What's a UVP and why is it important in business?

A unique value proposition (UVP) is a statement that summarizes the customer segments you are targeting, and how you are different from your competitors. It should answer the question: “Why should I choose to buy this product or service and why now?” It’s a key element of developing a great marketing strategy because it serves as your “North star."

Accurately positioning your product in the mind of a prospective buyer is one of the most important aspects of marketing your offering. Your value proposition needs to show not only why your product or service should be chosen, but why inaction by the buyer is to be avoided, such as tapping into their fears which you will discover through the buyer persona process.

While it’s possible to use such a statement verbatim in your marketing communications, it’s more often used within a company to achieve consensus, and then that proposition can be accurately and consistently expressed through marketing, sales and communication tactics.

Here's an easy way to craft a UVP:

1. Your first sentence is the VALUE of the offering:
FOR - your target customer
WHO - needs what/fears what
OUR (product/service) - your offering
THAT - statement of benefits

2. Second sentence is POSITIONING the value:
UNLIKE - your competitor (do not need to name just describe)
OUR (product/service) - its main differentiator(s)
BECAUSE - proof that benefits can be delivered

Here's my example:
For new and existing small and scaling business owners who need a marketing partner, JPSM is the strategist that provides business consultation, marketing planning-execution, and marketing-sales alignment. Unlike expensive agencies, our small business thinks big when delivering effective, efficient and affordable results due to our 25 years of marketing, communications and public relations experience.