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Wednesday, July 10, 2013

The 5 W’s to Outshining your Competition: (Part1)

What do we do best? 
Set aside some time to write a one- or two-paragraph description of what sets you and your company apart from the competition. What does your business do better than your competitor(s)? If you need to write more than one-to-two paragraphs down, do so. After your writing exercise, begin to erase or edit the general statements or anything that seems a mimic to your competition or maybe what you've already seen advertised. You should be left with a clean but specific statement. This statement is called a Unique Selling Proposition. This statement is what you’ll add to your business brand toolbox and it will become what your client and prospects immediately understand about how your products and services will help them. One thing, be sure this USP statement is something you can really stand by and deliver to your customers. It is like a promise you make. If you can’t keep a promise, your customers will think you are not trustworthy. 

When you are trying to sell to everyone it’s hard to specialize your products and services

Who is our target customer? 

After you get an idea on your USP statement, use it to fine tune who you are marketing too. As the saying goes, “you can’t please everyone”, use your statement to define your target audience. Here’s a great worksheet from Profit Fusion that you can print out to help you compose your target audience.

A target customer is someone who is most likely going to buy from you. When you ask questions like: are your target customers male or female, what is their age, where do they live (geographically), what do they do for a living (profession), how much money do they make, or what are their shopping habits are, you can focus in on what customer you really want and need. When you are trying to sell to everyone it’s hard to specialize your products and services. Try to visualize your customers using your products and services to get a better feel for what they may need in addition to them or what you may need to add to make your products and services more efficient.

For a more in-depth look at the Unique Selling Proposition statement, the people over at Think Traffic did an excellent job at breaking USP down and making it plain.

Onward and Upward!

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