Why do customers choose your business over your competitors’? And, why do they keep coming back if your business is NOT the biggest, the cheapest, or the only one providing your product or service?
Because you have a Unique Selling Proposition (USP) that makes your business stand out from the crowd and gives your customers/clients a reason to prefer to do business with you.
But many small business owners are not sure how to differentiate their business from the competition and struggle to attract and retain customers or clients.
How to Develop Your Unique Selling Proposition
Know your customers:
- Who are they?
- What do they want?
- How can you get it for them?
- Why do they buy your products/services?
Related Post: Define Your Target Market
Put yourself in your customers’ shoes and look at your business from their perspective. Why would they choose your business over your competitors’?
Is it for convenience, customer service, trust, quality. Or do you make them look good in front of their friends or colleagues?
Know your competitors:
- Who are they?
- What are their strengths?
- What are their weaknesses?
- Who are their target customers?
Related Post: Who are your competitors?
Compare your company’s products/services, price, place, promotion and people strategies with those of your competitors. Identify your strengths and their weaknesses.
What are the unique features, benefits, and value that you provide (and your ideal customers want) that cannot be easily duplicated, reproduced, or copied by your competitors?
Focus on aspects of your product or service that other businesses can’t say “me too” or are not subjective.
For example, many businesses claim that they are the “best”, being the best is suggestive since your competitors can also claim to be the best.
So instead of claiming that you are the “best” in your market place or industry, become the place to go or call for _____.
You Can Create A Unique Selling Proposition Based On:
What do you offer? Quality, performance, technology, superior customer service, processes, innovation, packaging, guarantee, or “green” products made by women in a remote village in Tibet.
Example of product differentiation: In order to stand out in the shoe business, TOMS Shoes’ USP is that they give a new pair of shoes to a child in need for every pair you purchase.
Price is never the only reason people purchase from your company. But it influences the perceived value of what you offer to your customers/clients and can differentiate your business in the market place.
Related post: Pricing Your Small Business Products or Services
Emphasize your convenient location; promote your unusual or exclusive venue, or the unique experience that you offer.
Fast delivery or shipment and quick turnaround on product or service orders are also place related benefits that can help you differentiate your business.
- Customers. After analyzing your competitors you might find needs that are not being met in your market. Define that niche market and be the expert that they are looking for.
- Employees. Their training, experience, or in some cases the way they look.
Example: Hooters restaurants has little doubt over their Unique Selling Proposition: All-American Hooter girls serving food in cheerleader outfits.
- You, the owner, may be the one who sets your company apart because of your personality, unique talent, vision, experience, or personal story.
Once you establish your Unique Selling Proposition, find out if it pass the “who cares?” test. And, make sure that you can deliver on your promise other otherwise your USP is useless.
Built your marketing around your unique selling proposition. Promote your USP in your marketing materials, website, blog, and advertising. Integrate it with your social media marketing as well.
Finding your unique selling proposition and promoting it will help you:
- Retain your customers,
- Attract new customers and
- Be able to sell your products and services for top dollar.
Keep in mind that the competition is also watching and you need to keep finding new ways to differentiate your business in order to keep your competitive advantage.
Finding time for regular and consistent marketing can be difficult because there is always other “business stuff” that takes priority.
MyMarketor can help you GET IT DONE! CONTACT US today and let’s grow your business!