The unique value proposition is your opportunity to affirm how and why your business stands out from its competitors—why are you the most skilled to meet the demands of your customer base?
So, what is it anyways?
Your unique value proposition serves as a powerful statement regarding the context in which your business emerged, addressing what makes you the forerunner in your industry. With a unique value proposition, you should convince your clients of your exceptional qualifications to draw them closer to your business.
“Without a differentiating factor in the form of a distinct value proposition, your offering runs the risk of becoming a commodity, lacking a unique and persuasive reason to buy. Deficient selling propositions can lead to a non-compelling strategy and weak growth potential. Absent a persuasive reason for customers to purchase, your company will lack convincing solutions to your prospects’ biggest problems.” Larry Myler
“One of the biggest reasons businesses struggle in today’s market is because they have weak value propositions. Over and over again, I hear people who sell deliver ineffective statements about the value customers get from working with their organization. It doesn’t matter if these sellers are from big companies, small firms, or are independent professionals. They just aren’t saying things that get prospective buyers to say, “Come on in. We need to meet.” Jill Konrath
This truly is your space to capture an audience—make use of it and excel!
How you can capitalize on an effective unique value proposition, too!
Crafting a powerful unique value proposition (UVP) is no easy feat, but drawing on four questions that The Pendolino Group has developed for our One Page Strategic Plan will aid your business in establishing a compelling UVP to make it the successful business you set out to achieve!
- What is your business?
- Are you a technology start up? A consulting firm? Are you marketing a new product or service?
- From where did you emerge?
- What is the context of your business—from where were you founded?
- From academia? From the technology sector?
- What are you uniquely designed to accomplish as a business?
- What is your product or service structured to deliver?
- How does the result of this look?
- Does your business deliver excellence? Inspire results?
Here are several examples of captivating UVPs
“Low price, wide selection, with added convenience, anytime, anywhere.” Amazon
“Dell will deliver a low cost, customized computer direct to your door!” Dell
“We are a global business consulting firm that emerged from a desire to do business differently. We bring people together with a passion to create inspired results.” The Pendolino Group
Why a unique value proposition matters in the digital age
Likely, your business is operating on an internet platform to widely reach your targeted audiences and advance your product or service. In an age where everything—business, WORDS—is web based, managing a strong online presence is more important than ever. Your landing page is the make or break space for capturing your consumer base.
Chao Liu, et al., at Microsoft Research discovered that the average web user will stay on a website for a mere ten seconds before scrolling to other content. Your business has ten seconds to intrigue your clients before they move to new page. In those ten seconds, you must present your gripping unique value proposition or your business fails.
Liu, et al., additionally found that with “good” unique value propositions (i.e. well defined, accessible, inspirational messages) displayed on the landing page of a business, the consumer is likely to remain on the page up to four minutes. A concise, powerful unique value proposition keeps potential customers on your business’s site longer—that is quantifiable success!
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