Do you find yourself competing on price? Do you struggle to maintain customer loyalty? Is it a battle to convince new prospects to buy?
Welcome to your sixth Virtual Strategy Session, where we will discuss why you may be having the above issues…and what you can do about it!
First, a quick review. Last time, I revealed ten strategies for getting your existing customers to spend more money with you. You should have chosen at least two or three of those strategies to implement. If you didn’t get to it yet, please go back and read the previous email and complete that assignment before you move on to this one.
Today, I want to share with you a foundational principle that will revolutionize your business:
UNIQUE SELLING PROPOSITION (USP).
If you don’t already have a USP, NOW is the time to change that.
You see, the lightning-quick speed with which information is available now makes almost every market a “commodity” market. This means that people view most products and services as a dime a dozen, and will scout around, searching for the best possible deal. As a result, many business owners resort to slashing their prices to compete.
But when you have a solid USP, you don’t have to fall into this trap.
That’s because when you can clearly and effectively communicate to the market how you are different, better, and more suited to their individual needs, you STOP being compared to every other competitor in town. You become your own category.
Your Unique Selling Proposition is that single, unique benefit, appeal, or promise you hold out to prospects that no one else offers or articulates like you do. It is the reason why, all else being equal, your customers will beat a path to your door, while your competitors race to cut prices yet again.
There are two important reasons why a strong USP is crucial to your success:
- It provides you with a clear focus and direction for your business and marketing. Without this clear focus, how can you expect to communicate the benefits of your company to your intended audience? On the other hand, with this focused direction, you will develop a true passion for what you are doing. You will have a deep understanding of what is unique about your business. You will communicate more powerfully with your prospects and customers.
- Your USP provides your prospects a clear, rational choice of where to spend their money. This grows from the conviction you have about your business. If you don’t know why your customers should choose you, can you really expect them to figure it out? Remember, people want to be led. They crave a logical reason to make a buying decision. A good deal just is not enough. Find that extra reason to help them justify their desire to do business with you and you will have more customers than you know what to do with.
Think about how you are unique from the competition and start articulating your USP. This is vitally important for your business, so if you’re at all confused about how to create and implement an effective USP, let’s talk. Call me direct at 506 872 2900, send me an email, or CLICK HERE to book a FREE 30-minute appointment to ask any questions you may have.
Next time, we’ll talk about another important strategy that will set you apart from the crowd: A rock-solid guarantee.