What Makes You Different? Hone Your Unique Selling Proposition (USP) or Perish

My office sells mortgages. It's not very exciting, and there are a ton of other loan officers around the country who we have to compete with. So, what do we do to be successful?

Success comes from marketing your product and service much better than your competition. Set yourself apart through your Unique Selling Proposition (USP). In our case, it's not just about selling mortgages - instead, provide a specialized loan product within the mortgage industry to insure that you can provide a service that none of your competitors can provide.

Be unique. In the mortgage industry, most of the competition will try to survive by selling low interest rates and fees. Good luck to them. Unfortunately for them, though, they don't stand out among the crowds of other loan officers who are offering the same exact thing.

Specifically, in the example of a mortgage office, you could provide a niche product such as an owner builder construction loan. Owner builders are individuals who want to build a home without a licensed general contractor. As you can imagine, this specialty product sets you apart from the standard mortgage. Simply providing construction loans is a niche within the mortgage industry. But, owner builder construction loans are an even better niche. Eliminate 99.999% of your competition by working within a very specific niche.

Then, within that specific niche, set up your USP by offering services that none of your competitors will offer. Be unique in your overall industry. And, be unique even within your niche.

But, it doesn't matter if you are selling owner builder construction loans or if you are selling pizza. You need a strong USP to help you stand out.

Two years ago, we hosted a room full of loan officers at a mortgage marketing boot camp. During that weekend I got to talk to a lot of interesting people and hear a lot about their businesses.

Something I like to do when I'm at an event like this is conduct my own "undercover market research" - which means I ask a lot of people the same question to see what the most common answers are.

One question I asked often was, "What makes YOU different from your competition?"

Or, using proper marketing mumbo jumbo, "What's your Unique Selling Proposition?"

Here were the most common answers I got:

1. "I am new to the business so I haven't got one [a USP] yet."

How can you start in any business and not have a USP? Seriously, before you even start developing or selling a product line, or building your website, or writing a single advertisement, you must be able to clearly articulate what the heck makes you different from your competition!

Having the owner builder construction loan niche is essential to my office's long term success. Having a niche in your industry will be just as essential to you.

Look around at who is doing well out there. I am willing to bet you they all have some kind of niche they work in.

2. "I have the lowest prices!" - or - "I have the best service!"

Let me blunt: neither of those USPs work.

After a number of people at the boot camp told me their USP was about price or quality, those very same people told me they wouldn't believe other loan officers who claimed those USPs! Do you think your prospects believe you?

The fact is you don't have the lowest rates or the best service. The fact is that anyone can under price you in two seconds flat if they are willing to work for nothing.

The fact is that the "best service" is a very subjective thing, and anyone can claim to have the best.

Trying to compete on rates alone immediately establishes your product or service as a commodity - something that is meant to be shopped. You'll quote your rate and the customer will immediately hang up in order to call the next guy in the phone book to get his lowest price. Then, if you are lucky, he will call you back and get you to cut some more.

Lowest rates or best service is not a USP.

If you want to be really successful, you need to stand out from the crowd by offering a USP that's truly different... something your competition just can't claim. Become the expert at a niche for your market.

Then, price shoppers go away. Rate cutting goes away. And what you are left with is a line of people seeking you out.

So, step one: get a niche.

Step two: get a real USP!

There are plenty of niches to choose from. Then, you must let the world know what makes you different from your competitors -- in ten words or less. Being an expert in a niche and having a strong USP gives your customers a powerful, compelling reason to do business with you.

That is exactly why you should want to be different!


About the Author

Chris Esposito provides owner-builder construction financing nationwide through his Owner Builder 101 program. Visit www.OwnerBuilder101.com to get all the information you need to be a successful owner-builder, saving tens of thousands on your next home. Or call Owner Builder 101 at (877) 876-3688.

Relaited Links:

• How Autoresponders Have Revolutionized Email Marketing
• Melting Autoresponders and Shopping Carts into One Effective Marketing Tool
• Benefit of Digital Media Products Online

Video - The Next Wave Of Small Business Marketing

One of the strongest trends for small business is the need to build connections with your clients -giving them an insight into who you are and what you do. You need to do that through words, stories or parables and testimonials. Written words can only go so far.

The trend I am seeing coming from the US in marketing is the addition of video to things like websites, promotional DVDs and blogs. Think of the explosion of You Tube. More people watch You Tube across the world each day than people watch TV.

The cutting edge of the trend is live self-broadcast TV streamed from your website. Think of it like your own ongoing TV program. One of the gurus in this is a guy who talks about wine - Gary Vaynerchuck. A guy who is passionate about wine talks about it in laypersons terms complete with plastic character toys. It is out there, loud, real and he out-rates many of the top US TV shows.

People want to see you, engage with you, look you in the eye and check you out as a person. They want to see if you really are sincere about your product or service. They don't want a highly polished TV presenter. They want to see and connect with the real person, warts and all. If you are too polished they click away as they can't connect with you.

With a website you only have a few seconds to grab someone's attention. With the addition of video their average length of stay on your site increases. Length of time someone stays increases the likelihood of them signing up for your newsletter, reading your words or buying your product. So, going by trends, the addition of video to your site or your blog is something worth considering.

If you are going to add in video (and we still call it video even though it is something else) to your website or your marketing mix, what should you do and how should you do it?

The technology

Let's start with some basics. The technology you use does not have to be complex or expensive.

It is possible to add video to your homepage for $12US. Use your web camera to record the film of what you want to say. Then use Microsoft Movie Maker (free with windows XP) to edit the film. One cool tool is Video Web Wizard to convert the film to a flash file and to put the little TV screen around the film. Finally add your flash file into your website.

The words

What you say on your video is important. You need to treat it just like any other piece of copywriting. Consider your audience and what they are interested in hearing about. You need to have a logical flow through your words and you need to have a strong call to action in conclusion.

You also need to keep it simple, and not too long. Use a copywriter to help you refine your words if you are not confident in what you are going to say to present your business in its best light.

Adding video to your home page should not replace your general words and text. Remember the search engines can't index a video so you still need your keyword rich text beneath your video to help search engines find you.

General stuff

While the people want to connect with you, you want to make sure the location you are filming in is attractive, not too distracting in the background and has sufficient light (you don't want to look like you are in a nightclub).

You also want your basic appearance to be neat and tidy. Remember to smile, to look down the lens of the camera (and not to the side or away as that can make you look shifty). Remember to blink - some people get the fixed in the headlights stare look and forget to blink.

Don't expect to get it right the first take.

Rehearse your words until you are confident with them, and then expect a few goes to get your video to the point you are happy with it.

Finally it is OK to change things around. The technology is now so simple you can change it as often as you are comfortable with doing it - daily if you like.

So dip your toes into the waters of video marketing. Like everything you need to test and measure your results to make sure it is working for you.


About the Author

Ingrid Cliff is a Freelance Copywriter with her Brisbane Copywriting Business (Heart Harmony). Ingrid writes a free weekly small business newsletter packed full of articles and tips and Small Business Ideas blog for small businesses. www.heartharmony.com.au

Relaited Links:

• The Keys to Developing Successful Marketing Strategies
• How to Drive Free Traffic to Your Website - Part One
• How to Drive Free Traffic to Your Website - Part One