17. Unique Perceived Benefits
This is about ‘What Makes You Special’.
Unique Perceived Benefit (UPB) is a simple statement which differentiates your business from your competitors’ in the minds of your customers/clients and prospects.
It’s what really makes a business ‘stand out from the crowd’.
UPB is what makes the DIFFERENCE between a very successful business and one that never reaches its full potential!
Your UPB can often be found in your business – you just need to identify it and articulate it in a way which makes you stand out.
I can’t stress enough how important this is to the growth of your business. How can you expect your prospects or customers to choose you, over and above any of your competitors, if they can’t quickly see what it is you do which is so unique and so beneficial to them?
Outstanding businesses have been founded on a UPB alone. For example, here’s a very well-known UPB…
“Red hot pizza delivered to your door in 30 minutes or less – guaranteed.”
Tom Monahan of Domino’s Pizza created one of the most successful fast-food franchises in the world based on the strength of this UPB.
Notice he doesn’t say “the best-tasting pizza”. Domino’s pizzas are good, but not the best you can get – what he focuses on is what HIS customers (target market) really want.
And his customers (primarily students living in a 20-minute radius of each Pizza outlet) often buy on impulse so they want food delivered quickly and food that is hot! Sure, they want the pizza to taste good, but they are prepared to ‘suffer’ a little on quality for hot pizza delivered quickly!
Tom Monahan couldn’t have crafted this powerful UPB if he didn’t know who his target market was. That’s why we have taken the time to identify the target market(s) for your business in the last session.
Also notice that UPB is NOT about what you do.
It’s about what you can do for your customers.
Sell the RESULT, not yourself.
It’s about what you can do for the customers. Find out what the customers want and then give it to them in a simple and easy-to-understand statement.
If you are viewed by the customers and prospects as the same as the competition, what do you think becomes the important criterion when customers want your product or service? It can only be price.
So as soon as you create the UPB for the business, you automatically take the business out of the ‘price war’ and into the arena of higher prices/fees – and less competition! Or worst case the same price but the ability to win much more custom.
That’s the power of UPB.
- What do your customers really want
- How do you know
- What evidence supports this
- How are customers different – do some want different things
- What broad categories can you put them in
Each module starts with two relatively open questions which You Must Answer!
You then hit Save.
You will be emailed the rest of the module, which is in a Word compatible format .rtf and a link to a Google Doc, which will allow you to edit online.
This document contains the rest of the module, to include everything we know about the subject, links, examples, and of course further key questions for you to answer as well.
Being your document on your PC or in the cloud, you can save at any stage and go back to at any time too. In fact, this is probably the best way to tackle this work.
So let’s start this module by answering these key questions:
This document contains the rest of the module, including everything we know about the subject, links, examples, and of course further key questions for you to answer as well.