Do you agree with UVP, the unique value proposition? That is the answer to this question:
If I am your ideal client, why should I do business?
with you instead of thousands of competing lenders?
An important step that is often overlooked is making sure your UVP is targeting your ideal customers. You probably have a good idea of who your ideal customers are and what they need, so don’t try to be all things to all people. You will avoid creating a diffuse and unspecific UVP that does not resonate with anyone.
What makes a good UVP? What can a UVP do for you? Here’s a great example: why do people choose Geico? 15 minutes can save you 15% or more on car insurance. Why is this so amazing?
– It is short, memorable and easy to understand. Many people may even repeat it.
– It may be true for other car insurance companies, but Geico is the only one that created this great message and consistently promoted it to millions of drivers. That is unique.
– This UVP message wastes no time talking about the great insurance company that is Geico. Instead, quickly and clearly explain the potential benefits to potential customers: savings of 15% or more.
– The exchange of value is clearly established in advance. Prospects know that they are expected to spend 15 minutes on the phone providing information to a Geico representative to receive potential savings.
Equally important is what a UVP It is not. Definitely not a USP – Unique Sale Proposal. USPs are created from the perspective of the business, not the customer. Many people don’t like or trust sellers, and will wait until the last possible moment before contacting one. People will talk about how you helped them or the value you provided, but they won’t recommend you to someone because of your sales skills.
So what do you and your business offer prospects and customers that they can’t get anywhere else?
-What is unique about you, your services and your organization?
-Does your UVP clearly state how you help (not sell) your customers?
-Can you confidently state your UVP in one or two sentences?
-Does your UVP appear frequently in your marketing messages, such as Geico’s?
-Is your UVP recorded?
Finally, your UVP must be authentic, not just an advertising slogan. The research firm Marketing Experiments says that its UVP:
“It has to be what it DOES and what it IS. It can’t just be what it SAYS or WANT. Too often, companies write value propositions and mission statements that try to cover up the cracks in their real business… with words That doesn’t work. Your value proposition isn’t what you say…it’s who you are.”
