You Must Identify Your Unique Value Proposition
If you want more clients, more customers, more readers, more money.
"I'm not getting more business. In fact, I have fewer customers now than last year!" a recent client, Becky, said to me.
"Did you test your product before you started trying to sell it?" I asked.
"No, it's what I like. I thought other people women would, too," she said.
"What's different about your product? Why should I choose it over the dozens of others available on the market?"
Becky recited product features, but she couldn't tell me how they solved a potential customer's problem or made her product better than the competition.
"Can't I just do more social media? Can't I just pay for ads?"
"Nope, Becky. First, we have some work to do."
I told her she should have delayed her product launch.
Before you open a business, you need to identify how you will provide value to your customer. If you can't tell me, how will you convince the buyer?
Start small in your targeted market if you plan to be a writer. For example, can you get a short story published before writing an 80K novel? Will somebody pay for your words?
Are you starting a restaurant? How about beginning with a supper club or some catering gigs? Find out whether your potential customers will pay for what you cook. Free meals for your friends and family may get rave reviews, but it's not the same thing.
Research, research, research. Find out what your potential customers want. Then, until you know their needs and how to fill them, don’t open the doors.
You can have a wonderful new invention, but you don't have a winning idea if nobody but you needs it. If you are sure customers will 'love it if they try it', you must let them try it.
How to create your unique value proposition
Start by answering these questions as they relate to your product or service.
- What is your customer's greatest need? Know your target customer.
- What are all the benefits you provide? Know how they match the customer's needs.
- Why are these benefits valuable? Explain why your customer will love them.
- How do they solve the customer's problem? Then, tell precisely how you will solve their problem.
- How will you do this better than anyone else? Know as much as possible about your competition. Where do you exceed what they do?
Now you have the information you need.
- Customer [who is your target customer?]
- Problem [what problem is the customer currently facing?]
- Solution [how will you solve the problem?]
Imagine Bobby's Dogwalking Service.
Busy urban dog owners can't leave their dog alone all day: chewed couches, potty problems, nervous dogs. Bobby is insured, experienced, and ultra-dependable. He has 100% five-star reviews on Yelp, more than any local dog walker.
You can see how Bobby has brought it together in a clear, unique value proposition. Now he can think about effective marketing.
Give this process a try. Questions? Drop them in the responses, and I'll try to help. I believe in small business, and I want you to succeed.
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Cindy has been a farmer, teacher, bookstore owner, and writer. She loves books and is intensely curious about life. Join the conversation.