Unlocking Growth with Unique Value Proposition

Unlocking Your Hospital's Growth with Unique Value Proposition

As markets get crowded with hospitals and the competition heats up, the need to be different from the crowd is an absolute must for long term survival for any hospital.

Having said that, I have seen many CEOs and VPs of Marketing struggle with the questions:

• What truly sets their hospital apart??
• What is the hospital’s Unique Value Proposition (UVP)?

?The answers most of them can muster up usually consists of generic terms such as "state of the art," "comprehensive world-class care” “compassionate care” “patient-centric," and "caring for our patients."?

It is almost appalling that the very basis of marketing and building brands - Differentiation, has not been given a serious thought by the custodians of the brand. The result - we have a lot of commodities but hardly any brands when it comes to hospitals.

What’s even more intriguing is that if you ask 5 senior guys of the same hospital separately, all of them are likely to come up with different answers as to what sets them apart.

The importance of developing a well-defined UVP that resonates with your target audience can never be stated enough.

Healthcare brands who do not build business based on UVP will not outlive their competitor who do.

Here are some of the key steps that help formulating a compelling UVP. These can set you on your path to creating an insurmountable competitive advantage:

1. Look at what problem you solve for your target audience that others don’t.?Or solve the same problem in a very distinct manner.
2. Ensure that this attribute is not easily imitable. (Else you will have a situation of overnight copy paste by the competition.)
3. Ensure that the staff internalizes the brand. Ultimately, it is the staff that will deliver the unique promise you make to the world.
4. What narrative can be built around the UVP? is there an interesting story that can be told? Will that story give the story 'wings?'
5. What channels will be used to tell the story about the UVP? In the digital era, there are lot of ways to get the message out there

Pitfalls

While crafting a powerful UVP break away from generic descriptions. Avoid using terms that have been "done to death." While it's important to have world-class facilities, exceptional patient care, high-quality services, and affordability, these attributes alone will not set you apart. Your UVP should delve deeper and identify the unique qualities that make your hospital truly distinct.

My personal advise is to steer clear of the word - Care. This word has been overused and seems to have lost exclusivity. It is too generic and 'care' is something that is any case already expected from a healthcare facility.

Whereas, it is not easy to arrive at what sets you apart, there are places that you can look towards and find answers.

Look at competitors

Sometimes the moment of discovering the UVP comes from having a good look at the nearest competitors . Observe their strengths and weaknesses closely. Perhaps there is a gap left by them that you can bridge with your services.

The chink in the armor as they call it, can be a powerful opening for you to break into the market and outshine existing competition.

Market Research & Feedback Analysis

Additionally, conducting market research and seeking direct and unadulterated feedback from patients can provide invaluable insights into what they value most and where your hospital can excel.

I have found focus groups to be particularly useful. Patient groups, if moderated well, will tell you the exact areas of dissonance and discomfort when they avail healthcare services. These can be the basis for creating a unique offering.

Craft a Clear and Concise Statement

Once you have identified your unique qualities, it's time to articulate them clearly and effectively. No more than two or three words ideally. Remember, the longer the core UVP phrase, the more diluted it gets. It could be as simple as - A Smart Hospital or 30 Years of Trust.

The idea to is occupy a distinct position in the minds of your potential patients and their families. A spot that belong sonly to you and will not be dislodged that easily.

The statement should lead to a narrative

The distinct position usually leads to a narrative. A compelling story that needs to be told. We all know about Col Sanders and KFC story. Similarly, a hospital brand can always use a good narrative. It gives the UVP 'wings' to fly far and wide.

In conclusion, don't settle for generic terms and clichés when defining your hospital's USP. Dig deeper because there are no short cuts.

Brands based on distinct value propositions eventually outlast and outperform the ones who have weaker differentiation. Healthcare needs formidable stories and strong fundamentals to build long term success.

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The author is a Senior Healthcare Growth Advisor with over two decades of experience across several countries.