Do You Know How To Make A Unique Selling Proposition For Your Business?
A unique selling proposition (USP) will help you make your business unique. Without a USP, how will your customers be able to tell you from your competitors?
There are many ways that you can create a USP and some business owners try to get very creative in making their business unique but that isn’t always necessary.
Examine each of your competitors and see what is unique about them, if anything, and see what you can do differently or better that will help you improve your business.
One area that you should never compete on is price. There are many reasons you should never compete on price but one of the biggest reasons is that pricing your product or service too low can make the consumer wonder about the quality of the product or service.
Example: If you and your nearest competitor have identical boats for sale that have a suggested retail price of $30,000 and your competitor prices his boat at $25,000 and you price your zip $15,000 to get the sale, everyone that looks at your boat is going to consciously or subconsciously wonder what is wrong with it.
A different approach to pricing your boat might be to put $35,000 on it for a price and in big bold letters right next to the price put “Ask Me Why.”
You could then explain to your customers that the price includes extras such as lifejackets, fire extinguishers, oars and the other essentials that are needed to pass a Coast Guard inspection. A gas card or additional perks could also be added and these extras are things that will be useful to the consumer that is buying a boat and it shows that you want to get them started out on the right foot with a boat that is ready to go.
By taking price out of the equation, you were able to position yourself as an advisor that can help them get the boat that fits their needs, their wants and their budget.
Trusted advisors can become friends of their customers and they often get more referrals.
If you deliver a product or service that fits the need of the consumer in addition to their wants without bringing the Walmart® mentality (always low prices) into the equation, you have a good starting point for your USP.
When you take the time to develop a five star culture within your business that delivers a five star experience to your customers and add it to always putting the customer’s needs first, you will have a USP that very few businesses deliver today.
Visit get your local reputation report to see what your local business reputation looks like online. Note: If you have no online reviews, your reputation is almost as bad as a competitor that has one or two bad reviews.
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