Exclusivity: Does your product and offer stand out from the competition?

Tweet “Unicorn.” If you read the business press these days, it is a term you simply can’t avoid. The analogy of a mythical creature to describe a very real phenomenon — the startup that has reached a valuation of at least $1 billion. So what makes or breaks a startup? Why do some succeed magnificently while so many simply fizzle out? There are many answers to that question, but one key element that unicorns have in common is an effective value proposition. On the flip side, venture capitalist David Skok wrote that one of the reasons startups fail is, “There is not a compelling enough value proposition, or compelling event, to cause the buyer to actually commit to purchasing.” To help you create an effective value proposition, MECLABS Institute (parent research organization of MarketingExperiments) has created the Value Proposition heuristic. This patented heuristic is a thought tool, meant to help you optimize the factors that increase the force of your value proposition.   One key element that helps create a successful value proposition is the exclusivity of the product or the offer (denoted by “Ex” in the heuristic).   Exclusivity in product and service development I was listening to the Re/code Decode podcast, and host Kara Swisher asked, “Were you wondering why Buzzfeed hadn’t done this? Or someone else?” Stop here. Before I get to the interviewee’s response, consider this. One of the reasons startups fail according to Steve Tobak, who runs Silicon Valley-based Invisor Consulting, is that “competitors with existing…
Source: Marketing Experiments
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