Ep 57: Standing Out From Your Competition With Your Unique Selling Proposition
October 02, 2018 - 01:04:47
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 her store is the store that dresses moms. And as a result, Megan has grown Evereve into a multimillion-dollar business!
In this episode, Megan and I talk about:
- How she came to the idea of claiming her unique position in her market
- How you can find an angle for your business and use it to your advantage
- How you can pursue the dream of being a good, Christian mom and a working woman
- How you can break free from the labels and limitations women put on themselves
Megan addresses the tension so many of us feel between being present for our kids but also pursuing a business dream. I love her perspective on this:
“One of the best gifts I could give my children was not being a mom who’s lying on the couch at night watching other peoples’ dreams come true but being a mom who was alive and passionate and happy.”
Answering Your Business Questions Like, “How Much Should I Pay Myself?”
Y’all know one of my favorite parts of this podcast is hearing directly from you. So this week, I’m answering your business questions about money and social media.
Don’t forget to give me a call on my new toll-free line at 844.944.1074. You might hear your question on a future episode!
Starting Your Day with Gratitude
I also challenge you to start every day with gratitude and to focus on your blessings. Your thoughts will direct your actions, and your actions will direct your results. Whatever you focus on increases, so focus on the positive—and expect the best for your life and your business.
1:21 How to Stand Out from Your Competition
22:00 Pursuing Your Dream and Building Your Brand with Megan Tamte
58:36 Challenge: Start Every Day with Gratitude
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