Wednesday, 17 November 2010

Marketing Mistake - 2

Not Having A Unique Selling Proposition (USP)

This will knock your socks off!

This is by far the most common mistake people make. USP is the one thing that differentiates you or your business from your competitors in the minds of your clients and prospects. Your USP is what makes the difference between having a truly outstanding business or a faltering one.

Often your USP can be found in your business - you just need to articulate it in a way that makes you stand out from the crowd. I can't stress enough how important this is to you. How can you expect your clients or customers to be able to choose you, over and above any of your competitors, if they can't quickly see what it is you do that is so unique and beneficial to them?

Outstanding businesses have been founded on a USP alone. For example, here is a very well known USP:

"Red hot pizza delivered to your door in 30 minutes or less - guaranteed."

Tom Monahan of Dominos Pizza created one of the most successful fast food businesses in the world from the strength of this USP.

Please don't dismiss the importance of USP. Your competitors are very unlikely to have one. This will make a massive difference to the growth and profitability of your business.

Plus there are other factors to consider...

If you are viewed by your clients or customers and prospects to be the same as your competitors, what do you think becomes the important criteria when they want your product or service?

That's right - Price!

There's no hiding the fact that as soon as you create your USP you automatically take your business out of the "price war" and into Nirvana of higher prices/fees - and less competition!

That's the power of USP.

Published by courtesy of Alchemy Networks Ltd

No comments:

Post a Comment