Another great question… that sparked this blog post.
And it’s an important one.
This person asked a question about the possibility of starting a successful dropshipping business where there are so many people doing it.
Competition is Everywhere
There are 8,555 real estate agents here in Vegas, according to U.S. News.
There are 856 personal injury attorneys in Las Vegas, according to the Yellow Pages.
There is competition everywhere, in every market.
The 2 industries above, only have to compete with the Las Vegas market. Unfortunately, that is not the case in the online world. In the eCommerce world, you’re competing with every other online store (in your industry). You likely are competing with thousands of other store owners. And it can be very tough to differentiate yourself — until now.
That is why this ONE question is so damn important.
Most people running dropshipping stores cannot answer this question.
Most brick n mortar (offline businesses) cannot answer this question either.
Sadly, most businesses, in general, cannot answer this question.
And the question in…
Why Should I Buy From You Over Your Competitors?
This is the question every store owner should be able to answer immediately.
It should be on your website, all print material, social media channels, etc. Every person on your team should be able to say it backwards, and in their sleep.
Benefits of Creating a Powerful USP
There are many, many benefits of having a USP in place.
- A strong USP will drive sales and make communications with potential customers more effective.
- A good USP will help employees and friends of the company understand the value of your products or services.
- If your USP is truly unique, it will differentiate you from your competitors. Competing on differentiation instead of price is a stronger competitive position.
- Your USP can speed up sales and open doors because it is easy to understand.
Now you understand WHY you need one, lets get into the HOW to create one.
How to Position Your Business as the Industry Leader
When marketing online, it is easy to get distracted by the latest “fad”, “trick” or “the next big thing” to generate a flood of sales to your website. If you lack a strategic foundation, most of these new “fads” or “tricks” won’t last long.
Here is a marketing strategy that doesn’t cost you a penny to implement, but can have a massive influence on the way your website visitors view your online store. It has the power to INCREASE the effectiveness of all your other marketing efforts.
Defining and communicating a crystal clear Unique Selling Proposition (USP), can virtually eliminate your competition overnight.
Some marketers discuss the importance of having a USP, but they don’t mention the HOW to formulate an effective USP and use it to attract more customers.
Your USP gives people a reason to give their business to YOU and not your competitor.
How to Create a Compelling USP
Here are 3 effective strategies for uncovering your USP and successfully incorporating it in your eCommerce store.
Crystallize and communicate your unique strengths. You want to ask yourself the following 4 questions…
- What do you offer that your competitors don’t?
- How important is it to your target market?
- How easy is it for competitors to copy?
- Can it be communicated clearly?
You want your USP to pack a punch.
You want to be specific with your USP.
When you establish a clear USP, you can virtually leave your competition in the dust.
Yes, there are industries that are competitive, but if you follow the advice above, it will not matter.
Even if you’re in a less competitive industry, you still want to establish a clear USP to differentiate your online store,