Oct 2, 2018
One of my favorite things about business is marketing, and I'm so excited because this week we're diving into a marketing concept known as the unique selling proposition. What is a Unique Selling Proposition? It is one feature or benefit you want to highlight about your product or service. This concept dates back to the 1940s and was used to get people to switch from one brand to another. For examples of this, just Google "1940s soap advertisements," and you'll see some brands touting "lovelier skin" and others promising to "stop BO!" Don't most soaps do both? Yes, but each brand chose to highlight a different feature of its soap. I've taught y'all about this before in many places, including my Business Boutique book, where I call it your unique position. It's the angle you want to take in all of your marketing that lets your customers know why they need to buy from you. In Reality in Advertising, author Rosser Reeves explains the purpose of your unique selling proposition so well. He says, "Each advertisement must say to each reader: 'Buy this product, for this specific benefit.'" He also says, "The proposition must be strong enough to move the masses." Related: Ep. 52-Market Research: How to Know What Your Customers Want So focus on just one feature or benefit of your product-something you want to be known for that is strong enough to move the masses-and highlight that in all your marketing, even if that thing seems obvious. In fact, in this episode, I'll tell you how my college professor taught our class how to sell a toaster by highlighting a feature as basic as its electric cord. But here's another example. FedEx has an advertising campaign right now that grabs my attention every time I see the commercial. In the ad, you see a woman standing in her art studio waiting on a delivery. In another scene, a package is hand-delivered to an elderly man sitting in a nursing home cafeteria. Then there's a little boy peering with wonder at a FedEx box in his living room. A voice-over asks, "What's inside?" Then you see the artist, the senior and the little boy light up as they open their boxes-and the answer comes: "Possibilities." Here FedEx reminds us that receiving a package in the mail is exciting! And if they've done their job right, maybe they've even convinced you that when you send or receive a parcel via FedEx, anything is possible. Doesn't UPS offer a very similar service? Yep. If you use UPS for your shipping and handling, can you send and receive the same things and have it done in the same amount of time? Probably. But FedEx hooked me with their commercial because they chose to highlight the excitement that comes with anticipating a package. What result can you highlight about your business that will make your potential customers feel something? In this episode, I'll challenge you to answer these questions about your business: What makes your product unique? What makes your services unique? Why should someone buy from you instead of your competition? If you don't know the answers to these questions, you're missing out on sales. You're missing sales because if you don't answer these questions in your marketing, your customers sure won't know the answers, either! Claiming Your Unique Value Proposition Now, your unique selling proposition doesn't have to be something unique to only you-in fact, it probably won't be. My guest this week understands that and has marketed her business brilliantly. Megan Tamte is the co-founder and co-CEO of Evereve, a retail fashion and styling company and one of my favorite stores. Evereve's tagline is "Dress like a mom." Just think about that for a minute. How many stores and boutiques and online clothing companies sell clothes for women? How many sell for moms, specifically? There are probably thousands or even millions, right? But Megan chose to claim it. Her marketing lets people know that...