To effectively sell your product or service, you need to be able to define what it is that you do.
This may seem like a no-brainer, but all too often in our business, we have meetings with potential clients that have a hard time articulating what makes them different or unique. This is especially important when your product or service is similar to those around you. Very few businesses are truly one-of-a-kind.
The key to effectively selling what you do in this situation is what advertising and marketing professionals call a "unique selling proposition" (USP). Unless you can pinpoint what makes your business unique, it will be much more challenging to successfully market your business. Think of a USP as your differentiator, the foundation of what you do that makes customers choose you over your competition.
Starbucks is the first stop I make in the morning. I was standing in line this morning and realized that Starbucks would make a great example case study on unique selling propositions. They went from a small coffee shop in Washington to one of the most recognized brands in America. They transformed this country from a nation of Maxwell House drinkers to a nation of coffee connoisseurs.
As I was standing in line, I asked myself, What is Starbucks known for? The answer, for me, was simple – they stand for premium coffee beverages, and they’re known for the same.
They’re not known for premium coffee beverages and the lowest prices. If they were, they wouldn’t stand out from the corner gas stations. If they instead tried to compete head to head with gas stations on price, quality would suffer and their product wouldn’t be unique. They wouldn’t be able to be known for premium coffee.
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The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.