A business's UVP is a concise statement on the value a business offers through its products and/or services.
This proposition is created to clearly communicate the benefits of the product and/or service to the prospective client.
Components of a strong and effective UVP
1. The benefit for the client
When creating your UVP, consider asking yourself how this product or service benefits your prospective client.
When informing your prospect, you don't want to leave them wondering what they will gain by working with you.
It is therefore important to let your prospect know how your business will address their pain points.
2. The business attributes
When talking about your business attributes, emphasize what differentiates you from your competitors.
Free downloads and eBooks can educate your prospective customers and showcase your business’s unique attributes.
Whatever it is that you offer, ensure it is of value and distinctly distinguishes your business from the rest
3. Make a justifiable argument
Relay your authority and expertise by emphasizing why clients should choose your business over others. Make sure to clearly articulate to your target audience why your business is best suited to solve their issue.
4. Incorporate an emotional component
Including an emotional component/argument encourages your prospective clients to reveal their feelings towards your business and its solutions.
By choosing your words carefully and adopting language your prospective client prefers, you can make your proposition more compelling.
The benefits of having a strong value proposition
The more powerful your value proposition, the easier it will be for your marketing and sales teams to close in on a prospect.
A strong value proposition reassures the prospect by addressing their problems while showcasing the benefits of your solutions.
Three essential elements to build a reputable value proposition:
1. Target market
Identifying the business’s target market will direct the company’s sales and guide your analytics.
The value proposition should be aligned with the demographics of an average account in the target market, such as age, income, and marital status.
2. Specific values
The business should have specific values in its products that justify to prospects why they should purchase them over competitors.
Here are some examples of specific values:
Low price
Saves time
User-friendly
3. Client connection
Refers to how a company meets the needs of its prospective clients, focusing on appealing to their emotions and establishing a long-term relationship.
The end goal is to promote brand loyalty.
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