Differentiate or Die!
So you have started a business and you believe you’re selling a pretty hot product. While that very well may be true, the unfortunate truth is that, even with a great product, your business could still fail. Why? Because of poor marketing.
Think about it – no matter what product or service you may be offering, chances are that there are at least ten other companies in your immediate area who are offering the exact same thing to the exact same customers. For that reason alone, your offer may well be just lost in the crowd, making you just another “me-too” business.
But you can change their perception. Easily.
If you really want to stand out, your company needs to take your marketing game up a level and focus on creating an irresistible UPB i.e. a “unique perceived benefit” in the eyes of the customer – that only your company can offer. It is important to note that you don’t need an actual unique offer – it just has to be perceived that way by your target customer. After all, it is highly unlikely that the customer will compare every single product in the market in order to reach a decision. So, as long as your offer is perceived to be the best option – and that could be the product, positioning, marketing, service, pricing, etc. - the customer will choose you every time.
An example of great a unique perceived benefit is:
FedEx: “When your package absolutely, positively has to get there overnight”
(FedEx understands that their customers are not interested in the “snail mail” option – any other letter and package carrier can do that. FedEx users want and need their mail to a destination NOW, and so their UPB is catering to those specific people or their “target market”).
One thing that you need to avoid when coming up with your UPB is telling your customers about what you do – they already understand that and will simply shrug and say, “So what?” What you want to tell them is what you can do for them. It’s all about finding out what your customers really want, and then telling them how you will deliver in a quick and concise statement. The strongest UBPs always solve a customer’s problem.
Here’s another important reason behind creating a UPB: you will be able to take back the control of your pricing. If you are perceived as offering the same products and services as your competitors, then all that customers have to make a determination on which company to use is how much each company charges. Offering a UPB will take you straight out of that price war and put you on a higher pedestal – one that also allows you to charge higher prices or fees for your product or service, and be in a place where there is a whole lot less competition.
Analyse the competition. See what you’ve got and what they don’t. And once you’ve got it, flaunt it in every way possible.