Does Your Unique Value Proposition Resonate?
Identifying and Meeting the Emotional Needs of Your Customers
Knowing your customers well is one of the most important success factors in your business. It’s the foundation for growth. Although an understanding of your customers is important in all aspects of your business, it’s particularly essential in crafting your unique value proposition.
As a reminder here is what a Unique Value Proposition (UVP) is and why you need one: A unique value proposition (UVP) is a statement that explains how your business is different from everyone else in the market. It tells your customers how you can better meet their needs and what makes you special. Your UVP essentially tells them why they should buy from you instead of from your competitors.
Your Unique Value Proposition is probably the most important thing you’ll ever create in your business. It will ultimately determine your success, or failure.
To create a winning UVP, here is what you need to know about your customers:
1. Who They Are
The demographics of your target customer: You should know as much demographic information as possible, including things like age, gender, economic status, location, etc. The more you know about the customers you are planning to attract to your business, the more success you will have in turning your visitors into customers; and customers into long-term clients.
2. What They Need
You have to thoroughly understand their needs, wants, problems, questions and concerns. These are the things that prompt people to take action. These are the problems you’re going to offer to resolve for customers.
3. What They Buy
Know your customers’ current suppliers. What companies are meeting their needs right now, and which ones are not? With the information you obtain, take time to research your competitors and see what UVP they may be bringing to the table.
4. How They Buy
Find out about your customers’ buying habits. This includes how much they buy, when they buy, how they pay, and anything else you can discover about their purchasing patterns. Once you’ve gotten a basic understanding of how your target customers buy, ensure that you can meet their buying habits and needs; and provide alternatives that may be better options for them.
5.How They Feel.
Finally, beyond hard data, you need to understand how your customers feel about their problems and purchases. What makes them feel good or bad about the shopping experience? What do they expect from companies and products? How do they feel about the companies they currently buy from, as well as about you?
All of the above will help you create a unique value proposition that resonates with your customers and helps them understand why they should buy from you.
And, repeating a key point noted above, your Unique Value Proposition is probably the most important thing you’ll ever create in your business. It will ultimately determine your success, or failure.
Thank you for reviewing my post on creating your Unique Value Proposition (USP).
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Mike Conkey
