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Find your USP
It sounds obvious: you must
have an advantage over your competition, otherwise you just wouldn't bother.
But spell it out: make sure your special pluses appear in all marketing
materials, including web sites, business cards and email signatures. And
make sure everyone on your staff understands the USP and uses it themselves
when speaking to the punters.
And what is a Unique Selling Proposition? The term was
created in the 1950s and originally referred to advertising - specifically,
to the principle that the advertising proposition should promise a specified
benefit which isn't available from competitors. The proposition should
be so compelling that it drives individuals to act.
From those beginnings, the USP idea has been extended
usefully into other areas of business. It's still a core marketing concept,
though.
So how do you find your own USP? First you need answers
to three questions:
What benefit is unique to what you offer? Remember,
a benefit is a solution to a problem. If you can't find a completely unique
benefit, go for one that your competitors may share but don't promote.
Who is the target market that is most interested in
this benefit? Your main target market will be whoever you want to buy
your product or service, but it should probably be a broader group - people
who might influence a sale aren't necessarily those who write the cheque
or open the wallet.
What USP is already used by major competitors for this
target market? When creating your own USP, consider your competitors'
weaknesses and your strengths.
Here are the typical elements around which a USP can be created:
- quality
- service / customer care
- style
- price / value
- selection / range
- location
The three-letter follow-up
It's patently obvious that marketing isn't an end in itself - your time,
money and effort is wasted if you don't follow-up on your leads. Doing
that can represent a lot of extra hassle, though, especially if your first
follow-up doesn't produce the sale.
It's worth persevering, and you can generally increase
sales if you use a system of multiple follow-ups. The best option is to
use up to three letters or emails - any more than three and you'll be
boring the pants off the recipient: any less and you might miss out.
- Contact 1 is short, a brief presentation of your offer with a reminder
that you're responding to their contact rather than cold-calling. You
might include an incentive, like a time-limited offer for quick response.
This letter should be designed to get attention generally, but more
specifically to grab those prospects who can make up their minds quickly
to buy.
- Contact 2 should arrive 48 hours later. It's longer and more detailed,
because many purchasers need all the facts before they will commit.
So major on your USPs, list features and relate them to benefits. Mention
the incentive but don't stress it too heavily: after all, these people
passed on the opportunity the first time around, so they probably aren't
influenced so heavily by the offer.
- Contact 3 should arrive about a week later. The opening line acknowledges
that the recipient is probably busy and hasn't hadn't time to consider
your previous message. Then repeat the proposition, but find a new form
of words and ideally a new angle - you don't want them to feel too much
of a sense of déjà vu.
Still no sale? Well, at least you have an entry for your prospect database.
Add them to the circulation for your monthly newsletter and the invite
list to your next exhibition appearance. Sooner or later you'll catch
'em …
Make the most of direct mail
There's an art to writing
effective direct mail material, especially DM letters. Here are some of
the tricks of the trade:
- Time-limited offers, particularly those that
give a specific date, are almost invariably more successful than those
with no time limit.
- Free gift offers consistently outpull discount
offers, particularly where the gift appeals to self-interest.
- Sweepstakes and prize draws are particularly
effective, and not just for consumer sales.
- Free printed information makes a good and inexpensive
offer for business mailings - but presentation is all: the document
must be closely related to your business and to the recipient's, and
above all it must be perceived as valuable.
- Offer a complete and easy-to-claim guarantee.
It's a confidence booster. The extra sales will almost invariably exceed
any refunds you have to give.
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