When you are an entrepreneur, you need to ask yourself several questions. One that you should be specifically asking yourself is, “why should a prospective customer care about my product or service?” To do this, you need to think about what makes your product or service different. In business terms, this is known as your product or service’s unique value proposition. It’s essentially what makes someone want your product or service over another. Having a strong unique value proposition (UVP/USP) is one of the best ways to stand out in a crowded marketplace.
Before you can begin to try to sell anything, you need to be able to sell it to yourself. The only way to do this is to figure out what your product or service does differently. What makes it something worth buying? Being able to pinpoint this exact thing can make or break your business. If you cannot identify a single thing that would make your product or service stand out from your competition, your product or service is likely to fall flat. You need to have a unique selling proposition to effectively market a product or service. Use the following tips to come up with a good unique value proposition.
1. Target Audience
First things first, you need to know who your target audience is. This is essential because this is the audience you are selling to. You need to cater to them specifically. You want to ensure you know exactly who your target audience is because they will be the ones buying your product or service.
Many entrepreneurs fail to do this from the beginning. This results in them thinking they can sell to anyone and everyone. Unfortunately, when you try to create a product or service for everyone, you will end up selling to no one. Your product or service won’t have any differentiating factors that appeal to a specific audience. Your competition that did their homework on their target audience is going to do a much better job at selling. You want to research everything possible about your audience. Figure out how old they are, look at their income, figure out what hobbies they have, and more. Do all of this and you can craft different ideas on how to create the perfect product or service for them.
When you are looking to improve your product or service’s chances of selling in a marketplace, you will want to look closely at your competition in medical communications. You want to gain as much knowledge as possible about your competition. Figure out what they are doing well and what they could work on. You can look at reviews of their product or service to figure out key areas you can exploit. This will allow you to effectively craft a better unique value proposition that solves their customer’s pain points.
You want to look closely at everything from their mission statement to their staff and even the product they have. You will notice there are plenty of things that you can make improvements to. If they have a brick-and-mortar location, you can go there and see what customers are saying and how they are behaving. You can even survey these customers to figure out specific things they dislike or like. Doing your research on your competition is one of the best ways to put yourself in the driver’s seat to crafting the perfect UVP.
3. What’s Your “Why?”
It’s not only sufficient to know exactly what your product or service does. You need to know why people would need your product. The “why” is what will sell your product or service. Having something that is going to solve someone’s pinpoint will make it much easier for a sale. Figure out how your product or service makes someone’s life easier or better.
What does your medical communication do that your competition’s product or service doesn’t? Does it help them save time? Is it cheaper? Think about some of the reasons people would want to buy your product. You can look at your product or service and pinpoint what makes it unique. This can help you figure out your “why.”
4. Go Against The Grain
One of the best things to leverage when you are crafting your UVP is when your product or service goes against the trend. If you are doing something completely different and uniquely solving a problem, this should be emphasized in your marketing material. For instance, say you were looking to open a brick-and-mortar gym that caters specifically to those who aren’t experienced at working out. You would want to advertise it in such a way that appeals to non-fitness enthusiasts and hardcore weight lifters. This is something Planet Fitness does very well.
5. Negative Promises
You want to look at things that your product or service does that the competition doesn’t. However, you also want to look at things that your product or service doesn’t do if it’s something your target audience would appreciate.
For instance, if you are selling coffee, you may want to emphasize that you use recycled packaging and that you pay your grower’s fair wages. Highlighting this can help you sell more coffee because a lot of consumers have become increasingly socially conscious about the brands they are supporting. Dyson is a good example of this too. Dyson makes fans. In the warmer months, a lot of us use fans to keep our rooms cool. Unfortunately, these fans can get rather noisy when trying to sleep. This can be distracting. Dyson solved this by coming out with a range of bladeless fans to reduce noise while providing ample cooling.