Do you compete in a busy marketplace? Have lots of competitors all basically offering the same service?
If so, how do you stand out from the competition? Why would someone searching initially choose to talk to you over everyone else?
The short answer is by succinctly articulating your Unique Selling Proposition or USP.
So what’s a USP?
Your USP is a positioning statement that clearly illustrates why your business should be chosen over the competition.
Don’t have one yet? You can use the following ideas to craft yours.
A USP needs to tap into the fears, frustrations, major concerns and desires of your customer base while removing the risk associated with a buying decision on their part.
Think about the industry you’re in. What are the biggest concerns and desires of your typical customer. What holds your customers back from making a final buying decision? What are the typical objections you face?
It may help you to think about this using the headings below…
Price:
An obvious one, but fraught with danger. For a start customers who buy on price alone can be hard work! You can try and compete on price and offer something along the lines of, “Find it cheaper and we’ll give you twice the difference in cash”.
But most people don’t buy on price alone if you give them reasons why they should pay more. Which brings me to the next point…
Service:
Which would you rather have? The cheapest price and when something goes wrong, you’re left in the lurch? Or a provider that will charge you more, but look after you.
But people won’t know unless you tell them what you do for them both before and after the sale. How much you educate them before, so they make the right choices, and how you support them post sale.
Delivery:
We live in an instant gratification society. People want everything now and hate to wait. So you may guarantee a delivery time and pay a financial or other penalty for every day you’re late.
Guarantee:
If your product will last a lifetime, guarantee it! Remove any perceived risk the purchaser has when comparing your product to the competition.
Exclusivity:
People love to feel exclusive. If you make designer jewellery, tell your customers each piece is unique. Golf and Country Clubs use this to great effect. They don’t take “anyone” and there’s a long waiting list and stringent criteria to get in. All of which adds to the mystique.
Convenience:
Does your car hire firm offer to bring the car around to your client’s hotel? Maybe your dry cleaner picks up and delivers or has a before and afterhours drop off and pickup?
Availability:
People are in a hurry and want things immediately. No one likes a raincheck.
Video Ezy used this to great effect when they introduced, “Get it first time or get it free”.
Staff Skills:
Maybe you and your staff have particular specialist skills that your customer value? I remember a Mitre10 hardware store that boasted all their sales staff were tradespeople who could help you make the best choices for your handyman project. You could get expert help and advice. A major differentiator from that big hardware chain taking over the joint.
And finally, supercharge your USP with risk reversal.
One of the fears we face, especially when making an important or expensive buying decision, is “are we making the wrong choice”. “What happens if I make the wrong choice, or it doesn’t work”.
No one wants to make a mistake or look foolish, and this is one of the reasons people go away and “think about it”.
So where possible, let people try out your product or service and if they’re not happy, not proceed.
Lowa Shoes makes hiking and ski boots in Switzerland. They allow you to pick up a pair of shoes, go for a four hour or more hike, and return them at the other end. If you like the shoes you can buy them! And they do – in droves.
So get cracking. Design your USP and get more business.
And if you’d like help, give me a call on (02) 9499-7958. We just designed a USP and linkedin.com profile for a client in a highly competitive market, which will see her getting more business.
Rashid.
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