Your unique customer value proposition (CVP) is the sum of all the qualities, benefits, and features you offer that cannot be found elsewhere. To determine your CVP, research the products and services of your competitors; those which set you apart are the elements of your CVP. Communicate this value to potential customers through compelling messaging, visuals, or a combination of both on your website or social channels.
1. Know your customer segment
The first step to developing a unique customer value proposition is to understand who will be the main beneficiaries of your business. Knowing your target market helps develop a clearer picture of their needs and wants and further indicates how you will be able to provide value. You’d want to target customers in the right demographic, so it’s important to conduct research into particular segments and determine what type of people would benefit most from your products or services.
2. Take stock of your resources
Once you have identified who is likely to use your product or service, the next step should be taking stock of all relevant resources. This could include knowledge, processes, and technologies currently available at your disposal. Creating a list of these assets helps define the scope of what you can offer and will help you generate more specific ideas for adding value from there.
3. Analyze competition
Analyzing competitors within similar industries can make it easier for any entrepreneur to uncover unique business opportunities that may be available in an industry, providing better insight as to how one might create a product/service with better features at lower costs to widen the gap between him/herself and other rivals in the field
4. Assess customer needs
It’s essential for businesses that offer services or products to consider the wants/needs of their clients closely in order to create an accurate customer value proposition statement that articulates their advantages clearly. It’s important when evaluating customers’ needs that businesses look closely at details like quality levels they expect, time frames they desire, etc., so they can think through solutions best suited for them.
5. Brainstorm propositions always refine
When creating value propositions, brainstorming internally within an organization can often be beneficial in helping develop concepts quickly and efficiently after steps 1–5 have been taken into consideration. Afterwards, continuous refinement should also take place as technology continues to advance and consumer preferences change over time as well.
6. Verify assumptions by surveying potential customers
In order for entrepreneurs and companies to design amazing user experiences for customers, verifying assumptions about exactly what customers need by surveying them is highly recommended. Customers’ reactions around survey questions allow businesses to adjust the values and benefits highlighted in their value propositions if deemed essential.
7. Communicate and Share the Value Proposition Statement Everywhere!
Once everything has been put together, communication across all channels, including social media marketing campaigns, email newsletters, etc. are essential thus allowing prospects/customers become aware of offerings as soon as possible.
Let’s not forget to share the knowledge with our LinkedIn, Facebook, and Twitter friends ❤.
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