Did you know that on Coca-Cola's balance sheet more than 90% of their value is represented by their "brand equity"? If building a unique brand is good enough for them, don't you think it could do some good for you?
How do you differentiate yourself? With the explosion of service businesses it should be your top concern - to set yourself apart from the pack. The trick is to be one in a million, not one of the million.
In marketing jargon it's called a Unique Selling Proposition (USP). I call it a HUB - Hot Undeniable Benefit of doing business with you. Your HUB sets you apart from the crowd. It tells your clients why you are special. And it answers their biggest question: "Why should I do business with you instead of anyone else?"
Try this little exercise. Take a look at your promotional materials. Do they say things like:
- best service,
- in business since 1291 B.C.
- newest technology,
- best trained,
- fastest delivery,
- friendly smiles,
- we do it right the first time,
- professional service
- and so on.
You get the point, right? These are useless platitudes that don't communicate your uniqueness. Even worse - all of your competitors say it too!
So how do you go about discovering your HUB? If you work in a competitive industry it may be virtually impossible to set yourself apart based on what you do. But you can always find something unique about how you do it. Do you cater to a specific group of people? Are you expert in addressing a specific issue? Do you guarantee your work?
Finally, there is one thing in your business that no one else can duplicate - YOU! So don't be afraid to give your business or practice a little personality.
Here is a winning tip: look for unresolved problems in your industry and become an expert in providing a solution. That is exactly what a small parcel delivery company called FEDEX did. Do you know their HUB? It is: "When you absolutely, positively need it overnight - guaranteed." Funny thing is they are no longer the only company doing it, but they offered it first.
Discover your HUB, state it in all your marketing messages, and see your business turn into a client magnet!
