They should do … but do you know the difference between a VP, USP and UBA? Indeed how do they relate to each other
Lets start by finding out what Wikipedia has to say on the subject…
- “The value proposition is an analysis and quantified review of the benefits, costs and value that an organization can deliver to customers and other constituent groups within and outside of the organization. It is also a positioning of value, where Value = Benefits – Cost (cost includes risk)”
so a socially responsible organisation should have one to communicate its value to customers. A VP is a distillation of all that business stands for in a few sentences. Some of it may even be expressed subliminally by the real estate [physical or virtual] that the company occupies, the atmosphere its projects and the way it is maintained [or not]
- “The Unique Selling Proposition (also Unique Selling Point) is a marketing concept that states what is unique about a company’s product so that a customer can identify why he should buy it rather than one similar made by someone else so an effective marketing strategy must have one to express why the company’s product is remarkable
- The Unique Buying Advantage is the benefit that your prospect perceives that actually convinces him to buy that product
so the UBA is in the customer’s head and the USP is in the company’s head. If the two are the same, you have bonded with your market successfully. If they are different, your marketing is off pitch and needs refining. Remember, its not about what “you” sell. Its about what “your customer” buys .
So the Value Proposition projects your company value. The Unique Selling Proposition states what remarkable benefit your product delivers and the Unique Buying Advantage is your customer’s view of the unique benefit that he or she perceives.
To be successful, all of these unique messages have to be congruent.
Your Customer Avatar
So logically before you lift one finger to develop a product, you must first know your ideal customer really really well.
Perhaps the easiest way to do this is to build up an imaginary picture. An avatar as Eben Pagan calls it. Give your avatar a name. Let’s call ours, Jon. Now find out how old Jon is. Whether he went to college. how much he earns. Is he married? How many kids does he have? what age are they? where does he live? What websites does Jon visit? and therefore what are his wider interests [this will help with your media buys]? Find out as much as you possibly can. It may require a bit of detective work but really get inside Jon’s head and know what makes him tick. What really pulls his chain? What are his hot buttons and why? what causes him pain and what does he enjoy?
Do some lateral thinking and brainstorming to piece Jon together. Your time will not be wasted.
Your Company Avatar
Your Value proposition is your company avatar. It should mirror your ideal customer. It must reflect his beliefs. He must be able to bond with it emotionally and feel comfortable with it. This is why major brands choose to sponsor sportsmen or women. These champions are the company avatar, the embodiment of the company’s value proposition.
Your customer will not be convinced if he senses something incongruent in the messages that he is picking up so be real and be authentic. You must walk the talk and talk the walk.
There are no short cuts. No quick buck. Do the work and you will be rewarded by not having to ‘sell’ your product. It will seem like a no-brainer. Why would anybody NOT want to buy it. They’d be mad to pass up an offer like that. They cannot even understand how you can even make such an offer AND make a profit. The scales are weighted in their favor by the value that your deliver. The price is a strictly secondary consideration.
Getting your offer right is vital but sadly, not every business or product is ready for the level of inspired launch marketing that we deliver. Take 5 minutes to tell us why you and your product really are different. We’ll get back to you within 48 hours.