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5 Tips on Creating a Unique Value Proposition (UVP)

Submitted by on August 21, 2016 – 3:23 am

Does Your UVP Resonate?

Identifying and Meeting the Emotional Needs of Your Customers

Knowing your customers well is one of the most important success factors in your business. It’s the foundation for growth. Although an understanding of your customers is important in all aspects of your business, it’s particularly essential in crafting your unique value proposition.

As a reminder here is what a Unique Value Proposition (UVP) is and why you need one: A unique value proposition (UVP) is a statement that explains how your business is different from everyone else in the market. It tells your customers how you can better meet their needs and what makes you special. Your UVP essentially tells them why they should buy from you instead of from your competitors

To create a winning UVP, here is what you need to know about your customers:

1. Who They Are

You should know as much demographic information as possible, including things like age, gender, economic status, location, etc.

2. What They Need

You have to thoroughly understand their problems, questions and concerns. These are the things that prompt people to take action. They’re the problems you’re going to offer to resolve for customers.

3. What They Buy

Know your customers’ current suppliers. What companies are meeting their needs right now?

4. How They Buy

Find out about your customers’ buying habits. This includes how much they buy, when they buy, how they pay, and anything else you can discover about their purchasing patterns.

5.How They Feel.

Finally, beyond hard data you need to understand how your customers feel about their problems and purchases. What makes them feel good or bad about the shopping experience? What do they expect from companies and products? How do they feel about the companies they currently buy from, as well as about you?

All of the above will help you create a unique value proposition that resonates with your customers and helps them understand why they should buy from you.

 

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Mike Conkey

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