Failure To Let Your Prospects And Customers Know The Unique Benefits They Get From Doing Business With You And Not Your Competitors.

 

You need a Unique Competitive Advantage, or UCA (or USP). It’s the thing, the reason, the advantage that will make it not only worthwhile but beneficial and advantageous… even desirable for others to do business with you.

 

Here’s a simple exercise you can do to come up with your UCA:

 

1. Make a list. Get a piece of paper and write down every advantage you can think of why someone should do business with you. Make a big list of customer satisfaction. Don’t worry about whether or not your competitors offer the same advantages at this stage. Just get the points down on paper. Think in terms of how your business might fit in the following categories:

A. The name of your business.Does it say what you do, and position you in such a way that there can be no mistake? Can there be any doubt what kind of business “Modern Man’s Hair Style” is.  Can you use your business name as an advantage?

B. Exclusive niche or target market.Are you trying to be all things to all people? Or do you occupy and dominate (or have the potential to dominate) a certain market? The tighter a group you can cater to the more control you’ll have and the more opportunity you can have to dominate and control it.

C. Expertise.Do you have some type of specialised understanding of a particular market so you can become a recognised expert? If you do, people will look to you for help and expertise they can’t get elsewhere and you’ll have a big advantage.

D. Guarantee.A customer guarantee can be used as a massive unique competitive advantage. Think of the big stores that offer guarantees. It works for them to get customer satisfaction and it will work for you too!

E. Market positioning. How are you seen in your market? How do you stack up against the competition? What’s your market’s perception of you versus other competing businesses? Domino’s didn’t go head to head with other pizza shops trying to make a better pizza – they went after quick, in-home delivery and completely dominated the market.

F. Price. How do your prices compare to your competitors? Do you have the lowest prices for your products, and operate as a “discount” operation? Or, do you take a higher price-point position and operate at a more “exclusive” level? Either can be an advantage depending on how you position your business and the products and services you sell around it.

 

These are just a few of the areas you may want to consider as your unique competitive advantage. There are many more, but this will get your thinking started.

 

Take the time to develop your own unique competitive advantage and the results will be more leads, more prospects, more customer satisfaction, more sales and more revenue, and you will grow your business quickly.