The Unique Buying Advantage (UBA) is simply a statement that details why customers should purchase your product or service rather than purchasing from the competition. While the definition of a Unique Buying Advantage is simple, actually identifying your Unique Buying Advantage will take careful thought.
Consider where you are positioned in the market
The first step in identifying your Unique Buying Advantage is to consider where your business is positioned in the market: Are you known for your low prices or for offering high end products at a high end price? Do customers know you for your superior customer service, or are you best known for your industry-leading money-back guarantee? For what are you known by your customers?
If you're new to business, you must determine where you would like to be positioned in the marketplace before you identify your UBA. As we just mentioned, do you want to be known for the lowest price in the industry, or would you rather stand apart for providing top notch customer service?
(While positioning is essential to identifying your Unique Buying Advantage, you also must know where you want to be positioned in the market for marketing and advertising purposes.)
Identify the major benefit of your product or service
Why do your customers buy from you rather than from the competition? Identify the major benefits of your product or service. Knowing the main benefits of your product or service will help you clearly identify your UBA.
Step into your customers' shoes
What makes your business unique in the eyes of your customers? Look at your business and product or service through the eyes of your customers to identify why they do business with you rather than with the competition. Consider also asking your customers why they choose to do business with you.
Keep it short and sweet
Your UBA should convey your message in a few succinct words. While it should be short and to the point, your Unique Buying Advantage must also be specific. It should tell your customers exactly what makes your product or service different from and better than the competition.
Define your Unique Buying Advantage
You're ready to define your UBA. Remember to be as specific as possible when defining your Unique Buying Advantage while keeping it concise at the same time.
What's more, your Unique Buying Advantage must be unique and must be different from your competitors, so keep that in mind as you work on defining your Unique Buying Advantage.
Back it up
Essentially, your Unique Buying Advantage is a promise to your customers that must be supported with action. For example, if your Unique Buying Advantage is the fact that you offer superior customer service, you must make sure that you provide your customers with that top notch customer service day in and day out.
