The USP is dead!

Typically the purpose of identifying and cultivating your USP ('Unique Selling Point') is to differentiate yourself from your competition, by defining a clearly 'unique' service or product feature.

It is commonly believed that the more unique your proposition, the stronger your brand which in turn will lead to higher volume or greater value sales. However, there is a danger in pursuing a 'unique selling point' – if you have something that is truly unique, what stops your competition following suit and capitalising upon the opportunity?

You could invest significant time and monies – not to mention, blood, sweat and tears! – cultivating your USP, only to find that you are simply feeding your competition with valuable R&D. If they are able to adopt the USP better or quicker, they will go on to make it their own (rather than yours!) – leaving you out in the cold, wondering what went wrong.

A USP doesn't need to be unique. Instead of trying to identify a unique quality which you can sell, spend time identifying the value that your customers seek in the market. Then work out how your business can deliver and communicate that value more consistently than your competition. This will always win buyers over.

By understanding customer needs and communicating consistently, you will immediately overcome two of the biggest marketing pitfalls –

1. Being focused on what you can do, rather than understanding customer needs and the value they seek.
2. Failing to communicate consistently. You can out-gun your competition simply through a consistent message and persistence in communicating that message through every aspect of your business.

It's something which is clearly understood and followed in consumer marketing. Think of EasyJet. They weren't the first to offer cheap air travel, there were others already doing it, but they have cleverly and successfully positioned themselves in the market and made that category their own. So much so, competitors are left to fight over comfort, price and choice as alternative differentiators.

Discover how to position and brand your business with Essential Marketing. Call us 0117 9079930 and take the first step in unlocking your value.

The who, what, why, when, where of promotion

A highly successful promotional campaign is the Holy Grail of most businesses! And even if you hit on a formula which works perfectly, success will always have a limited life, as our environment and collective psyche change at an exhausting rate. This means the 'triggers' we respond to one week, may not be the same the following week.

However, there are a number of fundamental basics which are often overlooked, but can determine the success of a campaign. These are the who, what, why, when, where of promotion.

Who

Be specific. Consider the markets which are open to you and choose the one which is likely to yield the best returns. Don’t assume that every market open to you has the same needs and therefore can be targeted in the same way with a general campaign.

What

It may sound obvious, but make it clear what you are selling and what you want people to do as a result of seeing your promotion. Don’t bury the product or call to action in complicated copy.

Why

Think about why your targets should buy from you. Take time to understand their needs and create a compelling reason why they should respond to your promotion. If you don't understand why people should buy from you, then how can you sell?

When

This is all about timing. Don't expect a big response from getting in front of prospects just once. On average, you need to get in front of prospects 5 times before they retain information from your promotion.

Where

Think about which promotional activity will best suit your target market. There a literally hundreds of ways to promote your business... perhaps advertising in specific publications, outside in prominent locations or on the internet? Or direct marketing either by snail mail or email, which gives you opportunity to follow up individually with a phone call (this improves response rates dramatically). Choose the right format for your prospects.