appleIt is extremely unfortunate that there are such a large number of internet marketers, minipreneurs, entrepreneurs and corporations that are investing extremely heavily in order to grow and market their business, but unknowingly do not stand a chance of being successful with what they are doing.

After all, if you put a large amount of effort into marketing your services, websites and products, wouldn’t you want to know why you are receiving much less return than you expected?

If you are experiencing this type of frustration, it is crucial that you determine your Unique Value Proposition (UVP) and how to apply it to your business.

The Unique Value Proposition (UVP)

If you have ever had to seek venture capital financing for an idea you had for your business, you understand the term “30-second elevator pitch.” This is much tougher than you would ever imagine to be able to organize each of the following items into just a few concise sentences:

  • Your actual target market
  • The top benefit your target market receives from your service of product
  • A description of the service of product you offer
  • What it is that makes you

However, you will not be able to deal with each of these criteria alone. Your UVP needs to be based on an idea that includes each of the criteria outlined above prior to its actual development. In situations of existing businesses, you need to invent or to re-invent what your business is and then develop the UVP from that instead of trying to piece it together after you have launched.

Even if you have the savviest sales team and marketers, superior services and products and the best work ethic in the market this all means nothing without a great UVP.

Reaching Your UVP

Are you ready to develop your very own unique value proposition? If so, use the tips here.

Use a Two Phase Approach

Phase one is when you decide what is different about what you have to offer. Phase two is creating this uniqueness into a type of outbound message to send to your target market – this should be an assured, confident and beneficial statement to your entire market.

Listen to Your Market

Being able to find what makes you unique in your market is much more probable when you are involved and understand what your customers need and want from you.

Seek Inspiration Outside of Your Industry

Take the time and put in the effort to study all types of successful companies. You need to understand what their unique value proposition is and how they are different in their respective markets.

Find a Way to Improve Your Target Customer’s Life

When you are working to discover your unique value proposition, you should think big. Being the very best in shipping time, selection and price is usually not enough to separate you from your actual competition. You need to think about what you can do with your product or service to really improve your customer’s lives, status, health, financial situation, etc.

The UVP you develop is mandatory when it comes to achieving superior success with your offline or online business and your internet marketing efforts. Your strategic planning, idea generation and market research should all wind up leading to your UVP. All of the aspects you put into selling, building, delivering, supporting and marketing your services and products need to work to fulfill the UVP you have created. This is really the missing piece that leads to the failure of up to 90 percent of all small businesses in the first five years – don’t allow this to happen to you!