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How To Develop Your USP (Unique Selling Proposition)

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Information about How To Develop Your USP (Unique Selling Proposition)
Marketing

Published on March 6, 2014

Author: primetimewpg

Source: slideshare.net

Description

How do you get your business to STANDOUT from your competitors? This is very important if you really want to ATTRACT new customers. Can you complete this statement?
"My business is the only one in my industry that does_______
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Big Bang Marketing System Kevin Toney –the Marketing Coach (Big Bang Marketing System)

STEP #1 Develop Your USP/EVP Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Definitions:    (USP) Unique Selling Position, (EVP) Extra Value Proposition What makes your business DIFFERENT, UNIQUE, STAND OUT? Why should people do business with you, instead of your competition? Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Developing USP/EVP    How do you want to be perceived by the public? USP/EVP must be a true reflection of the experience customers have with your company Cannot be all talk and no substance Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Developing USP/EVP    If your USP does not match the customers experience, they will probably not return Examples: Wal-Mart – low prices Fed-Ex – overnight delivery Volvo - safety USP/EVP should be the cornerstone of all your marketing/advertising activities Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Assignment #1 Write Down The Reasons You Got Into Your Business Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Assignment #2 Answer These Two Questions Kevin Toney –the Marketing Coach (Big Bang Marketing System)

You Must Answer These Two Questions  #1. Why do people buy from you?  #2. If they aren’t buying from you now, why should they? Kevin Toney –the Marketing Coach (Big Bang Marketing System)

You need A Competitive Long-term Advantage  Find a way to stand out amongst your competitors  It’s challenging in today’s highly competitive marketplace Kevin Toney –the Marketing Coach (Big Bang Marketing System)

You need A Competitive Long-term Advantage  If you don’t have an obvious USP, create a unique value (EVP)- something extra that your competitors are not offering, something that gives people extra value and reasons to buy from you  Without a USP, price tends to be the deciding factor Kevin Toney –the Marketing Coach (Big Bang Marketing System)

USP Can Take Form In Four Ways    #1. Price leader – you are known in the public’s mind as having the lowest price #2. Differentiate – do something more or better, unique than competitors #3. Focus on a certain niche – sell to a small segment of the market and become the price leader or differentiate Kevin Toney –the Marketing Coach (Big Bang Marketing System)

USP Can Take Form In Four Ways    #4. Extra Value Proposition – provide more value, more quality, more services than your competitors a. Advice and assistance b. Highest quality Kevin Toney –the Marketing Coach (Big Bang Marketing System)

USP Can Take Form In Four Ways    c . Longer service warranty d. Location, convenience, delivery e. Speedy service Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Assignment #3 Which of the four areas do you see your company’s strength or uniqueness? Kevin Toney –the Marketing Coach (Big Bang Marketing System)

7 Key Characteristics of An Effective USP Kevin Toney –the Marketing Coach (Big Bang Marketing System)

7 Characteristics of USP    #1. Be able to state it in 90 words or less – answer the question why should people do business with you #2. Quantify the benefit as much as possible – “pizza in 30 minutes or less or it’s free” #3. Be specific In the areas of quality, service, selection, guarantee – if your lunch is not delivered in 10 minutes… it’s free! Kevin Toney –the Marketing Coach (Big Bang Marketing System)

7 Characteristics of USP    #4. Fill a void the competition is not filling (i.e.) Lens Crafters eye glasses and contacts ready in about 1 hour #5. It must be a value that matters to your customers and prospects #6. It evolves – based on what your competition does, does not have to be permanent Kevin Toney –the Marketing Coach (Big Bang Marketing System)

7 Characteristics of USP  #7. You must be able to execute your USP – no empty promises  Think of 3 places you shop frequently and why Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Assignment #4 Complete The Following Sentence Kevin Toney –the Marketing Coach (Big Bang Marketing System)

The Power Of Only    My company is the only company that……….. Think about your customers wants and needs and what your competitors are not doing. Create your own, unless you already have one Kevin Toney –the Marketing Coach (Big Bang Marketing System)

The Power Of Only    USP not only determines who you are, or who you have been, but also helps you decide who you want to be in your industry What can you do that your competitors can’t or won’t? What do your customers and prospects want that they may not know they want? Kevin Toney –the Marketing Coach (Big Bang Marketing System)

The Power Of Only    Research your competition to see what they are offering What can you do that they do not? What can you do right now to fill a void in the marketplace or offer that no one else in your industry is offering? Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Assignment #5 Make a list of products/services that you could offer that your competitors don’t. Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Ineffective USPs  “we have the best service, we have the best quality, we have the best price, we have the best employees”  If you say you have the best service quality or employees, what makes you the best … describe it in detail. Must quantify your statement Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Conduct External/Internal Research   Talk to your employees and customers to find out what they see as your advantage or uniqueness – why do they do business with you? If you have customers doing business elsewhere at other times.. Why? Can your company fill that need? Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Conduct External/Internal Research    When talking to customers probe them for details and specifics (i.e.) What is it about our service that you really like? Why do think we have the best quality? Combining the answers from your employees and customers will give you ideas for your USP WARNING: Don’t try to be “all things to all Kevin Toney –the people.” Marketing Coach (Big Bang Marketing System)

Executing Your USP    Make sure you can actually do it Don’t over promise and under deliver All employees must be informed and buy into your USP Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Ok to Have Multiple USPs   Based on your research you may find that you have more than one USP Different USP for different parts of your business Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Assignment #6 Make a list of services or products most desired by your clients. Put a start beside the ones you can fulfill. Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Four Steps And Tools To Determine And Uncover Your USP Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Four Steps To Uncover Your USP     #1. Focus group session with owner and staff #2. Phone calls/questionnaire to current customers (survey) #3. Analyze the competition – create a matrix #4. Write up the USP Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Focus Group STEP #1  Focus Group With Staff  Educate staff about the concept and importance of a powerful USP Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Focus Group STEP #1  Get their feedback on what they think your USP is  Begin by asking “ Why do you think people do business with you?” Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Assignment #7 Hold Your Staff Meeting Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Customer Survey STEP #2  Survey your top 20% of customers to find out why they do business with you  Tell them you are doing a brief customer survey and not selling anything Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Customer Survey STEP #2  Determine if your staff’s perception of why people do business with you is the same or different  Talk to past clients too, to find out why they stopped doing business with you Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Customer Survey STEP #2  Write down 5-6 questions that you are going to ask to get an incite into why people do business with you  Include at least one question on what more they would want from you if they could get it Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Customer Survey STEP #2  Determine who will contact the customers and how (phone, mail, email, in-person)  Develop a list of customers to contact (past and present customers)  Conduct your survey Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Assignment #8 Conduct Your Customer Survey (supply questions) Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Analyze Competition STEP #3    Find out if the USP you are formulating is really unique and different Shop their business, in person or on phone Read their advertising & marketing materials (website, brochures etc.) Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Analyze Competition STEP #3   Talk to their employees Talk to their customers Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Assignment #9 Conduct Your Competitors Survey (Top 2-5 Competitors) Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Write up your USP STEP #4    Write it up in a way that it can be used in all your marketing efforts Try to keep it to 90 words or less It should form the foundation of all your ads, brochures, website, sales letter Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Write up your USP STEP #4  Should give you a firm direction to go with all your marketing efforts  Use it in headlines and sub-headlines Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Write up your USP STEP #4  Should be the center of sales presentations  Will take some time to develop, but keep working at it  Hand out 3 examples of USP Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Integrate Your USP In To All Areas of Your Business Kevin Toney –the Marketing Coach (Big Bang Marketing System)

Get a Free Marketing Analysis Over the phone or in person Call 1-800-7964960 No sales pitch, just effective marketing advice www.FreeMarketingHelp.ca Kevin Toney –the Marketing Coach (Big Bang Marketing System)

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