Mastering Value: Techniques for Creating a Unique Value Proposition.
Tips for identifying and highlighting what sets you apart from the competition.
The ‘Problem’
The apparel industry is fiercely competitive so offering something unique is crucial to early stage start-ups. Torsa is operated within one of the toughest spaces in the market, sportswear. We are sharing the realm with huge organisations like Nike, adidas, Lululemon Under Armour, Puma (the list goes on), and although we see ourselves vastly different to these brands, there is still an overlap in terms of product offering and customer. So how do we effectively differentiate ourselves from other companies and make customers take note?
When you start a business, you’ll hear the term ‘what problem are you solving?’ endlessly. This is playbook 101 when starting a business, repeated across blogs, thought leaders, social platforms and so on. However, in the apparel industry, I don’t think it’s always a case of solving a problem. Other industries yes, fashion, not so much.
If you look at the industry as a whole, people often buy clothing brands based on feeling rather than logic. Let’s take two of the leading sportswear brands, Nike and adidas. On the surface their product offering is very similar, but how they present their product, which athletes they work with, who they collaborate with, what messaging they use, what story they portray is unique to them. It’s these aspects that drives the customer to be fiercely loyal to one or the other, not the problem they solve, which in reality, is very similar.
Your mission
A brands mission is the backbone of an organisation’s operations. Having a clear mission is incredibly important for any business. It can act as a guide for your decision making, your design ethos, manufacturing practices, campaign curation and so on.
Case Study: Finisterre
A brand close to my heart for our shared love of surfing, Finisterre is an apparel brand inspired by the ocean. Their mission is clear; inspiring people that love the sea, and kitting them out to feel more connected with the ocean. This message resonates through this snippet from their ‘What Drives Us’ mantra;
We want to light a fire in the belly of everyone that loves the sea. To stir their romance, raise their pulses and draw out their courage. To kit them out and tell them stories. To make them feel closer to the sea and each other. Connected. Awake. Alive.
Finisterre stands by three guiding commitments; to product, environment and people. Their mission statement reads as follows;
Use our business to affect change, building enduring outdoor wear for those that love the sea and seek adventure, from materials that are ocean positive made in a fair and transparent way.
This mission is clear; with a firm emphasis on building product for people that love the ocean and adventure, but also with an emphasis on sustainability. In my opinion, Tom Kay (Finisterre’s founder) summed up the company’s value proposition perfectly through his messaging;
“At the heart of what we do is a purpose. A deep belief. That we can make truly exceptional products in a more responsible and sustainable way.”
Finisterre’s value proposition isn’t tied to solving a problem, it’s tied to their purpose. It’s through its messaging, it’s values and guiding principles that they create something unique. A brand built for ocean lovers and adventure seekers. Built in a sustainable and ethical manor as to protect the one thing which drives their purpose, their love of environment and ocean.
Your mission can absolutely be your unique value proposition. When you start a brand, dig deep into the why. Why did you decide to start a brand, why this industry, why this product? Why do you care so deeply? If you’re incredibly passionate about the values and meaning behind the brand, explore ways at highlighting this through product, campaigns, manufacturing, people and events.
Laser focus
Creating value starts by looking at what you do better than your competition. There are a few brands in the apparel market that focus on one thing done very well. There is often pressure to grow out categories when scaling an apparel brand, but, by focusing on just one thing, you’re able to master it. This, in turn, creates a unique value proposition for your customer.
Case Study: Hiut Denim
Hiut Denim has become somewhat of a cult care study reference in recent times. Known for resurrecting a jeans factory in the small Welsh town Cardigan, they built their unique value proposition around this. On their website they reference Malcolm Gladwell’s story about how becoming a master takes 10,000 hours, and go onto share how their denim makers have spent, in some cases, 30,000 and 40,000 hours making jeans. The revival of this denim factory meant that Hiut could tap into the masterful resources that were previously there; the people.
Hiut are clear on their value proposition; denim mastery. This snippet is taken from their website;
We make jeans. That’s it. Nothing else. No distractions. Nothing to steal our focus.
What this allows Hiut to do is craft their story around this focus. They are able to clearly demonstrate how they create unique value for their customer. Through countless hours of craft and a laser focus on denim, and denim alone, Hiut have mastered their craft, and with that, mastered their unique value proposition.
Unearthing your value
Trying to understand what value you bring to your customer is particularly difficult in the apparel industry. In essence, it’s hard to create a unique value proposition through product alone. Yes, maybe Nike can claim they have the lightest running shoe ever made, but there are also hundreds of other running shoes on the market that could fulfil your needs equally as well, albeit a few grams heavier.
As I mentioned previously, the process of buying clothing is very often a choice based on feeling and emotion, rather than logic. However, if you can succinctly deliver a message into ‘why’ that customer should buy from your brand, like Finisterre and Hiut did so well by telling their story, the value you bring is clear for the customer.
Unearthing your value is a critical step in building your business. It’s essentially the reason many of your customers will buy your brand over another.
Here is a list of four steps that can help you determine your unique value proposition.
1. List your product and services benefits
A first step is listing out what you do as a business, but mainly, what you do well. A tool you can use here is a “FAB statement” exercise: features, advantages and benefits. Let’s take a cotton t-shirt brand for example, this might look something like the below;
Feature: superfine, organic cotton
Advantage: comfortable, lightweight and breathable
Benefit: helps keeps the customer comfortable and sweat-free throughout the day
2. Research your customer
Talking to your current customer is undoubtedly one of the best ways to learn about your unique value proposition. Remember, these customers have found value in your brand, otherwise they won’t have bought from you.
The issue with customer research however is that it’s hard to uncover the true needs. They may say they bought your product because they were looking for a lightweight t-shirt for work. Try to dig deeper into their true needs. Tap into the emotional drivers behind their decision, not just surface level.
When someone is buying a luxury watch, they aren’t buying it for telling the time, otherwise they can buy any cheap watch. They are usually purchasing it because its a status symbol. However, there was one watchmaker that reframed the messaging of this, and helped establish it’s unique value proposition.
Case Study: Patek Philippe
Patek Phillipe, the infamous Swiss watchmaker, has played on tradition in their marketing for 20 years. The slogan ‘Begin your own tradition,’ accompanied by ‘You never actually own a Patek. You merely look after it for the next generation,’ unearths a completely new approach to owning a watch.
The Swiss watchmaker have reframed the watch as a status symbol to a symbol of inheritance of capital and values. The watch that grows in value over time. The story of the family in the anchor and the messaging that ‘you never actually own a Patek’ presents an object which isn’t bound by a value, but instead binds generations together, eliciting the powerful emotion of connection.
3. Research your competitors
How are your competitors providing value? By digging deeper into the competition, this will help inform gaps that may be missing, or alternative ways to provide value. If you’re doing the same thing as your competition, that customer is unlikely to switch over to your brand, as you’re not offering any value to them that’s not already being offered.
Circling back to point 2, ask your customers which other brands they considered before choosing yours. By understanding why they chose your solution, you can start to analyse what customers value in your business, and where your competition lacks. You can then start to tailor your messaging around this.
Final note
Creating value for your customer should be a key focus for any start-up business. The apparel industry is incredibly competitive and offering something unique, and of value, is critical to success. Take a read of our previous article which explores the concept of standing out in a crowded market. This could give you a few ideas about adding value through both product and marketing.
Like I mentioned previously, your unique value proposition doesn’t need to come through product alone. Finisterre and Hiut used their mission and heritage respectively to provide a unique story for their customer.