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How to Write the Perfect Unique Value Proposition
Published at 28 October 2023
Any time you get your product or service in front of customers you’re entering a bustling marketplace packed full of other businesses fighting to take their money and attention. Every stallholder has the same goal, each shouting louder than the last, and [with just 7 seconds to make a first impression](https://www.forbes.com/sites/serenitygibbons/2018/06/19/you-have-7-seconds-to-make-a-first-impression-heres-how-to-succeed/#33d4aa756c20, you need to have your messaging done right.
So, how do you make your voice heard? Enter the Unique Value Proposition (UVP) – your megaphone that turns up the volume on what makes your business special.
What is a Unique Value Proposition?
A Unique Value Proposition is a clear, concise statement that answers your customers’ question of: *“Why should I choose you?”.* It’s a sentence that screams ‘We do this!’ and pinpoints what sets your products or services apart from the crowd and highlights how you’ll change or improve your customers life.
Key Elements of a Unique Value Proposition:
- Clarity: A UVP needs to be clear about your offer and the benefits. If it takes you more than a few words to tell someone precisely what you can do for them, you’ve lost them.
- Uniqueness: It should spotlight what sets you apart from the competition. “We have the best burgers in town!” - Do you? Because three other burger joints say exactly the same thing. Try harder.
- Value: It should emphasise the value you bring to your customers. Value, in this context, doesn’t refer to value for money, rather the outcome that your product or service creates and the benefit it will have to your customers life.
- Relevance: It should precisely address your customers’ needs and challenges. You’ll have to deeply understand your customers to understand precisely what they need. The UVP is a simply a description of your solution.
The Significance of a Unique Value Proposition
In the bustling marketplace of entrepreneurship, a well-crafted UVP is your golden ticket:
- Stand Out from the Crowd: It differentiates your business in a saturated market, making you memorable.
- Customer Magnet: A compelling UVP grabs your customers’ attention by showcasing the unique benefits you offer them.
- Guide for Decision-Making: And in addition to what your UVP will do for your customers, it will act as a compass for you, guiding your business decisions and keeping you focused on delivering value.
Integrating Your Unique Value Proposition into Your Business Plan
Your Unique Value Proposition is a key element in your business plan and your investor pitch. It’s the spark that ignites interest among investors and sets the tone for your entire strategy.
- It’s your Foundation Stone: The UVP lays the foundation for your business plan, underpinning your strategy, marketing, and operations. Consider it as almost philosophical - Why do you even exist?
- It will increase your investor appeal: Incorporate your UVP into your business plan to attract investors by showcasing what makes your venture a unique investment opportunity.
- It will keep you aligned with your strategy: Ensure your business plan aligns with your UVP, reinforcing the unique value and benefits you aim to deliver.
Crafting a Compelling Unique Value Proposition
So, how do you start to write your own UVP? Start by doing your prep. Let’s get the ingredients together. Brainstorm each of the following elements.
- Spotlight the Benefits: Focus on the benefits and how your customers life will be different after they’ve purchased your product or service and don’t just focus on the features.
- Be Clear and Concise: Clarity is king. Be succinct and avoid jargon.
- Communicate with Passion: Let your enthusiasm and belief in your product or service shine through.
Examples of Great Unique Value Propositions
Have you written out a sentence that ticks all the boxes listed above? Great! Now, half the length. Done that? Great! Now, half it again! The best UVPs are unbelievably concise.
Here are some of the best:
* UVP: "Slack is where work happens."
* Why It’s Great: This UVP is clear, concise, and compelling. It positions Slack as the go-to platform for all things work-related, highlighting its utility as a central hub for workplace communication and collaboration.
* UVP: "Send better email. Sell more stuff."
* Why It’s Great: Mailchimp’s UVP is straightforward and to the point, clearly communicating the benefits of using their service. It promises improved email marketing, which in turn, leads to increased sales, addressing the needs of businesses directly.
* UVP: "Remember Everything."
* Why It’s Great: Evernote’s UVP is incredibly concise, yet it effectively communicates the core benefit of the product. It speaks to a universal need to remember and organise information, positioning Evernote as an essential tool for note-taking and organization.
These UVPs are effective because they are clear, focused on the customer’s needs, and articulate the unique value that the product or service provides, setting the brand apart from the competition.
Whether you’re crystalising your business idea or writing out your business plan, a Unique Value Proposition is not just a statement; it’s your business’s identity. Crafting a compelling UVP is pivotal in distinguishing your venture, attracting customers, and guiding your business towards success and growth.
Put yourself in your customers’ shoes. Ask them what their problem is. Ask them what their perfect solution would do, in a sentence, and that is what your UVP should be.
Boa Sorte, Brave Entrepreneurs!