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Thrive in a Saturated Market with a Unique Value Proposition

November 8th, 2022
By Republix

A saturated market can be a daunting place but it doesn’t have to be a place where businesses go to disappear. How can you thrive in a saturated market? How can you stand out among the competition? Let’s make sure your leads go right past your competitors to your door. To do that, you’ll need to uniquely position your practice in a saturated small-business marketplace.

What is a unique value proposition?

A unique value proposition is something about your business’s product or service offering that differs from your competitors. It’s part of your business that shows leads you’re special and better than the other businesses they’re considering.

Here are some examples of unique value propositions.

  1. If a competitor offers customer support during business hours, maybe you offer it around the clock.
  2. If a competitor offers email newsletter support, consider offering yours with customizable templates.
  3. If a competitor offers a great product but doesn’t have a friendly personality, offer your great product with a personality that customers will love.

With a unique value proposition, your business can focus its time, energy, and resources on one goal, directed at your ideal target market.

How to create a unique value proposition

If you’re not sure where to start, consider the following.

  1. Is there a sub-niche you can tap into?
    • As a competitor in a saturated market, find something more specialized you can hone in on. Having a smaller group of devoted customers is better than a larger group of cold leads.
  2. Focus on one thing.
    • Does your company have a specialty you do better than any of your competitors? Focus on that and gear your content toward that service or product.
  3. Appeal to your ideal customer.
    • Clearly outlining your target demographic will help create relevant content that will drive them toward your brand. Trying to target everyone with the same content won’t yield as much conversion.
  4. Use a unique personality in your industry.
    • If your competitors all have a similar personality, try something unique. Create a brand personality that will draw in customers and build a relationship with them.
  5. Don’t try to be the best. Try to be different.
    • Trying to be the best is incredibly difficult, especially as a small business in a saturated market. Being different is much easier and makes your competition more manageable since you’re no longer competing for the same thing.
  6. Be personal.
    • Providing personal content and interactions helps your customers bond with you. Brand loyalty makes selling your product or service easier.

Your unique value proposition can take many forms

If you know what your unique value proposition is, or if you know what it will be, where can it live? How can you show it to your target market? How will they know it exists?

1. Mission

It can be outlined in your mission statement. This can be on your website and your social media accounts. Your mission should also come across through your brand messaging. In action, if your mission is to provide the ultimate customer experience, then you’ll be engaging with your customers across all your platforms.

2. Vision

Your company’s vision is also something you can weave into your website and social media accounts. Your vision should be original and should outline customer-centric goals and objectives that intrigue your target audience.

3. Product positioning statement

A product positioning statement is a straightforward yet effective way of setting you apart from your competition. Here, you can state exactly what it is about your product that stands out from the rest and how it provides solutions to your target audience.

4. Customer pain points

Is there a customer pain point that isn’t being addressed by a competitor in your saturated market? That can be your unique value proposition. When customers might not get everything they want from a competitor, you can be there to provide a solution to their problems.

5. Brand identity

The core of your brand can be its differentiator. How you portray the brand, how you speak, your tone of voice, and the content you share, all have an impact on your unique value proposition.

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