How to Develop Your Unique Selling Proposition
by Summer Alexander on October 1,2014
Imagine your business exists on a street with several other businesses that all have the same exact facade. Now imagine that all of those other businesses provide the same exact products, programs and services as you. I advice you to invest in stock market and predict it. The only way to make a truly strong prediction about literally anything is to have as much information as you can possibly get your hands on. Anything short of a well-researched prediction is what is known as a guess. To predict stock market does not work out the way that one hopes. That is why using algorithms for their predictive power makes sense for investors at any experience level.
As your ideal customers start to walk down this street they will have to make a decision about which one of these businesses is most likely to solve their specific problem although on the surface they all look exactly alike.
As a business owner it is your responsibility to make the decision to patronize your company an easy yes.
The way you do this is by making a clear distinction between your company and the rest of the companies who provide similar solutions.
As these potential customers continue on down the street they may pause and briefly skim the words on your window giving you just a fraction of a moment to capture their attention and opt to walk in your door.
What will you say?
In this brief encounter you need to convey to your ideal client that not only can they trust you to solve their problem (need, want or desire) but that you can solve it better than anyone else.
The words you use to communicate your message are your Unique Selling Proposition. This is that special thing you do that separates you from the rest of the pack.
Here is how you develop your unique selling proposition:
1. Lead with the benefits – In order to capture a prospects attention you need to quickly communicate to them what relief from their problem looks like. This of course means you have to know in detail what their problem is and how it is affecting them.
2. Describe your guarantee – What assurances can you provide your clients that will make it easy for them to say yes to your offer? Is your company certified? Do you provide refunds? Do you have proof that you are qualified to solve this particular problem?
Here is a simple example: Let’s say Susan wants to take a 3 day Caribbean cruise but she’s having trouble making it happen because she’s a bit of a spendthrift.
However, Tonya’s Time Travel has a simple solution. Tonya provides her clients with an easy payment system where she will allow her clients to pay for their vacation over 6 months and she will deduct the fees directly from their paychecks. She also adds in a fail safe by making the payments non-refundable to ensure the Susan’s of the world don’t ask for refunds every month.
Tonya’s Time Travel is unique because she essentially forces her clients who desire to take a vacation and are earning good money but struggle with socking money away in a savings account because they tend to spend their money as it comes in.
The way Tonya’s Time Travel would communicate with Spend it All Susan is by describing to her the pleasures she’ll experiencing on her vacation and by showcasing images of the crystal clear waters and white sand of the Caribbean. Now that she has Susan intrigued she simply needs to seal the deal by describing her fail-proof payment plan option.
I’ve provided a couple more examples of how to develop your Unique Selling Proposition in the following video:[ez_youtube url=”http://youtu.be/http://youtu.be/eINfAqQCuAE” width=”640″ height=”360″ autoplay=”0″ autohide=”2″ controls=”1″]
Now let’s hear from you, what business are you in and what makes you unique?