Finding a unique value proposition for your business is just jargon-y marketing speak for the answer to this question: “How is your business different from the competition?”
Within the answer to that question lies all of your success.
Without a strong, clearly defined value proposition, the only way you can differentiate yourself is by price. That price may be lower or higher than your competitor’s price, but it’s not enough to build a strong client base and gain customers for life.
And here’s the thing about a really great unique value proposition – you can’t fake it.
That is to say, you have to truly be different, not just market yourself as different.
Here’s how to uncover what makes you different and how to use that difference to your advantage.
Step One: Analyze Your Current Clients
In the world of marketing, there’s a lot of talk about ideal clients, target market, and avatars.
Instead of focusing on who you’d ideally like to serve, I want you to take a good, hard look at who you’re already serving.
What do your current clients and customers have in common? Make a list of demographic information like age, gender, education level, and profession, but also list things like dreams, hopes, fears, and passions.
You can’t clearly define what makes you different without first looking at the client relationships you already have. Instead of guessing or imagining what a good value proposition might be for prospective clients, I want you to go straight to the source – your current, flesh and blood clients.
If you’re unsure of what your clients dream about or what they’re scared of, don’t worry – we’ll tackle that in Step Two!
Step Two: Have a Chat
Next, reach out to a handful of your current clients (5 to 10 is ideal) and schedule a quick phone call or Google Hangout session. You can even take them to lunch or send a simple email survey.
Your goal in connecting with your clients in this way is to get to know them on a deeper level, but also to discover your unique value proposition according to them.
That’s right – you don’t have to “make up” a value proposition or wrack your brain trying to artificially manufacture a quality that makes you stand out.
You already are different, and you already do stand out. It’s just hard to see yourself objectively, which is why you need others to tell you about, well, you.
Ask your clients all or some of the following questions:
- Why did you hire me in the first place?
- What makes you continue to work with me?
- What’s about my services do you love most?
- When you refer me to others, what do you say?
- What do you think makes me different from others who do what I do?
- What are you struggling with most right now when it comes to [your services/business]?
Your unique value proposition is contained in the answers to these questions.
Step Three:
Compile the answers to these questions so you can easily see emerging trends. You might write down all the comments you received on flashcards, or track everything on a big white board.
Look for patterns in the language people use. While they may not use the exact same words, it’s important to look for similar meaning.
For instance, if one client describes you as “compassionate” and another calls you “gentle,” you know that what sets you apart is your ability to empathize and meet people on a human level.
Next, look for commonalities in people’s struggles, hopes, fears, and problems. Determining their problems helps you pinpoint exactly how you help your clients. Combining their specific problems with your unique qualities will help you create your personal value proposition.
Once you have the feeling behind your value proposition and a strong sense of what your clients struggle with most, you can then create language that clearly communicates those things in your marketing materials.
Remember that there is no such thing as a “too small” value proposition. Sometimes the little things you do for your customers are really big in their minds. Just because something comes naturally to you or is easy for you doesn’t mean it’s not highly valued by others.
Have fun investigating your value proposition and discovering what makes you different. Chances are that a quality you’ve always taken for granted, like punctuality or a great sense of humor, is exactly what keeps your clients coming back.
And it’s exactly that quality that will continue to set you apart from the competition, especially once you harness it, own it, and use it to your advantage.
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