How to Find Your Unique Value Proposition

Dave Ramstack
Dave Ramstack
Published on October 23, 2020

Most of today’s insurance agents compete on an even playing field in terms of products and pricing. That is true regardless of what agency you work for. Because so many agents now offer the same coverage level for many of their products, it can be challenging to discover why a prospect should choose you over any other provider. Ask yourself if there is something you can offer potential clients that they cannot receive anywhere else. Once you discover what that difference is, marketing your agency to the public will become more manageable.

What is a Unique Value Proposition?

A unique value proposition can be many things. It could be a niche product your agency has to offer. Or it may be the fact that you have the technology and skills to provide your services digitally. Your unique value proposition is a straightforward statement that recognizes the benefits your team offers your current or potential customers. It is an explanation of what makes your products or services different from other agencies.
While it may sound like one, a unique value proposition is not a slogan or catchphrase for your agency. Instead, it is a statement describing your value, who you provide that value to, and what sets you apart from your competitors.

Find Out Your Unique Value Proposition In 4 Steps

If you are unsure about your agency’s unique value proposition is, now is the best time to find out. Many agents start without a clear view of their proposition, aside from providing policies, quotes, and aiding in customer service issues. And while that is an excellent place to start when you are focusing on your UVP, it’s essential to look even farther into what makes your team unique. Here are a few tips to help you find out your unique value proposition.

Recognize Your Target Audience

Your UVP should be the key element the helps you connect with your target audience. Take a moment to look at who is purchasing your products and services, and who isn’t. Who do you think could benefit the most from what you offer? Instead of merely assuming everyone could be a potential client, narrow down your list by looking at the characteristics of the clients you already have. Then create a message that showcases the unique value you can provide to this target group.

Understand What Makes You Unique

No matter what type of industry you are in, there will always be competition out there. Identifying precisely who you are competing against can help you determine what makes your agency, products, and services unique. It can also help you recognize what value you can offer that other agencies cannot. Once you understand who your competitors are, ask yourself why someone would purchase insurance from you instead. Be objective and back up your answers with facts instead of merely stating that you are better. That will help you get a clearer picture of your UVP.

Identify the Issue Your Product Solves

After you have recognized who your target audience is and why your agency is different from all others, you need to look at the problems your product is designed to solve. Think about a unique issue that your services could solve that another insurance provider could not. Be specific when you come up with your answers. There could be several different problems your insurance products could help solve. However, when you determine your unique selling proposition, you should look at the main points that relate to your target audience and your competition the most.

Think About What Your Company Stands For

Your agency’s unique value proposition is more than just a statement that explains what problems you can resolve. It should be a clear and concise message about your agency, who you are, and what you stand for. Your unique value proposition needs to explain what your agency can provide to the public and why you are different from all other agencies out there.

To learn more about finding your unique value proposition, contact our experts today for more details. We look forward to assisting you and addressing any questions you may have.

The post How to Find Your Unique Value Proposition appeared first on American Senior Benefits.

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