Monday, October 29, 2012

Unique Selling Propositions: Does your retail store have one?

If you haven’t heard of guerrilla marketing, you’re missing out on some awesome opportunities. The father of Guerrilla Marketing, Jay Conrad Levinson, has an excellent site and daily marketing tips that could really create some buzz around your retail store. This weekend Jay’s marketing tip was about unique selling proposition, or USP, founded by the advertising legend Rosser Reeves in 1961.

Here is Levinson’s take on USP's in order to grab the attention of customers, and keep it.

"A USP is a unique selling proposition. Your USP is your proprietary competitive edge stated in clear, concise terms. Every business must have one to succeed. But most businesses don't. Not surprisingly, most businesses fail. Your USP needs three traits to be effective:

1. It should make a specific promise to customers. Example: "Buy this product and you will get this clear benefit."

2. It should be one your competitors cannot or will not match. It must be unique. Your customers should not be able to get the benefit anywhere else.

3. It should be so strong that it can create a crowd of eager buyers. Ideally, only a lunatic would refuse to buy from you.

Reeves goes on to say that 80% of all ads do not have a USP. If you look through your local paper or Yellow Pages, I think you'll find this percentage may be even higher. Keep your ideal prospect in mind when creating your USP. There's a big difference between affluent customers and bargain hunters who look only at price. Which group do you want buying from you?"

The USP technique might be just what your retail store could use. Brainstorm some ideas, and implement the one that will generate the most hype and increase sales.  More detailed information about the USP technique can be found in this article by Levinson.

To learn more about Jay Conrad Levinson check out his Guerrilla Marketing website here.

Does your store have a tagline or a unique selling proposition worth sharing? If you do, we want to hear it. Please leave it in our comment sections below!

- Emily

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