What is a unique value proposition and how can you create one?

A robust UVP not only answers the fundamental questions of 'What do you do?' and 'Who do you do it for?' but it should also strategically address Porter's forces. By evaluating supplier power, buyer power, competitive rivalry, threat of substitutes, and threat of new entrants, we can pinpoint specific areas where our offering can stand out. This analysis informs the distinctiveness of our UVP, ensuring that it is not only unique and relevant but also strategically positioned against market forces. In essence, the UVP becomes a tailored response to the market dynamics, creating a compelling narrative that resonates with our ideal clients and entices them to engage and act.

As Simon Sinek said, people don't buy what you do, they buy why you do it. It is this that will spark interest, curiosity and action from your prospects. There are many thousands of management consultants all talking about what they do, who they work with, and why they are different. That's not to say that you shouldn't have a well thought through value proposition, but these don't trigger emotional responses, and it is only in emotion that decisions are made.

The distinctiveness of a UVP lies in the firm' strategic purpose and the types of values it aspires to deliver. First, UVP distinguish themselves by the strategic purpose of the firm AND the extent of their alignment with that strategic purpose. Second, UVP distinguish themselves across the 4 dimensions of values corporations should aim to create: ? Functional Value: Ability of your products & services to deliver on their promise (Does it do the job?) ? Emotional Value: Emotional value to/bond with customers ? Experiential Value: Degree of excellence of your customer experience ? Societal Value: Degree of alignment of customers with your firm's strategic purpose. The more distinctive across these 5 dimensions, the more unique the UVP.

A Unique Value Proposition (UVP) is a clear statement that conveys the unique benefits and advantages of your product or service. To create one, understand your audience, analyze competitors, highlight benefits, be clear and concise, use emotional appeal, focus on differentiating factors, address specific problems, test and refine, maintain consistency, use unique language, and ensure your UVP reflects real value. A compelling UVP sets you apart in the market and attracts the right customers.

As consultants, we often have the same objectives as our competition and guide the customer to achieve the same goals. To a certain degree, we often use similar, if not identical, tools and processes as well. The customer will differentiate us from several "soft" factors, not just the nuts and bolts of what, how, and for whom we do things. These include: - Our ability to listen and understand them. - "Why" we do what we do (see Simon Sinek's "Start with Why"). - How we think about problems and arrive at solutions. - If we demonstrate thought leadership or just apply tried and true methodologies and processes. - Our ability to establish trust early on. Incorporating some of these into your UVP will set you apart from other consultants.

A value proposition should not describe a feature or benefit. Instead it should answer this fundamental question for your customer segment: Why should I care about your set of features or benefits? What problem (pain point) does your product/solution solve or need does your product/solution fill for me the customer? Repeating or rewording your benefit/feature does not answer the Why question. For example, a bad UVP sounds like..."Unlike other options, my service uses ML/AI to deliver a state-of-the-art reporting dashboard". Okay, Why do I care about ML/AI or the dashboard as the customer though? A better UVP would be...We automate and streamline the visual reporting process to reduce cycle time for critical decision points in your business.

Antes de definir tu Propuesta de Valor única (UVP) , investiga a fondo. Comprende tu mercado, clientes y competidores. Detecta brechas y oportunidades, conoce las motivaciones de tus clientes y analiza a tus competidores. Utiliza encuestas, redes sociales y más. #InvestigaciónDeMercado #UVP

Most UVPs refer to a unique value proposition for a single product or service while competing in one granular industry, but that doesn't have to be the case. For example, a UVP stressing a unique all-in-one solution. First determine if your UVP covers one or more industries and identify the competitors in each industry. (There are tools that do this, see https://IndustryKG.com) Further detail typically includes identifying, for each competitor, the brand names, the product/service offerings, the brand promise, the targeted customers, the advertising channels used, etc. Develop your UVP based on your true values, capabilities, and brand and product strategies. If your UVP looks, feels, smells +sounds like someone else's, get creative!

To make a strong UVP, first, learn about your market. See what's new or missing in your industry. Next, find out what your customers need and their problems. Talk to them, check online reviews, or use surveys. Also, look at what your competitors are doing right and wrong. Use tools like social media or industry reports to help with your research. With all this knowledge, you can create a UVP that stands out.

For me, a simple test is 'putting myself in their shoes'! As a customer I would like to have certain products and services from my consultant, and in certain ways, and at a certain price. The same I must give as a consultant to my customers. I have written my own UVP as "Delivering Excellence – for all customers!" - simple, straight from the heart. Excellence is not only commercial, its sustainable, and ethical also!

Here's a quick framework to express desired outcomes while building a unique value proposition: Think about what your clients want to Win, Retrieve, Escape or Stop. Examples: ?? WIN: More customers, X revenue in Y timeframe, more share of wallet, higher productivity. ? RETRIEVE: Lost reputation, lost customers, lost market share. ?? ESCAPE: High tax bills, regulatory fines, hostile takeovers. ?? STOP: High employee attrition, toxic work culture, high overheads. Use what is relevant to your clients. Outcomes are not always what clients can GET, but also what they can AVOID or STOP happening. The more specific you are, the more your Unique Value Proposition stands a chance of being...unique.

Once you've made your UVP, it's time to test it. See if it's clear, stands out, and really speaks to your customers. You can ask people what they think, use surveys, test it on your website, or see how it does in ads. Look at the results, like if more people are showing interest or buying from you. If it's not working as well as you'd like, consider making some tweaks based on feedback and what the data shows.

My UVP is that I help entrepreneurs and business owners fall back in love with they business. My how will be different for each company based on the problem they need me to solve. Most companies are frustrated because they have a problem they can't solve. By solving the problem, they get to remember the joy and thrill of why they started their company in the first place. Experiencing the solution allows them to fall back in love with their business again and keep dreaming and building.

I use my elevator pitch template to help my clients write their UVP. If you would like a copy of the template send me a DM and I will happily share it with you. Here is an example of what the end result could be: "We help struggling small business owners who want to dramatically increase their cash flow find the proven and tested strategies and tactics they need so that they can immediately generate more leads, attract more clients, and make more money than they have ever made before… even in this horrible economy."

Even if a lead doesn't pan out, seek feedback. Was your UVP clear to them? Seek feedback in multiple ways - clients, mentors, data from your website. etc.

Its difficult one, but your best critic is the best source, if you have one and can approach, and can response from them. And finally, if you have open mind to consider the inputs received in this way. Dont just give up that I dont have a critic - every one has (at least one). It may be your best customer or the worst, it may be your competitor, it may be a professional reviewer. Can a consultant hire a consultant to write their UVP? Why not - you may like to consider this option too!

The slight difference which makes a customer to buy one's product and not others is the result of the Unique Value Proposition. In this world of competition, its the UVP which differentiates Amazon with Flipkart, etc. that pulls a customer towards a particular brand. All the more a customer coming back proves the point. It can be way of selling product, features of the product, after sale service and many more areas where a brand/compnay may wants to differentiate with others and makes them known for the same. For e.g. Nokia phones (in earlier days) are so strong that it doesn't break even when falls accidentally (such was the core belief that consumers/users had).

Maintaining a UVP is an iterative process. It's a continual loop of feedback from customers, employees, competitors (direct and indirect). This feedback is used to alter the UVP to continually stay away from the competition. Competitors and markets move quickly now, and those companies who look at their UVP as set in stone, are in danger of being left behind quickly. It should also be noted that once a UVP is out there, you can consider it fair game to be replicated. In many cases this happens quickly. Always be reviewing your UVP!

The most important thing to remember about a UVP is the "P" - it is a proposition. Value is determined by the buyer, not the seller. As consultants, what we think is valuable doesn't matter. UVPs are conversation starters to help the customer articulate the value they're seeking and to help us understand them. The goal of consulting is to make the customer autonomous when we depart, not dependent on us. We need to teach them how to fish, not feed them a fish. If we demonstrate that we listen carefully and adapt to their needs, rather than force them to adapt to what we put forth in our UVP, there's a higher probability of becoming an ongoing trusted advisor to that customer and receiving priceless word-of-mouth recommendations.

The UVP isn't about you. It's about a company sensing that you have something THEY need. They need to see value so you have to speak their language.

Developing a UVP is a big exercise - time, effort, and money-consuming. So, there should be an effectiveness check. Here is a long list: CSAT and NPS, Market Share and Competitive Position, Revenue Growth, Conversion Rates, Customer Acquisition Cost (CAC), Customer Lifetime Value (CLV), Brand Awareness and Recognition, Customer Feedback and Surveys, Competitive Analysis, Employee Engagement and Satisfaction, Operational Efficiency, Key Performance Indicators (KPIs), Customer Testimonials and Case Studies, Market Research and Competitive Benchmarking, Time and Resource Allocation, Return on Investment (ROI), Long-Term vs. Short-Term Impact etc. But everything else being done in the company will also lead to these. (more in next)..