Unique Selling Proposition - Your Competitive Advantage!

To capture a larger market share and be viable, sustainable and profitable, you absolutely need to differentiate or distinguish your business, products and/or services from your competitors.

In other words, you need to make your business special in the eyes of your customers and/or prospects.

You can do this by creating what's called an Unique Selling Propostion or USP and then effectively convey that USP to your target market via your marketing efforts and business performance.

This is particularly crucial if you're operating in a highly competitive market.

What Is An Unique Selling Propostion?

Your USP is the one thing or idea that sets your business favourably apart from your competitors'. It's a statement of Advantages you bring to your customers that differentiate you from your competitors.

It's the focal point around which the success and profitability of your business is built and so you must be able to state it and fulfill it honourably and effectively. It's always stated in terms of the benefit it delivers to your customers.

Think about this:

"What's the one thing that makes your business unique and distinct? Why should people buy from you and not from your competitors? Do you promise great value, benefits or service?"

Advantages could include factors like a broad range of product selection, superior customer service, highest quality, best prices, and so on.

Effective USP Components

When formulating and implementing your USP, it's crucial that you bear in mind the following components:

1. Your USP must be truly unique
2. It must be strong enough to excite your target market and get them talking about it.
3. It mustn't be easily imitated or copied.

Look, anybody can claim that they provide the best service in town - "We're The Number One Service Provider In America". Do you think this is credible? Of course not, people can see right through it; it's lukewarm and is an empty promise because you can't measure it and you can't hold them accountable. USP such as this can in fact harm your business instead of helping it.

Your USP really needs to pack a punch.

Now, let's take a look at good example:

"Your Parcel Delivered To You The Very Next Day, or It Costs You Nothing!"

The above is a powerful USP. As you can see, you can actually measure it and hold the Company accountable; the company actually guarantees the delivery of your parcle the very next day or it doesn't cost you a cent.

Can you imagine what this will do to the Company? It'll put it head and shoulders above its competition.

Many business owners often wonder why they should be unique. They wonder what's wrong with being a "me too" business.

The fact is that if you're unique, you're almost guaranteed to outperform and outdistance your competition. It's also a fact that a "me too" business will eventually go to the wall.

Let me ask a question:

Do you set up shop before identifying and formulating your USP?

If you do, don't!

Here's an illustration why...

You set up a provision shop in an area where there're already four of them operating in it.

The current market share is being split amongst the four provision shops, and out of the four, three of them are struggling.

By setting shop in that area, it means that the current market share will have to be further split amongst the five of you.

What makes you so sure that you'll be profitable if you're not unique and operate as an "also ran"?

The fact is that the odds is really against you because you're no different from the rest of your competitors.

The days where businesses compete on price and service alone is no longer that effective because the potential customers can always get what you have to offer much cheaper and with a better service somewhere else.

What you really need is to be different and unique in order to outperform your competitors.

By now you can see how powerful a statement of USP is to your business. As I've mentioned in the beginning, it is the focal point around which your business is built. It forces you to be clear and define exactly what advantages your customers can expect from doing business with you.

And as such, it'll drive your marketing efforts and have a profound impact on your operations.

Coming up with a clear statement of your USP doesn't cost you money - just some of your time and thoughts. At the end of the day, it'll be time and thoughts well spent because of the increase in sales and profits that you'll reap.

Just do it today; this step is absolutely crucial.

About the Author

Copyright 2005 by Larry Lim, MarketingSphere

Larry Lim is a practising marketing strategist and tactician who dishes out highly effective marketing strategies and tactics that will enable you to successfully start and grow your business on the Internet.

His Internet Marketing Strategy website is jam-packed with internet marketing secrets and softwares that will skyrocket your sales, and shoot your profits through the roof.

---

Tie-In With Others To Maximize Your Business Leverage

One of the most rewarding, inexpensive, under-used, and effective methods... Read More

Getting Ideas for Your Postcards

If you're going to do postcard marketing on an ongoing... Read More

5 Reasons Your Marketing Communication is Falling Flat

One of my associates sent me a promotional email she'd... Read More

Ten Tips for Creating a Winning Proposal ? Part 2

Part 1 of this series described five critical components for... Read More

Secret of Strategy - Part 1

A step-by-step guide to creating a growth strategy... Read More

Marketing Manual Sample Outline

The key to success in any business relies a large... Read More

Your Secret Marketing Weapon

As a professional service provider, you're paid for what you... Read More

Customizing Booklets By Industry or By Company

Customizing booklets can be done by industry or by company."110... Read More

2 Step Marketing

Do it Right.I receive postcards all the time. The other... Read More

Eleven Reasons Donors Stop Responding To Fundraising Letter Appeals

Donors will stop responding to your fundraising letter appeals for... Read More

Twelve Places to Buy a Mailing List

©2004 Jeffrey DobkinThere are two types of lists, determined by... Read More

Marketing Strategies: What Choices Do You Have?

Most business people want to see improvements in sales and... Read More

Starting Small Business Promotional Campaigns

So you're starting a small business. You figured out what... Read More

5 Steps to Success: A Surefire Way to Achieve Your Goals

No doubt you started this year with some big ideas... Read More

The Right Logo

The Logo: a little historyLogotype, commonly know as a logo,... Read More

Growing Your Business With Your Marketing Priorities

None of us have enough time in the day to... Read More

How To Achieve Success With Your Own Money Making Newsletter

Writing and publishing a successful newsletter is perhaps the most... Read More

Target Marketing - What Are You Aiming For?

Is Advertising Viable?At the turn of the 20th century, department... Read More

Quick Postcard Design Tips

TIP #1: Avoid the "Too Much Information" Syndrome... Read More

Ten Reasons Why Most Yellow Page Ads Fail -And Yours Does Not Have to

Grant Directory users are ready to buy Yellow Pages have... Read More

Developing the Unique Selling Proposition

The "Unique Selling Proposition" advertising campaign was developed by Reeves... Read More

4 Alternative Ways To Gain Lifetime Customers

You will always have more people that turn down your... Read More

5 Great Ways to Reach Your Target Market

There are many ways to reach out and find the... Read More

How to Write Irresistible Promotional Pieces that Attract More and Better Clients

Whether you're creating a sales letter, a brochure, a newsletter,... Read More

Big Ticket Marketing in 28 Minutes

I read an article recently about how many mainstream retail... Read More

Using Alternative Media to Generate More Customers

Last week I received a very nice thank you gift... Read More

Always Sell To New Eyes And New Ears

One of the hardest things for you to do as... Read More

Brochures that Generate Sales Leads (and How to Write Them)

One rule in direct mail is that your letter sells... Read More

How Your List Affects Postage Costs

HOW YOUR LIST AFFECTS POSTAGE COSTS AND WHAT YOU CAN... Read More

Making More With Existing Clients

Have you ever put on a jacket you haven't worn... Read More

Why Target the Matures

The "Matures" are the generations that came along between 1909... Read More

Why Market Research Will Help Your Business

Do Crucial Market Research For Free, On Your OwnIs market... Read More

Writing Guarantees that Sell

"This offer is good but can you guarantee it."Why write... Read More