In order to stand out in a noisy marketplace and service your ideal customer, it’s critical every business defines their unique value.
This unique value helps a business hone in on who they are, why they are different and what they mean to their customer.
It then feeds into their marketing ability to target the right customer, at the right time, in the right way.
But when it comes to defining your business’ unique value, where exactly do you begin?
Here’s a series of steps designed to help you discover your unique value then use it to stand out from the crowd.
What do you do?
Discovering your unique value begins with a deep understanding of what you do. And while that sounds simple, the reality is most businesses don’t have a crystal clear picture of what that is.
For example, a car mechanic business is in the industry of servicing cars, and fixing things that go wrong, but really their business is about safety, providing security and offering peace of mind.
McDonald’s is in the fast food industry, serving meals. But they are actually in the business of convenience and saving people time.
When you know exactly what your business does and, therefore, why you matter to a customer, your unique value becomes clearer and you can start marketing this to the right people at the right time.
How are you different?
Chances are your business isn’t the only one existing in a specific space, which is why part of understanding your unique value involves clearly knowing and documenting how you are different from other competitors in the marketplace.
Is it convenience, price point, value, service, the trust factor, or something else entirely?
This difference becomes the basis of your service proposition. It allows you to clearly formulate what you offer and how that’s delivered.
Who do you serve?
Part of your unique value comes down to the clientele you serve, which is why you need to clearly define your ideal customer.
And contrary to popular belief, businesses often do not have a clear idea of who this is.
Your ideal customer may also be more than one person, but when you understand who they are, you can showcase your unique value in the places where they ‘hang out’.
What if your business didn’t exist?
This is a key question to ask when it comes to defining your unique value. If your business didn’t exist, what would happen?
How would people be impacted? In the case of the mechanic, people’s cars would break down – they wouldn’t be able to transport their family safely. They couldn’t get to work, they would struggle to get where they want to go.
In other words, by its existence, your business offers something valuable and understanding that allows you to create everything from your vision statement to your mission, to your core marketing messages and more.
What’s in it for your customer?
Whenever you consider your unique value, it’s important to come at it from a customer perspective. In other words, what’s in it for them, and why should they care?
When you look at it from their perspective, it helps crystalise your marketing message, which, combined with clear insight into your customer persona, allows you to market your business to the right people, in the right way, at the right time, in the right place.
How your unique value applies to marketing
Knowing your unique value is the foundation of your marketing strategy, allowing you to create marketing campaigns that speak to the right people in the right way at the right time.
Once you understand what you do, why you’re different, what would happen if your business didn’t exist and what’s really in it for your potential customer, you can do the following:
- Create a clear vision and mission
- Design a voice for your brand
- Advertise in the right place (where your target customer ‘hangs out’)
- Create a consistent marketing style and message that speaks to your ideal customer in the right way
- Engage with your ideal customer in the moments that matter
- Stop wasting time (and money) on an audience that isn’t interested in who you are or what you do
- Convert more prospects into clients
The final word
No business caters to everyone and nor should they. Every business has an ideal customer and unique value.
Once you know this, your marketing can begin to truly cut through the white noise and start speaking with the people who matter to you in the moments that matter to them.
Then and only then is your marketing truly effective. It resonates with the right audience at the right time.
And when that happens your business is no longer focused on selling, but rather catering to your customer’s obvious need.
Talk Strategy with Clive
With more than 30 years’ experience in mentoring small to medium-sized businesses around Australia. Clive works with company owners and their teams to grow their business and achieve goals through strategic coaching.