Gonna hit you with a tough one.
Many products are becoming commoditized on the internet. So now might be a good time to revisit – or create – your USP.
The unique selling proposition (USP) or unique selling point is a marketing concept first proposed as a theory to explain a pattern in successful advertising campaigns of the early 1940s. The USP theory states that such campaigns made unique propositions to customers that convinced them to switch brands.
“Differentiation is one of the most important strategic and tactical activities in which companies must constantly engage.” The term has been used to describe one’s “personal brand” in the marketplace. A clear USP helps consumers to understand differences between brand offerings in a category, and may also help consumers to form a positive attitude towards the brand and may ultimately contribute to improved levels of brand recall.
There are 2 major points of emphasis here. The first is UNIQUE. What is different about you vs your more recognizable competitors? How are you special? How are indisputably and quantifiably better?
Do you say
“We have great processing” – compared to what? Is it better than Brand X, Y, and Z? How do you know? Prove it
“We have great people” – Greater than who? How do you know?
“Great prices” – But are they The Best? Price is a number. It’s immediately known to be better or worse. There is Zero Subjectivity here.
The 2nd point of emphasis is to state it in a way that matters to THEM. What matters to THEM??
A long time ago I read a book that said “Everyone’s favorite radio channel is the same – WII FM”
Why does it matter to me? “We have great people” So what. Who cares?
Well, it might matter if you point out that a home purchase is a long and stressful process, so it’s good to work with someone you like.
What’s…..in…..it…..for……me. A better, less stressful experience might be worth a couple of extra bucks for someone who is busy.
But you have to connect the dots for them. Spell it out
Think of it in this format: State Feature. Explain why it’s an advantage. Then show “What that really means TO YOU is…….”
Working in the lending industry, the biggest one to me is “203k Program.” Lender are all over the place talking “203k 203k”. So -fucking – what?!
Only lenders know what that is?
And why does a customer care??
Even if you tell them it’s a “renovations loan” – – Yeah, and ??
How about “We have a program to get you the $50k to update your house to be as nice as the ones selling for $150,000 more.” NOW, my friend, you have my attention.
Way more people want “a loan to pay off all their credit cards and turn it into 1 way lower payment” than the ## who want a “Cash-Out Refi”.
“You know I can lower the rate on your FHA loan without actually doing a full refi, right?” Sounds way better than “Let’s do a streamline.” If I’m a car mechanic that means didly-shit to me.
Lowering my rate without a full refinance process sounds good.
In my credit repair business: We have a money back warranty. Which is better because you know you get what you pay for. Which really means to the customer that they will always get their money’s worth. And I explain it to them.
Heck, after saying that we “delete bad credit” I even personify it by saying that many people can see over 100 point improvement.
The focust on WIIFM is super important to your Unique Selling Proposition. Whether you are writing it for your customers or the people that you are recruiting. What matters to them?
How do you know? Ask and listen. With a heavy emphasis on listen. And don’t be scared to clarify by asking “I heard you say that ____ is important. What does that look like to you? How do you know ___ when you see it?” You might find out that it’s just a surface need.
You want to connect to their deeper need. That’s what makes you special. That’s what makes you Unique.