Stand Out From the Crowd: How to Define your Unique Selling Point
Never underestimate the power of a good USP. It can make or break your business. Here’s how to define or redefine your company’s image so that you stand out from the crowd and grow your business.
List the Features and Benefits That Are Unique To Your Product or Service
You need to know the features and benefits of your company’s product or service. So, for example, you might try doing a Google search for your competitors and compare their products and services to yours. What do they offer that you don’t? And, what do you offer that they don’t?
Identify the benefits that set you apart from your competitor.
Let’s say you sell tool box foam supplies. What makes your supplies different from others in the industry? Maybe you’re the only company that offers such a product. Or, maybe you’re the only company that machines your foam so that tools fit more precisely in the carrying case because you form-fit all foam to fit the customer’s tool set.
Most companies in this industry only have a standard toolbox, with either magnetic or generic non-slip rubber padding.
Decide What Emotional Need Your Product Or Service Fills
Think about your product or service from the perspective of your customer. What emotional needs does this product fill? For example, does this help them feel more secure or does it help them relax?
Let’s say you sell high-end beds and bedding. Why do your customers buy from you? What emotional need does your product fill? Maybe it’s that your customers are getting a better night’s sleep, so it makes them feel more rested. Because of that, they feel more energized during the day. Those are emotions you can sell to your customer.
If you happen to sell vehicles, as in a car dealership, you might sell peace of mind or the feeling that the customer is getting a great value on the automobiles you sell. People love getting a good deal when they step onto a car dealer’s lot. This is an emotion you could sell in this industry.
Create Short Phrases That Describe What You Do
You must know what it is that you do. Create 25 (minimum) short and simple words or phrases that describe your company. Keep them clear and concise. Incorporate emotional words that you used to describe how your customers emotionally benefit from your product or service.
Also, incorporate your differentiator – that thing that distinguishes you from your competition.
Avoid the use of industry or technical jargon. If you say this phrase to a potential customer, they should be able to understand what it is you do, and how they will benefit from doing business with your company.
Identify Things About Your Company’s Product or Service That Competitors Cannot Imitate
If your competitors can imitate what you do, why should people buy from you? Answer: they shouldn’t and they won’t. People tend to take the path of least resistance, so if you’re competing with other companies in the same industry, you’re taking business away from them. You had better have a feature and benefit that your competitors cannot match.
Describe What’s In It For The Customer
At the end of the day, customers want to know “what’s in it for me?”
Make this point clear, direct, and to-the-point. For example, if you’re selling pizza, you might say something like, “You get the lowest price in xyz town. Guaranteed.”
Or, maybe you could take a page out of Domino’s Pizza’s playbook, “You get fresh, hot pizza delivered to your door in 30-minutes or less or it’s free!”
The retail giant Target uses a simple statement to grab customers’ attention: “Expect more. Pay less.”
And, the international shipping company has a statement that sets them apart from its competitors, “When your package absolutely, positively has to get there overnight.”
Think about these statements for a moment. If you needed to get your package delivered to a vendor or customer quickly, and a company promises to do it, and builds a reputation for coming through for its customers, you’re more likely to want to do business with them, aren’t you?
Likewise, if you’re hungry now, and you don’t have time to make dinner, wouldn’t you want fresh, hot, pizza in 30 minutes or less?
What about when you do go shopping? You want high-quality goods, but you don’t necessarily want to pay more for them. You want a deal (who doesn’t?). You want to “expect more” but “pay less.”
Think about what you can offer your customers and blast that message out to them. Take a cue from the big brands, but make your statement unique to your company.
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