Explore Deeper The Unique Value Proposition (The UVP Concept)
/Explore Deeper The Unique Value Proposition (The UVP Concept)
In business, standing out more favorably, advantageously and appealingly, in the prospect’s or client’s eyes is a large part of being chosen over your competition. The more succinctly you communicate what makes you the better choice, the more often you will be chosen over your competition. You must consciously, consistently, and continuously create maximum and real, perceived advantage in the minds of your staff, clients, prospects and centers of influence (COIs).
Developing, identifying and incorporating your personal (firm’s) Unique Value Proposition (UVP) into everything you do is challenging. But the rewards will far exceed the efforts. It will give you differentiation from, distinction from and the advantage over everyone in your market
So, don’t hurry. Measure twice and cut once.
Let’s explore deeper… THE UVP CONCEPT
When you ask most business owners or their staff to articulate what they are about, clearly and concisely, in 60 seconds or less, most are unable to do so.
Why?
Most businesses have no UVP, only a “me too”, nondescript elevator pitch style explanation. There’s nothing unique, nothing distinct, no promise of great value or benefit from the eyes of the prospect or client – just buy from us because we want you to.
Want more than your fair share of your market or niche?
It is not surprising that businesses lacking a UVP just get by. Why should they get more than their fair share of the market if they offer nothing unique or special? The small minority of business professionals who adopt a UVP have a profound advantage over those who do not.
Do you think your firm has something special or different to offer?
How do you choose a UVP? Let’s go deeper.
You must first identify which needs are going unfulfilled in your industry. You must think of these needs from the eye (perspective) of the prospect or client. They must somehow be directly connected to impacting the prospect or client’s quality of life and income and communicated to create an awareness of such in the prospect or client’s mind. Focus on the market need that is sorely lacking – provided you keep the promise you make. Be sure it’s unique and that you consistently fulfill it for your prospects, clients, staff and Centers of Influence.
The more measurable, comparable, demonstrable or quantifiable your advantage, the more powerful it is.
How to use the UVP
At this point you should have developed the awareness that your newly adopted UVP must be integrated into the entire fabric of your company. It should be the foundation of all communication, both verbal and written. When calling on prospects, everything you discuss should reinforce your UVP.
You must be able to explain your UVP to anyone, anywhere in a clear and concise statement that encourages further discussion and/or inquiry. Always help the prospect understand how it is in their best interest to take advantage of your UVP. Be ready to explain it in terms of how it will impact their quality of life and income.
Do not make the mistake of assuming they will make the connection.
Don’t try to wing it! Do your homework. Create word tracks that express the essence of your UVP. Make sure your entire staff is capable of powerfully expressing your UVP in 30 seconds, and then compellingly state how the prospect would benefit from their perception of value. This is powerful!
Be Selective, you cannot appeal to everybody.
There is a huge gulf between the upscale buyer and the bargain seeker. Which market niche do you want to stake out as your own? There is no reason that you cannot, by creating different UVPs, develop different niches or divisions within your company that compete against one another.
The Cornerstone
Your UVP will become the foundation for the value you choose to bring to the marketplace, and will become a benchmark for operations, marketing, selling, customer relations, production and day to day problem solving.
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