What is a USP?
It stands for Unique Selling Proposition. In short a USP is what differentiates you from the competition.
How to use a USP
In the real estate industry you will see numerous ads by real estate agents t advertises themselves and that they are the “Top agent”, that they are “honest and professional”, that they are “the best”, that they “know their area the best” to mention a few. You will agree that they all these offers are the same so there is nothing that make any one stand out in the eyes of the customer.
Remember the question the customer always have in mind is “Why must I do business with you, instead of anybody else out there?” In other word what value do you offer to the customer that nobody else offer.
So to stand out from everybody else, just offer the customer something of value that nobody else offers.
Think of what your customer want. In real estate the customer WANT to buy or sell a home, they do NOT work with an agent so it does not make sense for an agent to try and sell him to the customer. Again, sell the VALUE that you add to customers so you stand out in your market.
Just think of how Domino’s pizza was established. While there were many pizza shops out there Domino’s offered a delivery within a short period of time or else the customer get his pizza for free. They offered something that nobody else offered and they took over a huge portion of the market doing so.
In real estate my team uses several USP’s for buyers and sellers. We provide written Guarantee to our customers that we will perform in a certain way, and if we don’t fulfill our guarantee the customer do not have to pay us any commission. Or we guarantee to sell their home in a certain amount of time or we’ll guarantee to buy their house ourselves.
This makes us stand out in our market place because NOBODY else offer this.
How to develop your USP
Ask both your own as well as the customers of you competitors what it is that they really WANT. Ask them what it is that they really enjoyed during their experience and what they really hated. Ask them what they wanted you to do differently. If you talk with enough customers you will quickly see a pattern and them you can build a USP to address this.
NEVER think that you know what your customers want, always ASK them as you may be surprised at the result.
To again use the example of Domino’s. They do not claim to make the best pizza or the biggest pizza, they always claim to have it delivered FAST and Hot or it’s FREE. They provide a benefit to the customer (fast pizza delivered hot) and they carry the risk that if they don’t deliver it’s Free.
In conclusion, any business without a unique USP to make them stand out will loose a lot of business due to the customers not perceiving them as different from any other similar business. in other words what are the benefits of the clients doing business with you – what makes you special?
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