Every business no matter how its formed has some form of difference in it either in terms of how it operates, the products it offers and any more.
Hi everyone my name is Timileyin and in this post i will be showing you how to come up with a unique value selling proposition.
A business unique value selling proposition is that statement that clearly states how your business, product or services differs from your competitors. It’s all about your competitive advantages as a business.
It gives every potential customer every reason to patronize you instead of your competitors. It gives the business brand a face so as to make every potential customer to have you in mind.
To use your competitive advantages, you need to know them so as to put them down. Below are the ways to create one
1. Go Back to the Basics
The initial step for creating a unique value selling proposition requires that you reflect and check out some of the foundations included in your mission statement, business plan strategy, market research analysis, and overall business projection.
To get started, you need to resolve some issues by answering some crucial questions that pertains into what your business is selling, who you’re selling it to and why you’re selling it.
For example, a company that sells fruits may compile and answer questions like this:
What products or services are you selling?
Who is your target audience?
- Homeowners and people don’t have a lot of time to get fruits in the market
- Fruit industries
What does your business do well?
- We provide quick, responsive service while making the purchasing process easy for our customers.
- We offer home service delivery
What is your most important customer-focused business goal?
Helping our customers get first hand contact with fresh variety of fruits at affordable prices.
2. Solve a Problem
The following step is to specify your target audience’s wants and analyze how your product or service approaches and tackles that problem.
For example, a company that sells a variety of fruits may identify the potential customer’s problem as not being able to either get fresh fruits or can’t make it to the market easily.
3. Identify the competitive advantage
This step helps to identify what it is about your solution as it relates to your customer’s problem. The approach in which the problem is handled then tells how unique your solution in terms of how different, or better than, the solution your competition offers. The value you identify here will be one of the major reasons why your customers will choose you instead of your competitor.
The potential competitive advantages of company or business may be that they offer fresher fruits, less expensive boxes which packs the fruits well and makes it very presentable, same-day delivery, or exceptional customer service.
4. Make a Promise
This stage puts together the most vital fundamentals of the previous stages into a brief report that encapsulates the value your company has to offer. Keep in mind that your unique value selling proposition essentially implies a promise or a pledge, you are making to your customers.
The fruits company, for example, may create a unique value selling proposition that enables customers have access to fresh fruits in time with timely home service delivery and also the opportunity to replace any fruit already getting staled with fresh ones.
Once you have a functioning unique value selling proposition, it’s always a good idea to keep working on it, run it by others in your company, or even create a focus group to have a broader view about how much impact it has to make in the lives of many.
It may take several attempts, but once you hit the perfect one, it can be a primary element of your marketing strategy.
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