Have you ever thought about what characteristics make you, you? Or, have you considered what parts of your story set you apart from others—even if you share similarities? Whether it’s your sense of humor or your ability to make the best chili in town, you have something to offer the world that no one else can.
Just as every person is unique, so is every brand. Without a clear value proposition, though, businesses may be losing consumers to other companies better equipped to share their strengths. A unique value proposition is key to capturing more business and being ready for growth. If you aren’t sure what a value proposition is, or how to build one, this post is a great place to start.
What Exactly Is a Value Proposition?
Defining what differentiates your brand from other brands is vital to staying ahead of the competition. It could be excellent customer service, a unique return policy, or even a brand voice that stands out in your industry. If you have confidence in your brand’s value and the ability to share that value with consumers, you’re set. But without those two factors, it’s all too easy to blend in with other companies in your industry and lost customers to businesses that look and sound a lot like you.
A unique value proposition helps funnel more ideal customers to your brand by showing why your niche services and brand are a perfect fit for them. It also serves to gently deter consumers who might not be a good fit for your product, offer, or service.
Is a Value Proposition the Same Thing as a Mission Statement?
Although the two are often confused, a unique value proposition is not the same thing as a mission statement. Mission statements often supply a brand’s “what” by sharing what their company does, but they can fail to explain the “who,” “when,” “where,” and “why.” A unique value proposition not only gives consumers a complete picture of what you do, but it also proves why they should partner with you—instead of with your competition.
4 Steps to Help Build a Powerful Unique Value Proposition
Brainstorming, developing, and perfecting a unique value proposition doesn’t happen overnight. If you know that your business currently lacks a unique value proposition, use these steps to help build a solid foundation.
Evaluate Your Current Value Proposition
The first step in defining a strong unique value proposition is making sure that your brand actually has one. Check through the “who, what, when, where, and why” list to ensure that you can fully articulate what sets your business apart. If you can’t define what it is that makes your business a better choice than others, it’s time to take a few steps back.
Examine Your Product, Offer, or Service From an Outside Perspective
So, an evaluation of your current unique value proposition revealed some weak points. To fill existing gaps, take a fresh look at your brand and its offerings. If it’s too hard to remain impartial, consider seeking an expert, third-party opinion to help identify key features of your brand that may have become invisible to you and your team.
Consult Your Buyer Personas
After finding the weak points in your current value proposition and confirming what changes would be beneficial, it’s time to start brainstorming improvements. Use buyer personas to make sure that any changes made will be helpful both to your ideal consumer base and to your brand moving forward.
Test, Re-Test, and Adapt
Once you’ve examined your existing value proposition, identified weak points, and used your ideal customer personas to build a stronger unique value proposition, it’s time to test it. Tools like A/B testing allow brands to show variations of the same webpage to different users, testing which version receives better results. Consider making some changes to your website that speak to your new UVP and testing them alongside the old. Using heat mapping and other tools that show how users interact with pages, you’ll be able to gauge the effectiveness of your new proposition and test many similar versions. If something is off, it can be easily adjusted and re-tested.
Let’s Make Your Business Stand Out
Now that you’re armed with the tools to articulate a powerful UVP, it’s time to build on that foundation by incorporating it into your brand’s digital presence. Whether this means reevaluating your digital voice, improving some aspects of your website design, or completely restructuring your marketing strategy, Snap can help. Contact us today to learn more about using your unique value proposition to generate ROI.