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Unique selling proposition

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Unique selling proposition

  1. 1. What is your USP? Sales Meeting November 10, 2010
  2. 2. Unique Selling Proposition <ul><li>1940s Marketing concept proposed as a theory to explain successful advertising campaigns </li></ul><ul><ul><li>Campaigns made unique propositions to customers and convinced them to switch brands </li></ul></ul><ul><ul><li>The term was invented by Rosser Reeves of Ted Bates & Company. </li></ul></ul><ul><li>Strategy of differentiating a product or service by concentrating on unique features that are not offered by competitors. </li></ul>
  3. 3. Put Yourself in Your Customers Shoes <ul><li>If you were the prospect being approached, what would it take to get your attention? </li></ul><ul><li>What can you add to your business that your competition doesn't offer? </li></ul><ul><li>Make that your USP! </li></ul>
  4. 4. Video <ul><li>Marketing Differentiation- How to Stand out with Marketing </li></ul>
  5. 5. Differentiation <ul><li>WHO you are </li></ul><ul><li>WHAT you do </li></ul><ul><li>WHY you are the best agent for the job at hand </li></ul><ul><li>WHAT makes you different? </li></ul><ul><li>WHY should someone do business with you? </li></ul><ul><li>WHO gave you the title of &quot;#1&quot;?  </li></ul>
  6. 6. Differentiation <ul><li>What are you famous for? </li></ul><ul><li>What is your appeal to sellers and buyers that is unique and distinct? </li></ul><ul><li>Refine the way in which you communicate so that your target market can understand in a nano-second how you are different from your competition </li></ul>
  7. 7. Ideas to Consider <ul><li>Uniqueness </li></ul><ul><li>Specifics </li></ul><ul><li>Relevance </li></ul><ul><li>Believability </li></ul><ul><li>Conciseness </li></ul><ul><li>Motives for Buying </li></ul><ul><ul><li>Desire for Gain </li></ul></ul><ul><ul><li>Fear of Loss </li></ul></ul><ul><ul><li>Comfort and Convenience </li></ul></ul><ul><ul><li>Security and Protection </li></ul></ul><ul><ul><li>Pride of Ownership </li></ul></ul><ul><ul><li>Satisfaction of Emotion </li></ul></ul><ul><ul><li>Satisfaction of Ego </li></ul></ul>
  8. 9. “Shop&quot; Your Competition <ul><li>Outside of research, everything is speculative </li></ul><ul><li>Develop a clear sense of who your competitors are </li></ul><ul><ul><li>There are a lot of agents to choose from </li></ul></ul><ul><ul><li>Sophisticated Consumers </li></ul></ul><ul><li>The goal should be to turn it around and get out in front of the competition </li></ul>
  9. 10. What a USP is all About <ul><li>Consider the needs and wants of your most probable clients </li></ul><ul><ul><li>Communicate how YOU and ONLY you can satisfy those needs and wants best </li></ul></ul><ul><li>Believe in yourself and your own abilities  </li></ul><ul><li>Confidently communicate the advantages of doing business with YOU! </li></ul>
  10. 11. Think About It <ul><li>What most real estate professionals do is ___________! </li></ul><ul><li>What I do is __________! </li></ul><ul><li>How this benefits YOU is _________________! </li></ul><ul><li>Consider what other clients say about you and what you think of yourself </li></ul><ul><ul><li>Boil it all down to a simple and easy to communicate message </li></ul></ul>
  11. 12. Strategic Differentiation <ul><li>1) Who is your target audience? (what are their challenges?) </li></ul><ul><li>2) What does your service do for that audience? (What do they get out of working with you?) </li></ul><ul><li>3) Take time to Listen to what your potential customers (and customers) are telling you. </li></ul>
  12. 13. Brainstorming <ul><li>Clear your mind of any preconceived ideas about your product or service </li></ul><ul><li>Be brutally honest… </li></ul><ul><ul><li>What features of your business jump out at you as something that sets you apart? </li></ul></ul><ul><ul><li>What can you promote that will make customers want to choose you? </li></ul></ul><ul><ul><li>How can you position yourself to highlight your USP? </li></ul></ul><ul><li>Not about having a unique product or service; it's about making your product stand out in a market filled with similar items. </li></ul>
  13. 14. Brainstorming <ul><li>What customer value have you created? </li></ul><ul><ul><li>Offer something radically new to the market </li></ul></ul><ul><ul><li>Fulfill needs customers were voicing </li></ul></ul><ul><li>List key features and unique benefits to customers </li></ul><ul><ul><li>Ask what they like best about your product, your services, or your company </li></ul></ul><ul><ul><li>Compare your offer to your competitors </li></ul></ul><ul><ul><li>Brainstorm with to generate ideas that give you the basis for writing a strong, specific and differentiated USP </li></ul></ul>
  14. 15. Focus on… <ul><li>Target Market: Stand out as an expert </li></ul><ul><li>Problems you want to solve </li></ul><ul><li>The result of measurable difference </li></ul><ul><li>A different approach </li></ul><ul><li>The one niche, need or gap that is most sorely lacking </li></ul><ul><li>Use a combination of these methods </li></ul><ul><li>Set yourself apart </li></ul>
  15. 16. Benefits <ul><li>Make a list of all the benefits you offer to your customers. </li></ul><ul><ul><li>Write down everything you can think of </li></ul></ul><ul><li>Is there one major benefit on the list your competition doesn't offer? </li></ul><ul><ul><li>If the answer is &quot;yes&quot;, that's your USP. </li></ul></ul><ul><ul><li>If the answer is &quot;no&quot;, you probably don't have one. </li></ul></ul><ul><li>If you don't have a USP: create one by adding something to your business you're not already doing. </li></ul>
  16. 17. USP: Types <ul><li>Product feature: may be based on product features associated with the product, ranging from what it does to the quality of your support services. </li></ul><ul><li>Emotion: may be based on an emotional appeal, such as love, humor, or fear. </li></ul><ul><li>Association: may be communicated by association with a well-known personality. </li></ul>
  17. 18. Clients Come First <ul><li>USP is all about the client! </li></ul><ul><li>It is not about me, you, the company or the profession. </li></ul><ul><li>Help your customer or client increase power, status, or wealth! </li></ul>
  18. 19. Bonus for Business! <ul><li>Gift Cards when signing Listing Agreement </li></ul><ul><li>Fruit Basket at move in </li></ul><ul><li>Make a Donation in their name to a charity </li></ul><ul><li>Anything, big or small, can create a compelling reason for a client to choose you! </li></ul>
  19. 20. Examples <ul><li>Domino’s Pizza: &quot;You get fresh, hot pizza delivered to your door in 30 minutes or less -- or it's free.&quot; </li></ul><ul><li>Fed Ex: &quot;When your package absolutely, positively has to get there overnight&quot; </li></ul><ul><li>Nyquil: &quot;The nighttime, coughing, achy, sniffling, stuffy head, fever, so you can rest medicine.&quot; </li></ul>
  20. 21. Now What? <ul><li>Once you've identified your USP </li></ul><ul><ul><li>convert it into a brief statement </li></ul></ul><ul><ul><li>integrate that statement into everything you do </li></ul></ul><ul><ul><li>Make it the central theme in all of your advertising </li></ul></ul><ul><ul><ul><li>Include it on your </li></ul></ul></ul><ul><ul><ul><li>Letterhead </li></ul></ul></ul><ul><ul><ul><li>business cards </li></ul></ul></ul><ul><ul><ul><li>Website </li></ul></ul></ul><ul><ul><ul><li>Invoices </li></ul></ul></ul><ul><ul><ul><li>checks to </li></ul></ul></ul><ul><li>Reinforce the benefit of doing business with you in the minds of your existing clients </li></ul>

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