Unique value proposition

A unique value proposition is a clear statement of the specific benefit a customer gets from the product, and why it is better or different from alternatives. It answers: "Why should I buy from you and not from someone else?"

Features of a good UVP

• Focuses on the customer's problem and benefit, not on technology.
• Specific and measurable where possible.
• Different from competitors; hard to copy.
• Short enough to be understood in a few seconds.

Developing a UVP

1. Identify the customer segment and their main jobs, pains and gains (Value Proposition Canvas).
2. List how existing alternatives fail them.
3. Match your pain relievers and gain creators to those pains and gains.
4. State the single strongest benefit and the proof.
5. Test the wording with customers and refine.

 Value Proposition   <--fit-->   Customer Profile
 - Products/services             - Jobs
 - Pain relievers                - Pains
 - Gain creators                 - Gains

A common template: "For [customer] who [problem], our [product] provides [benefit], unlike [alternative]."

Example

"For small shops that lose sales because of cash-only payment, our QR payment app lets them accept any wallet in one minute, with no monthly fee, unlike bank POS machines that need deposits and contracts."

Answer: A UVP states the distinct customer benefit; it is built by matching customer pains and gains with the product's relievers and creators and then tested.