Unique Selling Proposition

In Case You Missed It: USPs and More

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Yesterday, I had the distinct privilege and wonderful pleasure of being interviewed by Yasmin Razaq for her Explode Biz Profits event.

We talked about:
– how recessions are good and USPs are bad
– possibly the dumbest advertising sign I’ve ever seen
– two foundational principles for writing copy that people will respond to, and
– how to keep your messages out of email jail.

I also shared how you can get my ebook Stealth Selling gratis.

Go check out the replay at http://businessmarketinggirl.com/explodebizprofitsreplays/. I’m not sure how long Yasmin will keep this page open, so if you have any interest at all, don’t wait too long.

Update: If you’re interested in hearing the recording of this hour-long interview, I’ve got it right here. If you’re interested in getting a copy of my book, send me an email and we might be able to arrange something.

A note on Unique Selling Propositions
Theodore Levitt said that selling focuses on satisfying the needs of the business, whereas marketing works to satisfy the needs of the customer.

With that in mind, the USP is inherently focused on the company, product or service itself. Even a benefit-rich USP can be off-base.

Feature-focused USP: “Our product is awesome. It’s made from the strongest steel ever produced.”
Benefit-focused USP: “Our product is awesome. It’s more durable than other products, so they don’t have to be replaced as frequently, saving time and money.”

Sounds good, right? But even the benefit-driven USP can be improved upon. These are selling points, rooted in the needs of the one who needs to make the sale. What if you moved into the realm of marketing defined by Levitt?

Unique Value Proposition: “Our customers are awesome. They save time, money and headache by using with the most durable product available. It works more reliably, for longer periods of time and with fewer replacements needed.”

The wording is purposefully corny, but you see the difference, don’t you? It may seem like a tiny distinction, but even the tiniest change in perception and approach can create a big change in results. A slight edge makes all the difference in the world.

Don’t make your audience dig for the value they’ll get from you. Sure, they might be able to figure it out by your statements about how great your product is. But why not make what’s in it for them obvious?

Are You Sabotaging Your Own Marketing?

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On Thursday, I have the privilege of participating in Yasmin Razaq’s Explode Biz Profits teleseminar event.

Every day this week, business growth and marketing experts will be sharing their best insights into attracting more customers and clients, strengthening your personal or business brand and improving your overall profitability.

I’ll be talking about “5 Ways Businesses Sabotage Their Own Marketing.” Some of the topics we’ll get into are:

  • the mistake most businesses make when creating their online and offline marketing materials — actually, I’ll probably talk about at least 3 big ones
  • how recessions can be good things if you know how to weather the storm, and
  • the truth about Unique Selling Propositions (almost everyone I work with gets this wrong)

Go over to http://www.businessmarketinggirl.com/explodebizprofits/ to find out more about this week’s sessions. Plenty of good content is on the way. If you see anything that might help make your business better, register and attend the talks that appeal to you.

Each speaker will also be giving away a special freebie after the call.

Why not take a look right now? As I mentioned,  I’ll be live at 12 noon Eastern on Thursday, March 29th.

I’d love for you to get your hands on this high-quality content.

**UPDATE**

Listen to the interview here.

Edging Out the Competition

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Thousands of new businesses will open in the coming months. There will be really good ones, really bad ones and everything in between.

What can you do to outmaneuver your ever-expanding number of competitors?

How will you establish your uniqueness in the market?

What makes you more attractive to your chosen audience? How can you build on that foundation?

A.) Do you have a specialty? A very sharply-defined expertise or niche? You may or may know this, but specialists tend to be able to charge higher fees than generalists in any given field. Think brain surgeons versus general practitioners.

It’s also easier to get noticed and establish yourself as an authority in a small corner of any industry, rather than compete with everyone else.

B.) Do you possess a rare certification? Have you worked with a famous client who got outstanding results? Do you have a pile of testimonials from clients who will sing your praises?

If any of those distinctions apply to you, put that information in the foreground.

C.) What activities are you doing that others are not doing? Where are you available that your peers can’t reach? What can you add to your repertoire to take the strategic advantage?

D.) What are you willing to do that none of your colleagues has the guts to try? What ways can you think of to differentiate yourself from the pack?

E.) What special ways are you touching and helping people? Society? The world?

F.) Is there an unusual guarantee that you offer to your clients? Specific results you basically promise that they will experience?

Don’t take for granted that would-be clients know these things. Tell them!

If others make the same claims about themselves truthfully, you have some more work to do to find your unique value proposition (UVP).

If your peers could make the same statements, but don’t, you can preempt them and take ownership of those claims. Be the first, and everyone else becomes a copy-cat.

What is the biggest, boldest claim about your services that you can honestly make? Say it!

The idea that you should “under-promise and over-deliver” is another myth that can cause considerable damage if you believe it. There is no question about over-delivering – you should always do that. The problem lies in under-promising.

Under-promising can be suicidal for your business. Imagine a dentist who advertises “Your teeth will probably be fairly clean when I’m finished,” because he wants to under-promise. Who would ever set up an appointment with that dentist? No one will find out how amazing the final delivery is; they will visit the dentist who guarantees that his patients’ teeth will be sparkling white and healthy.

That only makes sense. Under-promising sets a low expectation, which makes the over-delivery all the more pronounced. The hope is to surprise and delight the customer. But, weak promises will keep a customer from ever considering the purchase.

Make the strongest claims you can make. Otherwise you end up blending in with the competition. A reliable way to secure a steady flow of the type of clients you want to work with is to be great at something (the very best if at all possible) and make sure as many people in your target audience know about it.

 

Death of the Web?

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In August 2010, Wired Magazine published an article entitled The Web is Dead. Long Live the Internet. The authors describe the dramatic change in the way people use the internet compared to how it’s been used in the past 15 years.

“Sure, we’ll always have Web pages,” Chris Anderson says. “We still have postcards and telegrams, don’t we?”

But as technology evolves and our use of it adapts, the traditional ways businesses have used the internet to build their brands and expand their influence will no longer be effective to the same degree. What worked yesterday simply will not work tomorrow. You may have noticed that downward trend is already taking impacting your online efforts.

Take a quick mental inventory of the time you’ve spent online lately. What are some of the traits you notice? Avalanches of information, often conflicting other sources. Mediocre content quality. Spam and scams. Wild pitch fests.

And everyone is an “expert,” even if they’re not.

Do you remember high school economics class? One of the first concepts you learn is supply and demand. As the supply of anything increases, its value decreases. On the internet, we’ve pretty much reached the maximum capacity for information demand, but the supply continues to grow exponentially.

So, you see the two causes for the general decline of perceived value of online information: 1) the low quality of the majority of content and 2) the super-abundance and ease of access.

On some level, everyone over the age of 16 senses this deterioration.

Seth Godin, one of the most popular marketing minds in the world recently wrote in his blog:

“…Prepare for a continuous erosion of what you pay for digital content, at the same time we’ll see a sticky and upward trend for what you might be charged for the… the scarce or custom.”

The world wide web is increasingly becoming a content flea market, so much so that internet giants like Yahoo and AOL are struggling with their current business models.

Don’t misunderstand. Although it seems contradictory, the internet is more important than ever. The rules are changing, and you will have to modify your online initiatives to take full advantage.

Counteract This Trend

To overcome the quality erosion of online information, you absolutely must offer something unique and indisputably valuable. You also have to be able to successfully deliver it to your core audience, the people who can most benefit from what you have to offer. Exclusivity can also protect the perception of high worth around your content.

Unique – It’s cliché, but you have to be yourself. Do the hard work of getting to know yourself and defining your Unique Value Proposition (UVP). Then you have to get the message out.

A large percentage of your peers heavily model themselves and their business after someone they admire. Modeling makes sense – up to a point. But imitation is a problem.

Legendary adman Bruce Barton notes that everyone possesses a “single spark of divinity that sets you off and makes you different from every other living creature.” Nurture that spark instead of copying someone else’s.

Not only do you have to have a one-of-a-kind persona, you have do conduct business in a way that differs from your competitors.

  • What can you do that others can’t or won’t do?
  • What do your clients experience while working with you that no one else can claim to provide?
  • How can you reach your audience in a way that the competition doesn’t?

Valuable – Everything you do should be impressive. Your personal brand and your reputation depend on showing yourself to be someone who improves the lives of others, not a peddler trying to sell stuff. (People love to buy, but they hate to be sold.)

Value starts with understanding what your target audience wants and needs, then helping them attain those things. A hefty percentage of people online are openly egocentric and their efforts online revolve around trying to suck money out of their customers’ wallets.

Quite a few businesses, entrepreneurs and service providers adhere to an online strategy that emphasizes quantity over quality. The more pages you have on your website, the more visible it becomes to search engines. More articles on more directories put you in front of more potential clients. Blogging every day will keep readers from forgetting about you and help you stay relevant…

That’s a lot of pressure! Placing so much attention to creating large quantities of content makes it difficult to make each piece shine. All of the information you make available to clients and prospects is a reflection of who you are and what you’re about. If your content is highly-visible but poorly crafted or boring, what have you accomplished? Not much more than demonstrating to more people that you’re nothing special. The last thing you want to be is average (or worse).

Search engine optimization (SEO) is another facet of your promotional efforts that can be tricky. Do you write to be attractive to search engines or to have the biggest impact on your readers?

Of course, you want to rank well in search rankings. There are benefits to being on Google’s first page. But, again, if you spend your effort to please the algorithms search engines use (which are constantly changing), you can lose out on opportunities to communicate more powerfully with your audience.

Focus on value. Remember that quality trumps quantity every day of the week

Exclusive – You are unique and valuable. You are not a commodity. Being too available decreases your sense of worth. Exclusivity gives the impression that your content and services are even more valuable. Make potential clients qualify themselves through opt-ins, purchases or other requirements.

Making some of your material available only to qualified individuals heightens the value and significance of that material.

The same is true for making some of your content or products only available in physical copies rather than electronic form. That increases your fulfillment costs, but that is part of what makes going offline work. It feels more expensive. Your prestige factor increases when your readers and listeners know that you’re “putting your money where your mouth is.” (This will also force you to deliver high-level quality because it costs you time and money to produce these items.)

Examples:

  • books
  • CDs
  • DVDs
  • print newsletter (free, paid or bundled with another service or product)
  • columns in print magazines

This distinguishes you from nearly all of your competitors and everyone else online. Rarity increases actual consumption of your content. Your teachings have little effect if they never enter your clients’ brains and get put to use.

Exclusivity builds a sense of belonging and entitlement. The effect creates a formidable emotional and intellectual bond between your audience and you, even while they’re forgetting everyone else.

Set Your Sails

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“It is the set of the sails, not the direction of the wind that determines which way we will go.”  – Jim Rohn

The economy is front, middle and back page news these days. Debt ceilings, the declining dollar and defaults are all we keep hearing about.

And lets face it;  the economy is in shambles. Experts across the country and around the globe are saying that a crisis is unavoidable at this stage.

Now I’m no economics expert, but I’m forced to concur.

The truth is, you and I can’t do much about America’s economy as a whole. The problem is just too big.

I’m not saying that to convince you to throw up you hands and take a fatalistic mentality. Quite the contrary.  Any good coach will tell you not to get caught up in things you have no control over, but to focus on what you can control.

So here’s the question that really matters: how’s YOUR economy?

You can get bogged down about the macroeconomic situation, but you should be more worried about protecting your personal microeconomy.

2011 has been my most profitable year yet as a copywriter. While so many of my colleagues are complaining about taking a hit, having difficulty finding gigs. On the other hand, right now, I have a waiting list for clients who want to work with me.

I’m not saying that to brag, believe me. I bring it up because if I can do it, so can you.

I’d be remiss if I didn’t give you a few insights into why my economy is not currently reflecting what we’re seeing in the economy at large.

1.) I’m continuing to give. So many businesses are clenching their fists, holding back what they could be sharing, for fear of being ripped off. Or, instead of taking the time to nurture leads and develop relationships, they are rushing the selling process.

Give as much value as you can. Giving information (in a strategic fashion) will firmly establish you as an expert, as an individual or business that cares about it’s customers and communities.

2.) Positioning. Don’t get caught in the death spiral of commoditization. You absolutely must be unique, especially during a downturn like we’re facing now. If your competitors can honestly make the same claims that you make about your business, you can only compete with them on price. You don’t really want to do that, do you?

Find your own unique selling proposition/competitive advantage and make sure your target audience knows why you’re a smarter choice than the other guy.

3.) Don’t react in fear. Define a plan of attack and be proactive. What do you want to achieve? Who do you want to work with? What  account are you aiming for? What do you have to do to get it?

Fear is killing your competitors.

Remember: “The possibilities are numerous once we decide to act and not react.” (George Bernard Shaw)

4.) Find out what your audience wants and help them get it.

5.) Don’t be afraid to negotiate confidently.

By all means, seek to understand the big picture. But also understand that no matter what the economy at large is like, there are always some people who are winning. Put yourself in a place to be one of the victors.