Do you have a unique selling proposition?

My son, age 22, visited me at my home the other day. It was hot and he had his shirt off. I noticed something on his back. When I inquired, he matter-of-factly said "oh that, it's my new tattoo, doesn't it look great!" I was surprised and asked him why he decided to get a tattoo. With a big smile and a slightly arrogant stance he said that getting a tattoo made him feel unique. Besides his tattoo would allow him to standout more at the beach, which he felt would attract more girls.

I wish my son found a different way to be unique and standout, but this simple example speaks to a similar issue companies must address. What is your companies' unique selling proposition or position? Why will potential customers choose your firm over the many competitors available in today's global market arena?

New Webster's dictionary terms unique as:

U*unique", a. [F. unique; cf. It. unico; from L. unicus, ]. Being without a like or equal; unmatched; unequaled; unparalleled; single in kind or excellence; sole.

Are you presenting a unique reason for customers to come your way? More importantly, are you positioning your company with this unequaled or unparalleled product or service?

Back to basics
Many times companies begin well. They start, intuitively, with a good product or service idea. They know what they do better than anyone else and they go out into the market and do it. They gain some measure of success and then they hit a slight barrier. Usually it comes at the $1-2M area first. Then, if the company is lucky and continues to grow, they hit another barrier at the $10million dollar level.

Paradoxically these barriers are a direct result of success in the market. Understanding the impact and effect of this phenomena is articulated in Marketing Tip #409 - Barriers to Growth, suffice to say most companies hit barriers due to employee growth rates, and the mere issue of success -- not due to the lack of available market. Simply put, companies tend to lose their direction , and focus. Basically they forget how they achieved their good results.

Global Marketing suggests that company CEO's and senior leaders must always pay particular attention to what they do the best. Always get back to basics. Find ways to remind the company, and potential customers the reason for the business. Companies must continue to enunciate, focus and bang away at the unique selling proposition in your target market. Doing so will ensure that your company continues to gain market share, keeps customer confusion to a minimum and frightens your direct competitors. These are all good things.

Why is a unique selling proposition so important? It was back in the late 50's that the concept of having a unique selling proposition evolved. Generally, Rosser Reeves with the Ted Bates & Co. Advertising agency is credited with first developing this technique. His view, and Global Marketing believes it is even more true today is as follows:

All advertising/promotions must make a clear, simple proposition to the customer -- buy this, and you will receive a specified benefit. The proposition must be unique -- something competitors cannot claim, or choose not to claim

The proposition must be so compelling that it motivates individuals to act.

Some examples that illustrate the point:

► Fed-Ex - "When you need it there on time." Fed Ex has dominated the delivery market by delivering on its UPS promise of on-time delivery, regardless of location.

► Domino's Pizza - "Fresh, hot pizza delivered in 30 minutes or less, guaranteed." Domino's has cornered the pizza delivery market by promising their pizzas will always be hot and on time. Their target market values the speedy delivery, not necessarily the quality of pizza.

► Visa - "It's everywhere you want to be." Their slogan shows their focus on building the global acceptance of this credit card, and how easy it is to get and use.

Creating or focusing on a Unique Selling Proposition?

You should start by understanding your targeted customers (yes it always begins with the customer). Define the advantage and benefits you bring to your prospective clients. Review competitors in your market arena and find out how you can do things better.

Possible unique selling propositions might include - convenience (more locations, easier to do business, etc.), Product breath (wider choice - good, better, best approach), higher quality (unique process or patented technology), or superior customer service level (orders filled within 2 hours of receipt). All of these can present a powerful reason for your clients to be compelled to do business with your firm - and that's the strength of the USP concept.

Don't try to be all things to all people. Declaring a unique selling proposition is just that - find a special or unique position to offer your targeted customers. Something that they must purchase from you and you a lone.

Once you are satisfied with your unique selling proposition, you must put it to full work for you and your firm. Integrate it into everything you do. All your promotional material, all you advertising, all you sale pitches, all your correspondence (including invoices) should reflect your USP. Don't waste an opportunity. Each time you communicate with your customers, deliver your unique selling proposition.

What makes your product, service and company standout and how you convey this important point is vital to growth and success in today's fiercely competitive market. If you don't have a UPS, create one today. It will give clear purpose to your company, compelling reasons for customers to buy from you and unparallel success to your stakeholders.