Friday, May 03, 2013

Your USP - E-Business Success Blueprint Workshop - Part 10

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USP (Unique Selling Proposition)
 I realize that the previous assignment was a very practical and time consuming one.

I hope that you had the chance to dive into the real world and see some results first hand.
I know that it is not easy, but if things were easy everyone would be doing it.

You need to realize that one person with whom you develop a personal relationship is worth more than 100 or 1000 visitors to your site from search engine traffic or from paid advertising services.

You need to be realistic though in calculating how many people will respond to it. e.g. Adland Digest is considered a very responsive list. If I send a survey to the entire list, I would receive around 150 replies back from 30000 member list. This is a 0.5% response rate.

In any instance, I'm encouraging you to continue with your surveys and looking for groups of people who can use your ideas.

This is lifelong process.

Today I would like to tackle the next topic in the domain of business development.

This is the time when you know what you want to do and you are just a few steps from creating your website.

USP - Unique Selling Proposition.

You need a USP to show how you stand above your competition. Your customer needs to see why they want your product as opposed to a product from someone else who might be even cheaper.

You need to provide a compelling reason on your website for your customer to jump on your offer.

To define your USP, you must ask yourself a key question which is, what specific benefit will people derive from dealing with me instead of my competition?

Make sure that you are offering the ultimate advantage.

To clearly offer the ultimate advantage, you could offer a special guarantee or benefit that your competition is not offering. For example, your ultimate advantage might be "fast and cheap", "fresh", or "overnight delivery".

You shouldn't ever build your website until you know your USP. To come up with your USP, write down at least 100 reasons why somebody would want your product over the competition's. Once the list is finished, go through the list and pick out the most important criteria. Then further shortlist it, by picking just one advantage that clearly identifies your ultimate advantage. You'll then build your business around that
core idea.

Make sure that you make an offer that no one can refuse. The next step is to think of an offer that no one can refuse. It must be a really great deal that makes people stop in their tracks and stimulates the "buy now" reflex. Some examples of great offers are:

30% off on the next purchase..

Buy one get one free.

A free extended warranty.

A complimentary special report.

Complimentary ads on your highly ranked site.

Make a powerful promise. Take a risk. Push yourself to stand out.

To really make a powerful impression, you must be willing to make a great offer. This can be done by providing a:

  • no questions asked money back guarantee
  •  lifetime guarantee
  • 1 hour free technical support

In essence, your USP is your business card on the internet. It is what sets you apart from the competition. You can use it on your website and your brochures and it will have a positive effect on your sales and business growth. A great USP can virtually accelerate your business's growth once people find out how unique you are and how you outshine the competition.

Next lesson...

Bogdan Fiedur

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