Speaker 1: Yeah, I would just feel so very misunderstood, like nobody gets it, nobody gets you, like yes, me too, I totally agree with you, I would handle that the same way, that's crazy, what's wrong with the world? My sister-in-law messaged me at about 1am a couple of weeks ago, it was just this random idea that she was thinking about and I told her, sounds good, all you need to do is come up with a unique value proposition and you're good to go, and she was like, eh, you mean value proposition, or what's that? I told her I would send her some links, but I never sent her some links, so this episode is for you sister. Today we're talking about unique value proposition, as promised in the last video, I said that we would come back to this very important topic and here we are. Now what exactly is value proposition? It's really what value, duh, your business or your idea is going to promise to customers. This is so important, especially if your idea is not that unique. You have to tell your customers why they should even bother giving you a chance or looking at your product or buying from you as opposed to anybody else or just taking their hard earned dollars and giving it to you in exchange for whatever it is you're selling. It doesn't matter if you have the best things in sliced bread, people are not going to pay attention unless you show them, hey, there's value in this, there's value over here, value over here. How am I going to come up with a value proposition? I'll tell you how. First thing you want to do is think about what's your bottom line, what is the main benefit of your product or service. Example, I am doing a platform that will connect quality local brands and experiences to the people who would love them. And my end benefit is trying all these quality local brands and experiences in one place. And that's my end benefit. Of course there are many other benefits that I can give, but my end benefit is it's everything that you're looking for in one place. You secondly want to get specific about it and note what exactly you're offering, who you're offering it to and why is it useful to them. At the end of this, you should be able to tell us what you're selling, what is the main benefit, who is your target customer. And further than that, you want to know what makes it unique. Now you might say, well, how do I make it unique? I'll tell you how. So you can look at an unexisting idea and say, well, I can design this differently. I'm going to make this different. Some way, somehow I'm going to design it differently. Take a look at these makeup applicators. It's the same thing, just designed differently. You know what I mean? Time. Anything to do with time can make your idea unique. So look at 30 minutes or free. That's giving your customer value. It's the same chicken that everybody is selling. But when you say, I'm going to get your food to you in 30 minutes or less, or it's free. Guess what? Value still hits. It's a unique value proposition that you're giving your customer and they're going to be like, well, I'm going to go with them instead because they're going to get me my food in 30 minutes or I'm going to get it free. Win-win. Or you can have a specific time for when your product is available. Another one is price. Your price can either be affordable or premium. You can go either way. Customer service. In Trinidad and Tobago, it has become a ridiculous culture of not having good customer service. So imagine if one company decided, I'm going to make this my value proposition. Customer service is going to be excellent. I'm only going to hire people who are people, people, people, yeah, who are people, persons, yeah, who are people, persons, and who love dealing with the customer. Just have a way with customer service. Value. If you think something as basic as let's say a grocery store and you open a chain of grocery stores and these people from the time they walk in the door is just having an amazing experience customer service wise, guess what? Value. People are going to want to shop there and they're going to leave out other grocery stores because they feel like they do not take customer service for granted. It is a great value proposition. Trust and belief. I went to a popular grocery store in Trinidad and Tobago, I will not name them, and they have a point system. And I never knew how to redeem these points. I was asking the cashier, well, how can I redeem these points? And she said, you know, you've been shopping here for so long and you don't know how to redeem these points? And I'm like, no, and I didn't even know that you could redeem the points for cash value, meaning it could go towards whatever it is you're purchasing and your points expire at a certain point and whatever. So I was saying, but maybe the cashiers should mention to the customers as they're shopping, as you pull up their information that, hi, your points are going to expire soon. Would you like to apply to this bill? You have $400 worth of points here. Something like that. You know what I mean? Oh no. She found that that was crazy talk. Like the information is so available and it's out there. And I'm saying these little things is what make your customers feel like, oh my gosh, I'm getting value here and I want to come here and I want to shop. You know what I mean? Maybe they don't want to listen to redeem points too. Free shipping. Free shipping is, it's a bonus value proposition. I wouldn't, I mean, it's so popular these days too. It's like free shipping. Yeah, we've heard it all before. Free shipping is one that you can give it, but it should be a bonus to other things and other value propositions. If you can get your customer to save time and buy stuff easily, that's a great value proposition. A good example is the subscription boxes that are so popular these days. So you mean, and especially for like everyday items, you mean I don't have to go to Pennywise every month? Think about if Pennywise implemented something like that. Like they have a website and you can just choose like razors, lotion and things that you run out of at a particular time, whether it be a month or two or so. And they send it to you every month. They ship it to you so that you don't have to go to Pennywise and line up. I would use that service Pennywise. Comment below and let me know if you'll use that service from Pennywise. Maybe tag somebody. And the last one is offering like a range or certain types of products. And so let's say like I sell kale and I have all the different kinds of kale ever, then you're going to know me for being like the kale person and you may just buy from me because hey, that person has the kale. And that's pretty much this episode. I would just say that the value proposition is very important. You can literally put a price on whatever. I hear people say, well, you name your price and if people don't want to pay it, well that's their business, X, Y, Z. But it's not that people aren't willing to pay the price for your product or service. It's that they can't find the value. And you, my friend, you have to show them, give them that value. Then they would save if they have to, to get your product if they see the value in it. Your job is to show them the value and don't show them the value as you see it. Show them the value as they should see it. What are you doing? How are you solving this problem for them? They don't care that you are using the greatest technology ever. You think if KFC came out and said, well, we are using top-notch fryers to fry this chicken for you, nobody cares about that. Customers don't care that you're using top-notch fryers. They want to know that they get the food on time, they get it hot, it tastes good, whatever it is, whatever reason it is. I'm just saying, show them the

Speaker 2: value... Value, value, value, value, value, value, value, value proposition. Value proposition, value proposition.. value proposition, that's what I'm gonna sing. So yeah, that's it, I

Speaker 1: I hope you liked this video, I hope that you found value in it, and if you did, give it a thumbs up, share it with a friend, please hit the subscribe button, click on the notification bell, and I'll see you in the next episode.

Speaker 2: Value, proposition.