Unique Selling Propositions: The Power of Differentiation - Part I
By Kent HowellA Unique Selling Proposition (USP) is one of those easily overlooked aspects of sales that we tend not to think of very often as salespeople. Yet it is something that is essential for you to understand in order for you to know what clearly differentiates you from your competition.
Its important to look at a USP from three perspectives what it is, how you create it, and how you use it.
To begin with, good service, good selection, and fair prices are not significant factors for creating a USP. Youre probably wondering why I say that. Simple, its because these are things your prospects already expect and take as a given.
The days when businesses competed on price and service alone are almost completely gone, and no longer effective because potential customers can almost always find what you offer cheaper, with better service, and quicker installation, from a competitor (kind of like the Six Million Dollar Man better, stronger, faster).
What simple statement about your business, product or service, or brand (a quick, concise, sentence or two) tells your prospects that you are the obvious choice for them? This sounds like a simple answer that should just leap out at you, yet most businesses are not able to do it.
Your USP lets the marketplace know what you offer, what sets you apart from the other guys, and what you can do for them that will make them want to do business with you over and above all other available options... including doing nothing (a la the status quo). Your USP should focus on what you do best and what clearly separates you from all other competing businesses.
Your USP is a statement of benefits you bring to your customers that differentiates you in the market. It's the central point around which the success and profitability of your business is built; so you must be able to state it clearly and fulfill it effectively; and it's always stated in terms of the benefit it delivers to your customers.
This is your testament that tells why they should buy from you instead of the dozens or hundreds of others that are offering similar products and services. Your USP must be something that no one else has and that will be so attention grabbing that your potential clients will feel that they have to have your product or service.
The attributes or qualities of your company that sets you apart from your competition, makes your product or service more appealing to your target market, and the distinctive benefits your product or service provides your customers this is your Unique Selling Proposition.
A USP is not simply just a slogan that will appear in your advertising, although it may very well also be used for that purpose. It is the succinct and impressive phrase that answers your prospect's always-implicit question, "Why should I do business with you and instead of somebody else? To accomplish this task you have to first understand and accept one critical point: "You can not be all things to all people", so you must be focused.
The ability to convey the unique benefits of what you have to offer in a precise manner is of the utmost significance if you are going to achieve a noticeable difference between you and your competitors.
Some examples that illustrate the point:
⇒ FedEx - "When you need it there on time." FedEx has dominated the delivery market by delivering on its UPS promise of on-time delivery, regardless of location.
⇒ Dominos Pizza - "Fresh, hot pizza delivered in 30 minutes or less, guaranteed." Dominos has cornered the pizza delivery market by promising their pizzas will always be hot and on time. Their target market values the speedy delivery, not necessarily the quality of pizza.
⇒ Visa - "Its everywhere you want to be." Their slogan shows their focus on building the global acceptance of this credit card, and how easy it is to get and to use.
Businesses (especially small businesses) need to absolutely, positively have a USP that "cuts through the clutter", separates them from the competition, and positions you as the best choice... the ONLY choice.
Your USP is the very core of what you are offering. It must be so undeniable that it can be used as a headline that sells your product or service.
A powerful USP is the driving force that builds your business success.
What makes you different, or better, than your competitors? Do you provide proof with guarantees, client testimonials, or other supporting evidence that you will actually deliver on your promises and provide excellent service after the sale? Do you clearly define why a prospect should buy from you instead of other vendors providing the same or similar services?
The question is: What is so special, unique or advantageous about your product, service or business that would compel a prospective customer to want to do business with you instead of all of the other vendors and options available to them?
Being unique solely for the sake of being different is of no value to you or your clients. You want to be unique in a way that is meaningful to your clients and prospects; in a way that will make them want to do business with you.
In part II, I'll look at how to create a great and effective USP and how you use it to you utmost advantage.
