According to Statista, the total number of internet users around the globe reached 5.3 billion as of 2023, and there are 1.13 billion websites globally, of which 200 million are active, according to Forbes, then the online space is more competitive than ever. If Google processes 99,000 searches every second, according to SEO.ai, and a significant 95.8% of internet users access the internet via mobile phones, with 62.9% using laptops. So it should be possible to stand out and stay significant, right?
Sadly supply exceeds demand, so we still need to write to stand out. Not until I heard of UVP had I ever truly understood how the likes of Apple, Google, Adidas, McDonald’s, and Coca-Cola manage to remain at the heart of their customers and still bring in new ones every year. I’m going to share with you how they do, and why a UVP is essential for building a brand’s significance.
What is a UVP?
A UVP – Unique Value Proposition – is a clear and concise statement that describes the essential aspects of your business. It’s essentially an offer you make to your potential customers, giving them a reason to buy and use your product or service. It answers why your brand is different and better than others in the market.
How is it so important to businesses and brands? Let’s take a quick look at the importance of a UVP, and maybe, just maybe, we’ll figure out how the big players have used their UVPs to stay relevant.
Importance of a UVP
Just by looking at the statement 'Unique Value Proposition,' it’s possible to identify the importance from each part: Unique, Value, and Proposition. But here, I’ll highlight three key points that make these brands’ relevance evergreen.
A UVP creates differentiation in the customer’s mind, offering them a reason why your brand is better than your competitors. A strong UVP helps distinguish a brand’s offering from competitors.
It breeds customer loyalty, especially when customers perceive that the product or service offers unique value. It also aligns products and services with customers’ needs and values.
A strong UVP significantly improves sales and marketing efforts, helping brands target their most likely buyers and qualified leads.
While you reflect on the above, let’s look at some examples from big brands and what makes them unique.
Slack: "Be more productive at work with less effort" – this makes customers want to try it right away, due to the promise of higher productivity with minimal effort. Who doesn’t want that?
Uber: "The smartest way to get around" – promises a better means of transport compared to traditional taxis and other rideshare apps.
Apple iPhone: "The experience is the product" – positions the iPhone as more than just a collection of features, but as an experience users will enjoy.
Coca-Cola: "Creating happiness and a refreshing taste" – differentiates Coca-Cola from other beverage manufacturers by focusing on happiness and refreshment.
Now that we’ve established what a UVP is and how important it is for businesses, let’s dive into some of the benefits of a strong UVP for both businesses and customers.
Benefits of a UVP
Beyond creating differentiation, aligning a brand’s product with customer needs, and optimising marketing efforts, a strong UVP offers numerous benefits to both businesses and customers. Here are a few:
From a business perspective:
Increased sales: A compelling UVP can attract more customers and drive sales by highlighting the unique benefits your product or service offers.
Stronger brand positioning: A well-defined UVP helps establish a clear brand identity and positions your business in the market, making it more memorable.
Competitive advantage: A unique UVP differentiates your offering from competitors, helping you attract customers seeking specific benefits that others may not provide.
Improved pricing power: When customers perceive unique value, you have more flexibility to set premium pricing.
From a customer's perspective:
Clear understanding of value: A strong UVP helps customers understand the specific benefits they will receive, making it easier for them to make informed decisions.
Confidence in purchase: When customers believe that your product offers unique value, they are more likely to feel confident in their purchase.
Reduced cognitive load: A clear UVP simplifies the decision-making process, reducing the mental effort needed to choose.
DIY: Create your UVP
Let’s create a Unique Value Proposition for your brand using this simple guide:
Understand the needs of your target audience or customers.
Research your competitors thoroughly and identify what you do better.
Headline: Clearly state what your offer is. Make it attention-grabbing, short, concise, and impactful.
Subhead: Write a single sentence about your offer, for whom it is, and why it’s useful (in terms of benefits).
When writing your UVP, focus on what makes your business unique and better than others, and keep it simple.
With this guide and more research, I’m sure you’ll be able to write a UVP for your brand or business. You can also reach out to personal branding experts if you feel stuck. It’s nothing to be ashamed of if you need the best in the business to help you out.
Comments