Branding : Differentiate or Die
Few years back I have come across very interesting book “Differentiate or Die: Survival in Our Era of Killer Competition By Jack Trout, Steve Rivkin”. The title itself explains the meaning of the Market Competition. Yes, If you want to survive in the market you must have to present yourself differently by various mean otherwise no one look at you even once. I found many interesting examples in book in real scenario prevailing in the market. Then onwards my view to see the competition, market, Product and everything is changed.
Then I observe that every small or big organization differentiating but they are not getting what they are expecting. Why?.
The reason is : They are differentiating but they are not presenting properly or accurately, There are different way to differentiate your company by Quality, Price, Market Specialty, Leadership, Being first in the market and other Unique selling position.
How to Find Your Point of Difference–Your Unique Selling Position (USP)
So what makes you different? What is your unique selling position (USP)? Probably you can think of several aspects of your product or service that may be candidates for your USP, but don’t be too hasty. Before you go running off waving your new USP, let’s test it and see if it really works. When you think of your USP can you use the words “only” or “no other” with your USP?
For example, let’s say you’re a financial institution and your town has a large population of workers who have odd hour shift schedules. What if your bank had a branch open for business until midnight. You could say, “Only at ABC Bank can you do business when it’s convenient for you–even if that’s 11:30 at night!”
Would that qualify as a USP?
But what if you said, “Come to ABC Bank where you can have free checking.” Is that a USP? Nope. Just about every bank has free checking these days. Sure it’s important for prospects to know that you have free checking, but it shouldn’t be the cornerstone of your marketing campaign. It doesn’t make you different or unique.
Not Every Difference is Differentiation
Finding the right point of differentiation or USP is not always easy. Just because something is important to you, doesn’t mean that it’s important to your customers. Again, if you’re a bank and your boss is crazy for Italian marble you could say, “Come to ABC Bank, the only bank where the floors are Italian marble.”
Is that a point of differentiation? Sure. Does it qualify as a USP? No. Why? Because it doesn’t matter one bit to your customers. They won’t care what the floors are made of. Other issues are much higher on their priority list. Not all points of differentiation will be usable in your advertising message.
Having a Good USP is Your Ticket to Success
Here’s the bottom line: Take some time. Do some critical thinking. Talk to your customers. Talk to your prospects. Find that thing which makes you different–and better–than your competitors. Then build your marketing strategy around that difference. You’ll be surprised what will happen when you stop sounding like everyone else and give your customers a compelling reason to do business with you.