The first step to building a six figure empire and even million dollar brand is to create a Unique Selling Proposition (USP).
What is a USP? It's the factor/consideration presented by a a seller as the reason that one product is different from and better than that of the competition.
Before you begin to sell you product to anyone else, you have to sell yourself on it. This is especially important when your product is similar to those around you. Very few businesses are one-of-a-kind. Just look around you, how many online clothing boutiques, consignment boutiques, and human hair extensions are truly unique?
The key to effective selling is having a "unique selling proposition". Unless you can pinpoint what makes your business unique in a world of homogenous competitors, you cannot target your sale efforts successfully.
Businesses offering nothing, nothing unique, no benefit and logical reason for someone to buy, other than hope wrapped in a cheap price, will equate to a failing business.
Your USP is the anchor to your brand. What makes your company different from the rest? What sets it apart? What will compel a customer to make a purchase from your business as opposed to from another business?
Creating a USP will compensate for higher prices and even an inferior product.
Here are some examples of USPs:
- Pizza Pizza: Free Pizza if your order is not delivered within 40 minutes
- FedEx: Have a packaged delivered overnight
Solve a problem, brand it, and the rest is history! Once you have your USP, you can then apply the icing on the cake (branding and marketing)!!!!
Need help creating your USP?
1. Uncover the benefits of your product.
When starting a business it must always be for the right reason: solving a problem, a want, or a need. What is the greatest benefit of your product(s) that sets it apart from competitors? Distinguish your customer's needs and what they want.
2. Be Unique.
When compared to other businesses yours must be able to stand out in a saturated market. What is the logical reason for someone to choose your business over another?
3. Be Specific/Give Evidence
Eliminate any skepticism to your business by providing detailed evidence of your business promise. Don't be shy to share customer testimonials, feedback, and results.
4. Keep your USP short, clear, and concise.
Paragraphs explaining your differentiations and uniqueness will not quickly get your customers on board. Keep your USP short and sweet.
5. Integrate your USP in all marketing materials.
This includes promotional materials, business cards, letterheads, signs, brochures, flyers, your website, email signature, voice mail system, etc.
6. Make your USP real.
Your USP must be strong enough to convince people to buy, or even switch businesses. You must capture your audience's attention. You must deliver on what you say and all promises and guarantees you make. Fraudulent USPS will get exposed, ruining your reputation and business.
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