(2023-07-22) Maurya Crafting Attention-grabbing Unique Value Propositions

Ash Maurya: Crafting Attention-Grabbing Unique Value Propositions (UVP). The first battle for any product is getting noticed by customers. This isn’t the job of your demo or solution but your unique value proposition (UVP).

Crafting an attention-grabbing UVP is hard because you have to promise something
in a few words (be concise),
that’s novel (be different),
but believable (be specific), and
valuable enough to cause them to act (be better).

customers don’t (initially) care about your solution. They care about outcomes and removing obstacles that stand in the way of achieving them.

Unique Value Proposition is a single, clear compelling message that states why you are different and worth paying attention.

Here’s a 5-step process for crafting a compelling UVP:

1. Identify who's it for (Early Adopters)

2. Identify what's it for (Jobs-to-be-done)

Don't settle for benefits. Instead, focus on desired outcomes.

be wary of the Cinderall tradeoff: To keep believability and scope in check, I recommend starting with the smallest outcome you believe will be enough to cause the customer to act

3. Identify what they currently use to get the job done (Existing Alternatives)

ask how people currently get the job done.

4. Identify what’s broken with the status quo (Obstacles)

5. Why is Your Product Better (UVP)

If you are only incrementally better, the incumbent always wins.

To cause a switch, your unique value proposition needs to be significantly better. Think 3x-10x better.