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To customers, companies that are offering the same product or service can look very similar to one another; the reason being that companies often mimic each other’s marketing identities and therefore fail to differentiate themselves from the competition. The clever minority who find ways to differentiate themselves will benefit from more customers, the ability to command higher prices and lower marketing costs.
Your unique selling point (USP) is the one point of difference that sets your business apart from your competitors.
Ask yourself this; why should a customer buy from you, rather than one of the 10 other businesses providing the same service in your market?
Customers need a compelling reason to choose your products or services above others, it may just be one reason or it could be a combination, but whatever it is, that reason/reasons represent your competitive advantage!
Take a few moments to consider what your USP could be. How can you “differentiate” yourself and create a competitive advantage?
“Don’t try to be better… try to be different!”
Al Ries and Jack Trout
A word of warning when thinking about your USP; don’t get fooled into thinking any of the following will suffice as a “differentiator”:
- Best price
- Quality service
- Testimonials and references
- Service responsiveness
These are expected by customers today and are likely to be offered by the competition as “standard”. Your USP needs to be over and above the norm and certainly something that cannot be easily copied.