Marketing (USP) – How your sales can increase over 200% in 3 years.
So, how can you increase your sales? The answer…Increase your marketing!
During the recession in 1981 – 1982 the companies that maintained and increased their marketing programs averaged 256% higher sales growth for the following 3 years compared to competition who did not market during the recession.
Example, do you remember Schlitz beer? During the Depression Schlitz decided to hunker down and whether the storm, cut back their marketing, stopped advertising and just make it through the down times. Miller Lite on the other hand decided that it would be a great idea to increase their marketing spend and go after new markets. Which strategy worked? Which is the more recognized beer; Miller Lite…where is Schlitz now??
The same story applies for Post and Kellogg’s. Post decided to follow the same path, stop advertising and marketing while Kellogg’s increased advertising and marketing. Kellogg’s remains one of the top manufacturers in the cereal industry.
The lesson from those stories? DO NOT STOP SPENDING MONEY ON MARKETING!!
There is a lot for you to examine and research when discussing marketing:
- Primary Markets
- Flanker Markets
- Psychographic Models
- Purchase Decision Chain
- Unique Selling Proposition
- Medium Channels
- Medium Message
Your marketing efforts should focus on the Unique Selling Proposition (USP).
What is a Unique Selling Proposition? The definition in Wikipedia tells us:
“A unique selling proposition (USP) refers to the unique benefit exhibited by a company, service, product or brand that enables it to stand out from competitors. The unique selling proposition must be a feature that highlights product benefits that are meaningful to consumers.”
To come up with a compelling USP you really need to understand your customer and what they expect.
It’s likely that many of your prospects have difficulty deciding which option in your industry is the one that earns their money, time and trust. The selection process can be a challenge for customers that don’t have the experience to know what separates one competitor from another.
That’s why your task is to help them by making your unique selling proposition very clear, special and unforgettable enough that they can clearly see what your business offers that the competition does not. The key word to remember is differentiation, be distinct in your message and offerings.
The following questions will help you discover or develop your competitive advantage or value proposition and a strong guarantee that removes the risk of doing business with you in the minds of your prospects. A good USP is much more than “we provide good service at a good price.”
You need to articulate what makes you truly unique when compared with your competitors and your guarantee needs to put the onus on you to do business in a way that gives your customers the confidence that their worst fears will not be realized when they do business with you.
Any strong USP must consider who your prospects are, how they think, what’s important to them when they buy, what exactly they need and want, etc.
Here are a few questions that are designed to get you thinking about your prospects.
- What scenarios or situations make your prospects first consider buying what you sell?
- What needs, frustrations, fears, or pain do your prospects experience that motivates them to buy?
- What do your prospects feel they need and expect because of their purchase?
BUT You must remember it’s all about Selling! The purpose of our marketing message is to increase sales.
- UNIQUE: It must be one the competition cannot or does not offer. It must be distinctive; either in the brand itself or in a claim the competition does not make.
- SELLING: Every ad must make a selling proposition to the potential customer. It cannot be just mere words. You must say to the reader every time: “Buy this product or service, for this particular benefit.”
- Proposition: The offer must be strong enough to grab attention and attract new customers.
Make sure your marketing message makes you stand out for the right reasons, and that you are positioning your business and brand in your market to increase sales, not just to be noticed.
Tags: Selling Tips