A unique value proposition (UVP) is a statement that communicates the specific, differentiated value a brand’s product offers consumers.
Attracting new customers can be beneficial for brands, but it can also cost more time and money than engaging existing customers. That’s why many brands put significant effort into upselling consumers to increase their cart totals.
Businesses can upsell in two different ways: encouraging the customer to buy more items and encouraging them to buy more expensive items. In both cases, the business would use person-to-person sales tactics or strategic merchandising to sell additional or more premium options.
Typically, a sales representative would upsell a customer by explaining or demonstrating the benefits of a more expensive product option. If a customer intends to purchase a basic pair of running shoes, for example, a sales rep might explain the benefits of an upgraded pair on the customer’s running ability, safety, or comfort. If successful, an upsell like this increases the business’ revenue and builds customer loyalty.