How to Fine-Tune Your Unique Value Proposition

How to Fine-Tune Your Unique Value Proposition

August 29, 2018

3 Minute Read

The trick to keeping future renters engaged is to hone your particular value proposition to highlight what makes you special. Once that’s done, get your leasing team on the same page with solid training so they can deliver the message smoothly and effectively.

Here’s more about what a unique value proposition (UVP) is and how to craft a smart message that will help your portfolio of properties stand out from the crowd.

UVP, defined

Your company’s UVP — which is also known as a unique selling proposition (USP) — is a well-crafted statement or group of statements that describe exactly what your business can offer and how it will deliver on that promise. A solid UVP clearly conveys what makes your offering different from the competition — and should be the centerpiece of your marketing efforts as well as a feature on your site’s homepage.

Make it your own

What’s your niche? How is your property different from the ones across town? Dig deep to come up with descriptors that will make an impression that is specific to your brand. For example, if your apartments include exposed brick or wooden beams, punch up your language with phrases like “old-world charm” and “natural materials.” Or if your building’s parking area boasts a blue-light emergency safety phone system, be sure to note it.

Learn from the pros

Borrow tips from companies that already have a memorable UVP. For example, consider the ubiquitous ride service Uber. The company’s UVP isn’t conveyed with a slogan, but everything about its marketing language successfully communicates how stress-free and easy it is to hail a ride: There’s no need for cash or even to engage with the driver. You simply tap the app and the car arrives.

Wayfair, on the other hand, has a more explicit UVP. The mega online furniture seller plants their earworm-worthy jingle (“You’re just what I need”) in ads featuring everyday folks shopping the retailer’s site — and absent-mindedly singing the tune. Wayfair’s explicit UVP conjures the sheer joy of quickly finding all the home goods you require and getting it shipped right to your doorstep.

Use real words, not jargon

Confusing business-speak won’t mean anything to your audience. Instead, craft a UVP with simple terms that convey the details of your community and how your properties and management team can contribute to an enjoyable living situation. Not sure how to create the right tone? Listen to your renters to learn how they talk about your property. You can also poke around on social media to glean current catchphrases.

Create a template

As you polish your lingo, have the leasing staff fill out a grid with potential UVP categories. List your target customer groups and their particular needs, as well as what your building offers and how your properties are different from the competition. Include the ways you meet residents’ demands, and then back up your success by touting accomplishments (multiple lease renewals, excellent online reviews and the number of referrals made from existing renters).

Train your staff

Your leasing and marketing staff is your not-so-secret weapon — they set you apart and make you special. Invest the time and training to bring them up to speed on your UVP. Write up standard scripts for your team to practice so the phrases flow easily. You might also role-play with each other, assigning some team members to act as potential renters who ask questions concerning the building rules, rental perks and details about nearby attractions.

Successful multifamily marketing hinges on a UVP statement that’s well-written and delivered with panache. And by combining what sets you apart with your renters’ needs, you’ll be on your way to a full, happy building.

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