A Prerequisite For Your Business
One of the primary factors, for effective sales, is your company’s unique selling proposition [USP].
The USP is that unique position that sets you apart in the minds of both your prospective and existing customers
This is core to why somebody chooses to make a purchase from you.
Ultimately, the USP should encapsulate the sum total of what a prospect experiences as you do business with them. If it doesn’t reflect their experience, it is unlikely that you will see them again.
Why do we need to do this?
•Establish yourself as an expert in your chosen field. It establishes your expertise, authority and value.
•Build a solid reputation within your industry.
•Increase your notoriety and improve your perceived value in the marketplace.
•It sets you apart from your competitors.
•It reflects your core values, personality, talent and skill set.
•It increases your credibility, especially if you can harness the power of the media.
• It creates a success spiral that can boost your health, wealth and career.
How do we do this?
We need to know who we are and what our strengths and weaknesses are.
The unique selling proposition is born out of the answer to these two basic questions:
#1. Why do or should customers buy from you?
#2. If they have chosen not to buy from you, why should they do so in the future?
A prospect needs to have a reason in their mind to choose you. If they don’t, your company’s position with that customer or prospect can be taken by company that CAN give them a reason that matters to them.
A company’s USP is typically defined by what makes it most competitive and unique.
It is the factor or factors that set it apart from companies like it.
Companies should be providing those things that their competition doesn’t, in a way that is valuable to the B2B sales prospect.
These unique additional value will continue to rest on the mind of the customer to bring them back to you.
Companies can create this unique value in four basic ways:
Although difficult to maintain, one way to maximize the USP is to become the lowest price leader in your class. Companies like Wal-Mart have mastered the practice, but it is evident that there are not many firms like that. This is one area to tread cautiously, before deciding that a price advantage can be maintained.
This advantage is created by companies that consistently do something better or different than the competition. It is important to note here again that the differentiation factor must truly matter to the customer
This is a focus on a particular subset of the market that other companies choose not enter due to its degree of difficulty to maintain
This is the ability of your company to provide a higher level of quality and service to your customers
Defining your unique selling proposition can be a powerful element of company’s profitability.
Here are some defining characteristics of USP’s that work:
1. It answers the question, why should people do business with your company and not its competitors.
2. It is brief. Experts believe that a USP should be less than 100 words long.
3. It is specific in areas of quality, service, selection and guarantee
4. It cannot and does not double as a mission statement
5. It fills a competitive void in the marketplace
6. It matters to prospects and customers
7. It is easy to execute at high levels of excellence
When you develop a USP it becomes the cornerstone of your marketing
It is foundational and should come before any marketing / sales strategies because it starts and ends in a prospective customer’s mind.
Savvy sales professionals can then catapult their sales effectiveness, by working from that foundation to build and maintain customer relationships.