What is the Unique Value Proposition? How can it be discovered?
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What is the Unique Value Proposition? How can it be discovered?
The purpose of the Unique Value Proposition is to explicitly state why a customer should buy a product or service. It should express an original characteristic benefit that competitors cannot mimic.
Last week, we were introduced to the FRAME marketing model. Continuing our exploration piece by piece through weekly articles, we'll further consolidate our understanding of the Focus, Realize, Adjust, Mount, and Exhibit steps of the model with examples. This week, I want to discuss a new concept:
"Unique Value Proposition"
The Unique Value Proposition (UVP), or Unique Selling Proposition, is a statement that clearly explains the unique benefit a product or service provides, how it solves a customer's needs, and what sets it apart from competitors.
For instance, if a company sells an eco-friendly cleaning product, the Unique Value Proposition might focus on its ability to clean effectively without harmful chemicals and its environmental safety, setting it apart from traditional cleaning products.
The purpose of the Unique Value Proposition is to explicitly state why a customer should buy a product or service. It should express an original characteristic feature or benefit and present a situation that competitors cannot mimic.
In the "Adjust" step of the FRAME model, we decide on our brand's unique value proposition. I quote the explanation of this step from the previous article right below.
Adjust
As you know, a brand means differentiation. Now, in this step, we will find the value proposition that solves the customer's problem and allows you to stand out from the competitor, using the data we gathered in the first two steps. The insights resulting from our conclusion, the compatibility with the persona we identified as the target audience, and the determination of the category entry points are the other questions we will answer in this step. The goal of this step is to frame the brand.
You can examine the image below, which shows customer needs and brand value propositions for brands A, B, and C, to visualize the unique value proposition in your mind easily.
Products and services meet customer needs with the value and benefits they create. In the image above, the value proposition of A offers benefits common to B and C. These common benefits meet the consumer's needs but do not provide a competitive advantage. The areas outside the intersection of the three tables form the unique value propositions (differentiation areas) of the three brands.
Without going into too much detail, let's fill this wall by examining the well-known browser brands and finding the differentiation areas.
Let's take the A brand as Firefox, the B brand as Chrome, and the C brand as Safari.
A-B-C common value proposition:
Language support, mobile browser, add-ons, support for web standards, password manager, accessibility options, etc.
A-B common value proposition:
Open source, PC and Android device support, wider add-on support than Safari, productivity linked to add-ons
A-C common value proposition:
Less ram usage, longer battery life, blocking third-party cookies by default, increased privacy settings, etc.
B-C common value proposition:
Robust ecosystem (Apple and Google ecosystems, Chrome extensions)
According to the FRAME model, the above unique value propositions should form the main promise of your communication. Now, let's look at the differentiation points and check our outputs by looking at the communication on the relevant brands' websites. Let's see how accurate our analysis is.
A - Firefox's unique value proposition:
Open source, community support
B - Chrome's unique value proposition:
Advanced add-on support, productivity, and the Google ecosystem
C - Safari's unique value proposition:
Ease of use, operating system compatibility, and performance
What are your thoughts on our estimation rate? It seems pretty good, doesn't it? :)
In this article, we discussed what the unique value proposition is and roughly how to find it. Next week, we will discuss how to perform a benefit analysis using the FRAME marketing model and how to fill in the frame hanging on the wall.
See you next week.