Developing a Unique Selling Proposition as The Foundation for Your UVP
Should we have offered this information about developing a unique selling proposition (USP) before our post about creating your UVP? Maybe, but then, where would the mystery have been – the burning question we left you with that got you to come back and look for more?
Pretty sneaky, huh? (Sorry, not sorry!) LOL
You see, this is all part of our strategy to hook you on our series of posts on marketing your design business more effectively. We figure that, in the face of the pandemic and its eventual aftermath, a return to marketing basics has value for you and we hope to be able to provide that. Of course, if you need more individualized attention, Ted is available for business consulting support to interior designers and furnishing store owners.
Now, onward and upward…
What Your USP Says About Your Business
Once again, we need to define our terms for you:
“A unique selling proposition, more commonly referred to as a USP, is the one thing that makes your business better than the competition. ... Your USP plays to your strengths and should be based on what makes your brand or product uniquely valuable to your customers. Being ‘unique’ is rarely a strong USP in itself.” (Shopify.com)
Yeah, that unique thing they mention is taken care of when you create your UVP, right?
Now it’s time for some cool graphics! (YAY!)
First, let’s just get our heads around the basic concept of what a USP really is. This graphic, borrowed from TractionWise.com, illustrates the concept in a clear and simple way:
For a more detailed look at the issues your USP must address effective, we borrowed this graphic from Medium.com:
As you can see, both of the images present an area where your offerings best meet the needs of your prospective client, while avoiding areas of risk or similarity.
When you develop your USP, you avoid areas of similarity with your competition because there is nothing unique to offer in your UVP. Areas of risk are avoided for the obvious reason that you may actually push your prospects toward your competitor by mistake.
In other words, the whole point of developing a unique selling proposition is to figure out and proclaim how you are different from your competition – not to mention BETTER.
Why It Matters
You see, while it may seem counter-intuitive, it’s a simple fact of life that not every owner knows what makes their business unique, different, and better than their competitors. Frankly, some of it is just ego talking (“If it’s mine it MUST be better!”). But, more often, it’s a combination of lack of time, energy, and knowledge.
By this, we mean that, often, there is just too much to take care of for a single entrepreneur to be able to get it all done alone. Something has to give and, too often, it winds up being market research into the competition. That lack of knowledge can make developing your USP and UVP more than a time-consuming chore; it can make them completely ineffective.
That’s why it matters so much because of the time and energy you invest in this kind of work must have a solid return. So, set aside whatever time you need to get them done right.
Again, Ted remains available for business consulting support to interior designers and furnishing store owners. With more than 25 years' experience in the luxury furnishings industry, he is able to answer questions about everything from general marketing to specific tips for developing a unique selling proposition and your UVP as the foundation and guides for your marketing strategy… Get in touch with TD Fall today.