industry. What are they are looking for from a company like yours – such as expertise in a category or industry, proprietary products or processes, an understanding of their pace of business, etc. Now think about your potential customers, perhaps even the customers of your competition. What do they have in common, what are their business needs and how can you meet them? Taking the time to truly identify your ideal customer will help you to focus your marketing dollars on the right customer.
#2 –What makes you unique?
By clearly defining what you offer that no on else can narrows in on the unique aspect of your UVP. It’s not all that you do – it’s what you do that makes you stand out against your competition.
Based on your ideal customer and their needs and your competition and what they offer, define your white space – your competitive advantage. This will anchor your UVP and define what is unique to you. Your marketing strategy will center on getting this message out to your ideal customer. This is how clearly defining your UVP ensures every marketing dollar is spent on the right message, to the right target audience.
#3 – Why should they believe you?
Giving proof of what makes you unique ensures your message is compelling and persuasive. Start with a long list and then … fine-tune. List everything you do and then focus on the things that matter most to your customers, their real reasons to believe.
If you have a product, or process or expertise that is unique to you or proprietary – see if you can brand it. The more you identify the things that only your organization can offer, the more likely your customer will be to put you at the top of their list. So take the time, sort through it all, and then pick the things that you do that your customer feels are most relevant and important. By doing this your message will be compelling, persuasive, and effective.
It’s true. Creating a killer UVP saves time and money and generates sales
I know, I hear you, it seems counter-intuitive! How can investing this time in what feels like an abstract exercise in marketing strategy save time? Plus have real financial results? A significant, sustainable pay-off?
Believe me, it does. Your clearly defined UVP helps you zero in on your ideal customer. This means less waste and better results with every marketing dollar. Your UVP keeps you authentic, and authentic resonates with your ideal customer. Your message will land successfully, they’ll hear it, and their response will be: These are the right people – they get it – and they get me.
Financially Responsible Marketing™ thoughts by Imaginis – this was published on Imaginisbd.com and written by Lisa Chicules