If you have not read the book ‘The Ultimate Marketing Plan’ by Dan Kennedy, then you are leaving money of the table in your business. To fast track your business to higher profits grab a copy of this book
Now back to our topic…
Without question the most Important letters any business needs to know, you also need to do something with them in your business.
What does all this alphabet soup have to do with you and your business? If you don’t know the answer then you absolutely need to keep reading.
These little letters stand for:
- Unique Selling Proposition
- Unique Buying Advantage
- Unique Customer Buying Advantage
The reality is most businesses operate in a way that does not stand them out from their competitors. This might be due to the fact most businesses in a given industry don’t really stand out from their competitors.
What is making your business Standout?
Or if they do have some distinct advantage, they are not clearly articulating this to the marketplace. In most industries you can position yourself to stand out from your competitors simply by clearly articulating what you do and how you do it.
There is actual unique advantages and then there are perceived unique advantages. Both give you the same result – a competitive edge over your competition. As well as the ability to generate higher prices for your goods and services.
Having a strong statement clearly telling your clients why they should do business with you makes you stand out from your competitors.
The biggest problem for most business owners is they can’t see the ‘Forrest For The Trees’, this gives them the mentality of thinking there is not much difference between them and their competitors.
You can often take for granted the things you do, because you have grown-up with them so to speak.
Or if you have a distinct advantage over your competition are you making it obvious and shouting it to your market so it becomes an easy decision for your potential customers to choose you over your competitor?
You want to set yourself apart and here are a couple of simple steps to do it, start making a list of;
1. The Actual things that are different about the goods and services you provide.
This does not need to be something technical - it can be the simple things that matter to your client. If you do not have them in your business, think about how you can easily create some unique advantages. Then tell a great story around them.
For example I heard a story about a tradesman who literally gave his clients the ‘ Treatment’. When he arrived at their property, he put on boot socks, you know the type, those little cloth slip-ons surgeons put over their shoes in the operating theatres.
He then proceeded to roll out a strip of Red Carpet over their floor to protect their carpets or polished floors.
- Do you think this might have appealed to the discerning homeowner prepared to pay more for a premium service?
- What did it cost this tradesman to do this? Next to nothing, he was there anyway.
- Do you think he might get this customer talking to their friends about their experience?
- Is there likely to be less price objection to a premiums service – you bet.
Now do you think you can come up with a great statement to position you above your competition?
2. The Perceived differences – How can you re-state or advertise some aspect of your goods or services that are not obvious to your clients or over looked by them or your competitors.
Often things important to your client are left unsaid. With busy lifestyles and an incredibly noisy marketplace, often simply stating the obvious can stand you out from your competition who are only going through motions day to day.
Quick hints when building your USP or UBA:
- Be clear in your message, this is not the time to be clever or vague. You want your message to be completely obvious to your potential new customer, not leave them guess at what you meant.
- Be complete, your message should tell a complete story, not leave people wondering – Why should someone do business with you
- Solve a problem or fill a desire. People do things for 2 reasons, mostly to avoid pain or seek pleasure. Clearly state the benefit of choosing you over your competitor.
- Give it some OOMPH; make you or your business stand out.
- Back it up – YOU have to deliver on your promise.
So what is your promise? What is making you stand out and why should you potential new customer choose you over your competition?