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Home::Online Promotion
Unique Selling Proposition, Explained
Author : Jim McCabe
Dear Reader,
So you have an information product and want to sell it online.
But why should someone purchase your product instead of your
competitor's? How do you make your product not only stand out,
but jump out, from the competition?
You need to develop what's known as a Unique Selling
Proposition, or USP for short. As Robert G. Allen (author of two
bestsellers: Nothing Down and Multiple Streams of Income) says
"To catch the fish, you've got to design your own unique bait."
The USP is a special promise that you make to your customer;
something that your competitor is not promising. This promise is
uniquely yours. The promise usually takes the form of a short
phrase (but can also be highly detailed). For example, Federal
Express promises "to deliver when you absolutely, positively
have to have it overnight." That promise combined with the
belief that the promise will be honored is what motivates the
customer to purchase from Federal Express instead of from
another overnight delivery company.
The USP can be considered intellectual property, and may be
registered with the US Patent and Trademark Office as a
trademark. No one can legally use a trademark without permission
of the owner. You, the owner, are then able to monopolize the
expression of your USP.
Not only does the USP differentiate your product from your
competitor's product. It also focuses the company on delivering
on the promise. This focus can lead to direct benefits in the
eyes of the customer; for example, guaranteed on-time delivery.
Consider the following when designing your USP:
1) What is your unique offering? What are the properties of your
product (or service) that differentiate it from your competitors?
2) What properties of your product are the most important to
your customer? (Federal Express properly conceived that its
customers wanted to receive the package quickly and on time.)
3) What properties of your product would be difficult for a
competitor to copy?
4) Can you craft a message in such a way that it represents your
product and is both meaningful and memorial to your customers?
5) How will you inform your potential customers of your USP?
6) Finally, test your USP to make sure that it meets the needs
of your potential customers. Talk it over with your customer
base. Run a survey if necessary. Make sure that your USP
properly reflects your online business. Tweak it accordingly.
Jim McCabe
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