Differentiate and Grow Rich:
The Importance of a Strong USP
Copyright 2004 Eric Graham
“With 50 other companies selling the same products and services,
why should I do business with you rather than one of your competitors?”
The number of competitors you face as an online merchant grows daily.
If you can’t answer that one question, it’s only a matter
of time before you go out of business.
If you can answer that question and answer it clearly, communicating
it to your prospective customers in everything you do, your road to
eCommerce success is paved with gold!
Your USP or Unique Selling Proposition answers that most critical question.
If you have studied business for very long, you’ve probably read
or heard about the importance of having a strong, clear USP. However,
it doesn’t take much surfing online to see that few companies listen.
Most know that they need a USP, they just don’t know how to develop
one.
The process of developing your Unique Selling Proposition is fairly
simple (note that I didn’t say easy.) I conduct intensive on-site
USP development workshops for my clients around the world. By doing
these workshops I’ve discovered 4 critical steps to developing
your USP.
First, study your competition. Search online for potential competitors.
Pick the top 5 to 10 and try to determine their USP. Most will lack
a clear USP, for these look for some of the features or services that
they stress.
Now look for the gap in their products or services. What area of the
market could we better service?
Second, examine you own business. Sit down and brainstorm with your
staff possible USP concepts. Don’t judge the ideas, just write
them down. To stimulate thought and ideas ask the following questions:
It also helps at this stage to interview and survey your current and
past customers. Ask them why they bought from you rather than your competition?
What do they want from a
provider of your product or service? What’s important to them when
making a buying decision? What feature or benefits do they value most
or would like to see added to
your product or service?
Third, begin to write down and crystallize your ideas. Don’t worry
about length at first, just write down the key points of your USP concept.
Focus on the benefits to your customer of each concept. Develop a list
of 5 to 10 possible USPs.
Show this list to your staff, friends, family and currentcustomers.
Get their input and suggestions and use these suggestions and comments
to narrow your USP concept down toa single main differentiating concept.
Once you’ve settled on the most unique and compelling feature
of your product or business, begin to distill it down to one paragraph
that clearly communicates and sums up
why your customers should buy from you. Use this paragraph on your website
or in your print marketing materials where you have more room to explain
the unique benefits that you bring to your customers. However, it’s
still too long to for an effective tag line or slogan.
You still need to distill your USP down to one or two focused sentences
that clearly and concisely communicatethe benefits of your USP to your
customers. This statement should leave no question in your customers
mind about what you do and what makes you different than your competition.
This USP statement will become your tagline or slogan. This process
will take some time and your USP statement may require several revisions
before you’re comfortable with
the final draft.
Fourth, integrate your USP statement into everything you do. Put it
on every page of your website, on yourletterhead, in all of your advertising
and marketing. Communicate it to your employees, managers and staff.
Let it infuse into your corporate culture. Every time you talk to your
customers, employees or suppliers you should mention this USP. You cannot
just give lip service to your USP, you must live it and breath it! It
must become a part of you.
Every product, business or service needs a USP that will make it stand
out from the competition. It’s up to you to discover or create
this element of uniqueness.
Differentiate yourself, your business and your products from your competition
and watch your profits soar!
About the Author:
Eric Graham is the owner and CEO of several successful
online and offline businesses. Recognized as one of the top authorities
on eCommerce and Internet Marketing, Eric is a
sought after speaker and consultant. He also publishes the eCommerce
Mastery newsletter. Visit www.web-site-evaluations.com
to sign up for a free subscription.
