How to Immune Your Business from Competition

January 17, 2017
How to Immune Your Business from Competition

In ancient Sparta, the Greek Soldiers used powerful shields to protect themselves during the battle. While they were extremely skillful at attacking, they never ignored defense.

One of the fundamental mistakes in marketing is not caring enough about immunising our business from the competition.We rarely think about how we can first make our product or service unique. We never give enough thought to crafting a uniqueness.

However, when someone does it, big breakthroughs happen:

  • Giorgio's Italian restaurant re-positioned itself by offering a “Romantic Dinner Package”
  • Domino's pizza promised to deliver a pizza in 30 minutes or less.
  • Subway turned junk food into a weight-loss product

These are ordinary businesses turned into extraordinary successes,- thanks to the USP.

How are you positioned in your market?

Your Uniqueness or Unique Selling Proposition determines your positioning in your market. It is the lense through which your customers see you. When you have a great uniqueness baked into your business, you create a strong customer affinity and your business can become immune from the competition.

Creating USP isn’t easy and it takes time

That being said, creating a USP isn’t easy or magical. A vast majority of people confuse “tag line” with USP. Others who try to create a USP often end up making a tag line. The critical mistake in creating USP arises from the notion that we are “creative enough” to do it ourselves. That’s a myth. You can’t create USP by yourself.

So how do you go about creating a USP?

Go to your target market. That’s where your USP is buried. Get a deeper understanding about their interests, desires and problems. When it comes to learning deeper about the target market, nothing comes closer than having a real conversation.

Now there are many possible ways to identify your Uniqueness. Based on my experience, I’ve found a simple and effective way to craft a USP.

Here is the formula:

  • Speak to real person who belongs to your target market
  • Talk about the problems they face in your domain
  • Go back to your office and figure out ONE big problem can you solve
  • Attach your solution to the problem
  • Bring an element of big promise

That’s it. When you follow the above steps in order, you’ll have a powerful USP at your disposal.

Validate your USP

Once you craft the USP, show it to your customers and look at their reaction. Do they ask you a question with curiosity? Does it start a conversation? If yes, then you have nailed it. If it doesn’t arouse interest, go back and repeat the steps.

Is it difficult to find USP?

You are right - it is a pain in the butt, but only once. When you have a compelling USP, you have a tremendous advantage over your competition. You’ll have better pricing elasticity, you’ll be in better control of your sales pipeline and the job of selling gets infinitely easier.

The best part is - Your competitors won’t do it. And even if they try doing it, they’ll do it lousily in an effort to copy you.

So pick the phone and get that one customer on call. Who know’s - that one call might change it all.

Supported by Google Cloud