Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™. Today is Smart Monday and we’re going to talk about something that has been around since 1960 when it was first introduced, and that’s USP or Unique Selling Proposition.
Jack Trout is one of the foremost marketing experts in the world and he authored a book called “Differentiate or Die.” In it, Trout says there are two types of companies. One that feels they are better than the competition and another that feels they are the same as the competition.
He goes on to say that neither one understands that you have to be different and he harkens back to a principle that was developed by Rosser Reeves back in 1960 called the Unique Selling Proposition or USP.
According to Reeves there are three components to the USP. First you must make a proposition to your customers that when they buy your product they will get a specific benefit.
Second, that your product is truly unique and your competition does not offer the same product or service.
And third, that the proposition must be strong enough to motivate your customers to buy your product. Just because you can offer it doesn’t mean they will necessarily want to buy it.
Why is understanding USP so imperative to the success of your marketing and ultimately the success of your organization? First, competition is global, not just in your neighborhood any longer. Second, your potential customers are bombarded by advertisements every single day. In fact the last statistic I heard is they are hit by 5,000 ads per day.
If you can determine your USP you are going to have a distinct advantage over your competition. And, as Jack Trout said: Differentiate or die.
That concludes Smart Monday. Join us tomorrow for Strategic Tuesday. To discuss an online or onsite service engagement and enhance the marketing and branding for your organization, contact James Glover: (505) 501-1330 or firstname.lastname@example.org. I’m Jim Glover, That Branding Guy, for Once a Day Marketing™ and we’ll see you next time.
© 2012 Once a Day Marketing™. All rights reserved.