As you are marketing your business, one of the most important things that you can do is to give your customers and prospects a reason for wanting to do business with you. Marketers call this your unique selling proposition or USP. The USP is the position that your company holds in the mind of your prospects. This position will determine whether or not they decide to do business with you.
The USP is not a tagline. It is not just a different way of advertising. In order to work for you, it has to convey the way you truly to do business. If you use the USP to attract a customer to your business and they don’t get the experience that you talked about that will be the only time that you see them. You can expect that they will never return to you.
In order for you to get the true benefit of having a USP, you need to be able to answer two basic questions:
- Why do customers buy from your business?
- Why should prospects start buying from your business?
When you are able to answer these two questions successfully you will be outlining how your company has chosen to compete in the market. As you know, every business that is successful in the long run has what is called a sustainable competitive advantage. In other words, when companies have to compete in markets where there are other products like theirs, they must understand what makes their product unique and what makes that uniqueness difficult for competitors to copy.
There will be markets in which it will be difficult to find a point to differentiate your products and services from those that other companies have. When that is the case, you will need to consider what kind of additional value that you can add to the product or service that others either cannot or choose not to offer.
In our next lesson, we will discuss methods for you to maximize your profits as you implement your USP. However, you can begin to work on the fundamentals of your marketing with us. Call today and we will help you get your USP in place. Even if you have an established business it is possible to increase your sales and profits just by making a few adjustments in how you present your business.