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Create A Unique Selling Proposition And Improve Your Profitability
Home based entrepreneurs and online business owners are always looking for ways to improve their marketing program. By showing an improvement in their annual marketing program, the business firm can attract new customers, show significant annual revenue (sales) increases, record attractive and higher profit margins, and record substantial improvements in their annual cash flow.
Now, let me explain the marketing tool that I am talking about.
It is called:
"What is your Unique Selling Proposition?"
Let me elaborate.
Have you ever heard the phrase?
"Wheaties Is The Breakfast Of Champions."
That is an example of A Unique Selling Proposition (USP).
The phrase goes back to the 1920's.
Once the manufacturer of Wheaties started using that USP in their printed advertising and radio campaigns, the sales of the product literally exploded!
And here is one way you can develop a USP for your business.
Study all the benefits of your product and business firm.
Simply take one product and start writing out all of the benefits that the customer will enjoy by purchasing from you.
Write them out one by one. Do this even if you have to use multiple sheets of paper.
Ask the question: "What are all benefits of using my product (service)?"
As a home based entrepreneur, also ask: "What benefit is most important to my customer?"
And also, ask: "Does my competition offer that Unique Benefit?"
If "no"... then you may have a possible USP that you can test.
YOU SEE___ customers buy benefits and not features.
For example, some customers want speed and power when it comes to buying an automobile. The fact (feature) that the car is rated at 265 horsepower does not spell out the benefit.An alert car salesman will discuss the speed and power that comes with the automobile.
If that is one of the Dominant Buying Motives, then the car salesman can point this out to the prospect during the sales conversation.
Remember that customers buy BENEFITS and not features.
Maybe, what this famous entrepreneur said will help you.
Charles Revlon said: "In the factory we make cosmetics. In the department store we sell beauty."
He did not sell just lipstick, alone. He sold lipstick to make beautiful lips! Does a woman want to have beautiful lips? Most women, if not all, want to look more beautiful.
Here is another example that may help you to visualize that the customer buys benefits.
"Melts In Your Mouth. Not In Your Hand."
M&M Candies are manufactured by the Mars Candy Company.
Customers don't want the candy to melt in their hands.
The candy that melts in the mouth produces a better and more satisfying customer experience.
And that example brings me to another way of looking at your USP.
Here it is.
"What problem does your product solve?"
If you can identify a problem that your product solves, you may be able to develop a USP from that problem-solving function.
For example, the washing machine was invented because it solved a problem for women.
The savings of time and effort for women were enough for them to spend the money for a washing machine.
Maytag took advantage of the fact that women wanted a washing machine to last without breaking down.
A washing machine failure represented a headache and caused unnecessary money to be spent.
"The Loneliest Man In Town Was The Maytag Repairman."
That advertising message was about preventing a problem from developing. It took advantage of the fear factor of purchasing an unreliable product.
And don't forget that a USP can be used in a variety of ways by the home based business owner.
Salesman can use it in prospecting for new clients, as well as during the sales presentation.
The USP can be included in the headline of a printed advertisement.
It can be used at the beginning of a radio or television ad.
And it can be used in the headline of a sales letter.
The online business owner can use The USP in the subject line of an email letter.
It can be used as a headline for an electronic ad on the internet.
Once properly developed a USP has multiple uses. The imagination is the only limitation.
And what is The USP that you use for your home based business firm?
As an online entrepreneur, what is the problem that you solve for your customer?
What benefits do you offer? What makes you stand out from your competition?
As a home based entrepreneur I hope you develop a USP for your business firm. Doing this will provide a tool for you to improve the results of your marketing program.
By showing an improvement in your annual marketing program, your business firm can attract new customers, show significant annual revenue (sales) increases, record attractive and higher profit margins, and record substantial improvements in your annual cash flow.
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