What is your USP?

Sales MeetingNovember 10, 2010

Unique Selling Proposition

1940s Marketing concept proposed as a theory to explain successful advertising campaigns Campaigns made unique propositions to

customers and convinced them to switch brands

The term was invented by Rosser Reeves of Ted Bates & Company.

Strategy of differentiating a product or service by concentrating on unique features that are not offered by competitors.

Put Yourself in Your Customers Shoes If you were the

prospect being approached, what would it take to get your attention?

What can you add to your business that your competition doesn't offer?

Make that your USP!

Video

Marketing Differentiation- How to Stand out with Marketing

Differentiation WHO you are WHAT you do WHY you are the best

agent for the job at hand

WHAT makes you different?

WHY should someone do business with you?

WHO gave you the title of "#1"? 

Differentiation What are you famous for? What is your appeal to sellers and buyers

that is unique and distinct? Refine the way in which you communicate

so that your target market can understand in a nano-second how you are different from your competition

Ideas to Consider Uniqueness Specifics Relevance Believability Conciseness

Motives for Buying Desire for Gain Fear of Loss Comfort and

Convenience Security and Protection Pride of Ownership Satisfaction of Emotion Satisfaction of Ego

“Shop" Your Competition Outside of research, everything is

speculative Develop a clear sense of who your

competitors are There are a lot of agents to choose from Sophisticated Consumers

The goal should be to turn it around and get out in front of the competition

What a USP is all About Consider the needs and wants of your

most probable clients Communicate how YOU and ONLY you can

satisfy those needs and wants best Believe in yourself and your own abilities  Confidently communicate the advantages

of doing business with YOU!

Think About It What most real estate professionals do is

___________! What I do is __________! How this benefits YOU is _________________! Consider what other clients say about you

and what you think of yourself Boil it all down to a simple and easy to

communicate message

Strategic Differentiation 1) Who is your target audience? (what are their

challenges?)

2) What does your service do for that audience? (What do they get out of working with you?)

3) Take time to Listen to what your potential customers (and customers) are telling you.

Brainstorming Clear your mind of any preconceived ideas about

your product or service Be brutally honest…

What features of your business jump out at you as something that sets you apart?

What can you promote that will make customers want to choose you?

How can you position yourself to highlight your USP? Not about having a unique product or service; it's

about making your product stand out in a market filled with similar items.

Brainstorming What customer value have you created?

Offer something radically new to the market Fulfill needs customers were voicing

List key features and unique benefits to customers Ask what they like best about your product,

your services, or your company Compare your offer to your competitors Brainstorm with to generate ideas that give you

the basis for writing a strong, specific and differentiated USP

Focus on… Target Market: Stand out as an expert Problems you want to solve The result of measurable difference A different approach The one niche, need or gap that is most

sorely lacking

Use a combination of these methods Set yourself apart

Benefits Make a list of all the benefits you offer to your

customers. Write down everything you can think of

Is there one major benefit on the list your competition doesn't offer? If the answer is "yes", that's your USP. If the answer is "no", you probably don't have one.

If you don't have a USP: create one by adding something to your business you're not already doing.

USP: Types Product feature: may

be based on product features associated with the product, ranging from what it does to the quality of your support services.

Emotion: may be based on an emotional appeal, such as love, humor, or fear.

Association: may be communicated by association with a well-known personality.

Clients Come First USP is all about the

client! It is not about me,

you, the company or the profession.

Help your customer or client increase power, status, or wealth!

Bonus for Business! Gift Cards when signing Listing Agreement Fruit Basket at move in Make a Donation in their name to a charity

Anything, big or small, can create a compelling reason for a client to choose you!

Examples Domino’s Pizza: "You get fresh, hot pizza

delivered to your door in 30 minutes or less -- or it's free."

Fed Ex: "When your package absolutely, positively has to get there overnight"

Nyquil: "The nighttime, coughing, achy, sniffling, stuffy head, fever, so you can rest medicine."

Now What? Once you've identified your USP

convert it into a brief statement integrate that statement into everything you do Make it the central theme in all of your advertising

Include it on your Letterhead business cards Website Invoices checks to

Reinforce the benefit of doing business with you in the minds of your existing clients