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20 Tips For Small Business Owners: Figure Out Your Unique Selling Proposition & You Will Be Ahead Of Your Competitors

Badged Google Partner
# 1
Badged Google Partner

 

From a customer's viewpoint, what makes your business a good solution to fix their problem or need?

There is a process, a strategy a formula for our business that works when marketing the digital, wholesale and retail markets.

When you approach these wholesalers, retail and digital markets you need to identify what is Unique about your product or service.

 

There is something in our industry which is called a Unique Selling Proposition or USP.

 

So what is The Unique Selling Proposition?

 

The unique selling proposition (USP) or unique selling point is a marketing concept first proposed as a theory to explain a pattern in successful advertising campaigns.

The USP states that such campaigns made unique propositions to customers that convinced them to switch brands.

~Cited by http://Wikepedia.com

 

What points should you consider about your unique selling proposition?

 

- Who will benefit from is product/service?


- What is special about your product/service?


- Where can the product be purchased, online in stores or both?


- Why should I choose your product over your competitors?


- Does your product offer something I need or will benefit from?


- How does it differentiate from other similar products?

 

Remember this, before you can start selling your product to other wholesalers, retailers, and customers you have to sell it to yourself.

 

Very few industries are one of a kind, fitness, health, relationship, household goods, education, entertainment all have similarities within their industry.

 

Here are a few strategies to consider when coming up with your Unique Selling Point and marketing your product

 

1) Look At Your Competitors
When you conduct a competitor analysis what you are doing is analyzing their marketing messages, advertisements, and what they "say" when they sell. What is your competitive advantage?

 

2) Put yourself in your customer's shoes

Entrepreneurs and inventors often forget that it is the customer's needs, not their own, that they must identify and satisfy.

 

*3) Know what motivates your customers' buying decisions*

Discover what drives and motivates customers. Go above traditional customer demographics, such as age, gender, race, income and geographic location.

 

*4) Uncover the real reasons customers buy your product instead of a competitor's*

Analyze your data. This step is crucial for the growth of your business. Collect and analyze data such as reviews, surveys, and offer incentives to customers for offering their opinion on your product.

 

*5) Discover product or service characteristics*

What is it about the characteristics of your product or service you offer which is different from your competitors that will interest consumers from buying?

 

*6) Identify your product or service pricing structure*

Should you charge high or should you charge low? Should you charge a one time fee or offer installment payments? This is a decision you want to make from the very beginning because to change it during a campaign could potentially ruin the business.

 

*7) Identify your products and services placement strategy*

In addition to having your product featured in a store consider offering your product online and for mobile phone users.

 

*8) How can your product or service solve their problem(s)?*

Consumers buy products because they solve problems. By identifying a potential problem that a customer may have related to your product you can effectively create a solution to potential buyers.

 

*9)What factors motivate their buying decisions?*

There are a variety of things that motivates buyers decisions, using a certain brand, customer experience, purchased the product based on recommendations or reviews and it is very important to identify what factors customers will use when buying your product.

 

*10) Identify Your Target Market*

Why do they purchase items from the market you are operating in? What needs does that market meet for them? Are they looking for a time saving, some expertise, a trustworthy supplier or something else?

 

*11) Offer a Who, What, Where, Why, When Answer About Your Product or Service*

The more information you can share about your product the better chance your customers will make a purchase.

 

*12) Create value for your products so your customers feel they are getting a real deal*

Everyone wants to think they have just made a great purchase and when you can create value around purchasing a product there is a good chance they will buy from you again or recommend your product to their network.

 

*13) Buyer Experience: What makes someone purchase a product?*

We have to make buying extremely easy for our customers. If we don’t then we just lost out on a sale. Most people don’t buy a product on first impulse, they usually are shopping for that product that is just right to suit their needs.

 

*14) Test and analyze so you can improve your USP and Marketing*

A marketing campaign never rests. Its success is dependent on the constant testing of online and offline campaigns. There is something called A / B Testing that marketers use to test the effectiveness of a campaign for a brand.

 

*15) Communicate Your USP and Market Your Product Effectively*

Coming up with a USP is one thing but marketing it is something totally different. You have to tell people about who you are.

 

*16) Why Consider Digital Marketing*

Any business that sells in the wholesale / retail realm must also consider using digital marketing. Tools such as a website, email marketing, text marketing, Google AdWords or PPC marketingsocial media marketing, and so many other techniques really helps customers find your product and make purchases.

 

*17) Analyze Your Data*

If you are not analyzing your customer, then why are you in business? These types of insights are invaluable to a business so they can optimize their website and marketing campaigns whether digital or offline to learn how they can attract new data.

 

*18) Host Online Video Meetings*

Most people may be camera shy, but I know that marketing a business with a hangout, demonstration, reviews, and testimonials by offering by video is crucial. Studies have shown that customers are more likely to push a play button instead of reading an article.

 

*19) Host Local Events:*

Hosting local events is just as important as hosting online events. There is something unique about being in front of customers that makes them feel like, hey this guy is real and he is here with me so I can learn more about this product. Grocery stores have done this for years to sell products in stores.

 

*20) Make The Customer Happy*

A happy customer is a repeat customer; they are free advertisers that will share your product online and offline if they have a good buyer experience. This should the number one concern of any brand or business because happy customers = more business.

 

The best USPs directly address a specific need experienced by a company’s ideal customer and should also emphasize what individual quality you are providing the customer.

Taking the time to assess your Unique Selling Point and considering these strategies gives the entrepreneur, inventor or business a market position that sets it apart from the competition.

 

What Sets Your Business Apart From The Rest And Makes It The Best?

20 Tips For Small Business Owners: Figure Out Your Unique Selling Proposition & You Will Be Ahead Of Your Competitors

Visitor ✭ ✭ ✭
# 2
Visitor ✭ ✭ ✭

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