8th December 2010
Last week I wrote about the benefits of working with rather than against your “competition”. Right at the end of the article I touched on USPs, your Unique Selling Points, which should make you stand out from the crowd. It then occurred to me that there may be many people who are not only unaware of their USPs, but don’t understand the significance and importance of defining these.
So first of all, do you know what makes you unique? If you are not able to say “yes” to that question with conviction, you need to stop what you are doing and analyse your business until you do know what makes you different.
You see the power of your USP allows you to feel strong in relationships with “competitors”, because you are never in direct competition – you always have something different and better to offer. The second great advantage of having a clear USP is that it helps when you are planning your marketing strategy. It allows you to focus on specific target market niches, and it gives you something to say in your advertising materials. Thirdly, and perhaps most importantly, it means you can differentiate yourself on price. Because your USPs should bring added value, you will be able to price your product or service higher than the competition, knowing that you can confidently justify this. Conversely if you do not have a USP, the only way in which you can compete is on price. So if you don’t want to fight over the scraps at the low margin end of the market, make sure you not only know, but publicise your USP widely.
BUT remember, people will quickly latch on to your ideas. So you will need to regularly modify and update it to keep at the front of the marketplace.
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…….Every one of you has things that make you feel happy things that please you and put a smile on your faces. It might be that you enjoy watching a cartoon maybe a Disney film that people are supposed to watch only as kids or when we have kids of our own.It might be that you enjoy watching your favorite band play or that you like or simply to sit in a cafe outside of town with your friends and loved ones.Each and every one of us has such hobbies.You know what?