One of the things we tell our clients is not to spend another cent on lead generation until they consider how they could turn more existing customers into loyal and profitable customers.
Often, the most effective way of doing this involves creating a Unique Value Proposition (UVP) for the client and buttressing all their offers with it.
‘UVP’ may not sound very thrilling, but it’s more than marketing jargon. Marketers know that it can make or break a business.
What is a UVP ?
- It’s a brief statement–a few sentences–that tells the client what makes you unique in the true sense of the word. It’s your point of difference from your competitors.
- It must answer the customer’s question: Why should I do business with you over someone else?
- It should solve a customer’s problem. Ask yourself, ‘why should they act at all?’
- It should fail the interchangeability test: could you easily and believably apply it to any other business? No. Good!
Did we mention it should be unique? Uniqueness is key. Often, if we ask a client to think about their UVP, they come up with fairly generic statements that are certainly benefits of doing business with them, but won’t have customers knocking down their doors. They might say, ‘we’ve been in the industry for a long time’ or ‘we pride ourselves on our customer service’. These aren’t unique, compelling statements about their business. Now, if they were to say, ‘we were the first in our industry in Australia’, or … Read More >>