Every business faces competition. Just Google your service offering and I’m sure there’ll be hundreds, if not thousands of results. So what separates you from everyone else in your category?
What is your positioning in your market? What expertise do you want to be recognised for? How can you ensure you don’t become a “commodity” and end up competing on price?
The answer is to develop a Unique Selling Proposition (USP) which succinctly answers the question:
“Why should a client buy from you over anyone else?“
There are 6 major angles to developing your USP.
- Your clients. You may work with a specific demographic, industry or psychographic. What’s the specific problem you solve.
- What you sell. Is it your knowledge, experience, a particular product or service.
- Your special angle. What do you do differently?
- What you don’t do.
- Add a time frame. Your clients will achieve an outcome in a specific timeframe.
- Your guarantee. What if it doesn’t work? How will you fix it?
A well-crafted USP tells the market exactly what you stand for and deliver. Your clients recognise themselves and contact you.
You’ll position yourself as the trusted authority and a recognised expert. By being unique, clients can’t make an apples to apples comparison. So you never fall into the commodity trap and compete on price. And you can charge premium prices.
And perhaps most importantly, you’ll recognise and embody your own value to your market which ultimately means you’re comfortable raising your prices!
Now many of you may well be thinking “I provide the same service as everyone else in my industry, so how could I go about differentiating myself?”
Every business has something unique about them. Be it your knowledge, experience or processes.
It’s a question of highlighting these and ensuring they actually matter to your clients.
Wrapping up – if you’d like help honing you USP, contact Rashid on 0414 913 334.