Business Plan - Define your unique selling Proposition
Why should any perspective customer buy your product or service rather than your competitions?
This is a question we could ask ourselves. However, I would propose that you should consider the customers view. In other words, you need for the customer to be thinking “why buy from anyone else”.
In this article, the fifth in the business planning series of 10, I will propose a process for articulating what makes your product or service unique, different or just plain better value for money and how you communicate this to your market place.
If we consider the customer experience of dealing with your business we need to think wider than just the product or service its self. How did the customer find out about you, how easy was it for them to contact you, what was their buying experience, what is their ownership experience and after sales service like?
OK, a lot to think about so let’s make a start at getting your unique selling proposition statement sorted. There are just 7 steps to consider: -
Research your competition
(see article “Know Your Competition”)
Knowing what your competition can and cannot do is one key ingredient for you to be able to articulate your uniqueness. In my previous article I discussed a process for doing just this.
It is not just about knowing who your competition is and what they do, it’s also important to understand their strengths and weaknesses as well as your own.
Write down what is different, special or unique about your product or service
This is not just about your product or service. You need to consider the whole process from initial contact to after sales service. How easy is it for the customer find out about you, how easy is it for them to contact you, what will their buying experience be, what will their ownership experience and after sales service be like?
Define these points in terms of advantages for the prospective customer
For each of the above points consider “what’s in it for the customer”. What is the advantage to the customer and will they value that?
Write a brief statement
In no more than 30 words write a brief statement that that explains what you do including the points you have now articulated above. This statement should focus on what you do and what is unique about your business, products of service.
Sanity Check
For each “claim” you make, make sure that you have processes in place so that you can actually deliver.
Get feedback
Get feedback from those critical friends (you know, those friends or business colleague that are only too willing to tell you which way is up!). What do they interpret from your statement, does it engage them, and does it get them to ask more questions about your business offer?
Refine the statement and then publish
Having received the feedback, modify your statement and, after verifying the revised statement, it is now ready to publish.
Remember, this statement must tell your prospective customer enough to get their interest in you and your business and for them to want to know more.
Of course, your short statement is not the full story of your unique selling proposition (USP). Your USP is the whole service you provide from making contact to the after sales service and experience in every detail. So, you need to be able to use your short statement to engage the customer, this is the headline.
A word of advice, avoid using vague statements like “flexible service”, “no job too small”, “unbeatable prices”, unless you can be specific. Vague statements can be off-putting and appear rather cliché to prospective customers.
Still To Come
There are just a few more articles that will be published over the next two weeks: -
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Establishing Your Sales Plan
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Establishing Your Marketing Plan
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Establishing Your Business Costs
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Defining Your Business Processes
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Plan-do-Check-Act - Keep The Plan Alive.
With these articles are free templates for you to download and use towards your final business plan.
Graham Cripps
Results Consortium Ltd