Why do I keep harping on this darn UVP (unique value proposition) stuff so much? Because you need to pass the "cocktail party" (i.e. easy explanation) test: in person, online, off-line, and in all of your communications materials.
Think about what makes someone memorable. As I’ve said before, it’s all about the “-ests” (e.g. “fastest,” “cheapest,” “friendliest”)…and about striking a chord.
In order to help you fill out the worksheet I created [which you can download here], I did a test run with Cari Carter of Car.go Handbag Hooks. Her answers (and comments) should give you some more insight into filling out your own form…
But, first, a little background information.
Cari explains, "I’m an interior designer…and I’m often running late. As a result, I sometimes have a habit of driving too fast. Taking a corner too quickly, my purse would always end up on the floor. I looked for a solution and the only thing I could find was utility hooks and bungee cords. They were hideous! There was really nothing else out there and I was dissatisfied with what I found."
And so, Cari, starting making her own.
"After making a few for some friends, that Christmas [of 2008], I sold about 150 of them. At that time it was just a fabric strap. I thought, ‘I wonder if I have a business opportunity here.’ In 2009, I looked into manufacturing and had my first batch created. The feedback I got was so invigorating and exciting. This is something that was a happy accident that turned into a passion. Now, it’s time to take it to the next level."
Unique Value Proposition Example
To that end, Cari’s worksheet answers [download your own here] are as follows:
The product or service we offer to the marketplace is…
…a decorative purse hook that’s made specifically for the car.
The top five key words or phrases our customers use when searching for us online are…
…Purse hook. Purse hanger. Handbag hook. Handbag hanger. Car hook.
“This question was difficult for me because, at this point, I am the only decorative purse hook that’s made for the car. I am a little bit challenged by Google, because no one’s going to search specifically for me. So, I have to count on people looking for things like table purse hooks or other things for the car. Then, they accidentally find me.”
The top three ways our product helps people are…
1.) If keeps your purse (or grocery bag or diaper bag, etc.) it from falling on the floor when you brake.
2.) It keeps everything up off dirty floor mats. (This is especially good for carpool moms.)
3.) It makes any bag accessible.
The top three things we’re best at are…
1.) I offer something that is truly beautiful in design that is also durable. I put my heart and soul to the design and paid attention to the look of it so that it would appeal to women that are very fashion-savvy.
2.) It’s high quality; I had it fabricated so that it wouldn’t wear on the leather and the upholstery of the car. I really wanted to create something that would give this company longevity.
3.) All of the instructional information is on the back side, so that if it’s given as a gift, it’s very clear what it is. I wanted the packaging to be very gift-worthy.
We are priced higher than our competitors because…
…our product is significantly higher [$30] than what my competitor would be because theirs is just a utility hook. Ours is like a little piece of jewelry for the car.
"I would like to get my price point down and that will happen with higher volumes. Even so, it’s a luxury item/gift, which justifies a higher price point. It’s a different consumer/different market."
One thing we offer that our competitors are unwilling or unable to provide is…
1.) Beauty and high-end, detailed embellishment.
2.) Attention to refinement and luxury (e.g. not wearing out leather seats, etc.).
3.) We made it easy. It’s a one-handed operation.
4.) We made it so it fits luxury cars.
The main thing that makes us different from our competitors is…
…We’re a fashion accessory versus utility hook. I want it to create a buzz.
Our best customers describe us by saying…
…Beautiful design, Easy to use, Functional as well as fashionable. It’s a practical, fun accessory.
When asked about the exercise, Cari said, "It took me about an hour to do the reading, the research, and answer the questions. I liked that it really made you accountable for what you’re trying to do. It made me hone in again on what I’m working toward, overall, so I’m not getting caught up in the details.”
So… What does your UVP worksheet say?
Did it help you take a step back to look at the big picture?