How To Stand Out From The Competition
0:11 – 0:20 Before you build or create anything, you must…
0:20 – 0:27 Your USP (unique selling proposition) is NOT…
0:28 – 1:01 The USP should grab attention and differentiate you from competitors
1:02 – 2:05 Zappos case study of EXCELLENT USP
2:06 – 2:59 The John Carlton USP formula
Andrew Hiddleston here, reporting in for LeanMeanMarketing.
Today, we’re going to talk about how to stand out from competitors.
Before you start building websites or making products or services and get too far ahead of yourself, you want to make sure you have a solid USP or Unique Selling Proposition.
Before we get to what it is, let’s talk about what it’s not. It’s not a motto or a catchphrase or your business model.
Your USP should grab the attention of your most desired and targeted ideal prospects. It should also hint at and indicate the end result that they would like to achieve. But more important than those two things, your USP is the specific reason that your prospect picks you and not the competitor.
It’s the reason why I’ll go buy from you and not your biggest competitor. It’s also the reason that I’ll come back and buy from you again or tell my friends and family about you and to go buy from you as well. It’s that core reason that keeps people coming back.
One of the best examples of a USP that I can think of is Zappos. When Zappos.com first came on to the scene, they were essentially told that they would never succeed because you can’t sell shoes online to their target market, which was women, because women like to be in the store, to see the shoes and that helps to facilitate the sale.
To overcome that, Tony Hsieh and his team developed an unbelievable USP which is their unheard of return policy which lasts for a year. And I believe it’s even longer than that. But essentially they have eliminated all the risks of people thinking “I’m going to buy something, I’m going to get it, and then I’m not going to like it.” Not only that but when you purchase something from Zappos, you think it’s going to be shipped out via regular mail because that’s what it says on their check out, but actually they courier it to you and essentially overnight it.
The Zappos USP is an incredible example of what can separate you from absolutely everybody else. And that’s the reason that people go back to buy multiple times from Zappos; turning Zappos into a multi-billion dollar operation in such a short time.
A great formula you can use to come up with your own USP was released by John Carlton. And this is his essential model,
“I/We help [group of people] do [benefit ] [better than]anybody else.”
And you’ll see on the screen right now (“I/We help [group of people] do [benefit ] [better than][competitor or common wisdom]”), you essentially use this model and fill in the blanks where the square borders are. You would fill in your own answers and you would create your own USP. This is a great starting point if you don’t have anything or you’re not sure how you’re supposed to create it.
Remember, your USP will be the core of your business and the core of your company. Everything you do from creating products and services to the actual business moves that you make will be driven by your USP so it’s essential that you not only have one but you have a very good one.
So again, this is Andrew Hiddleston from LeanMeanMarketing.com. I hope you found this video useful and I’ll talk to you real soon.