Talk Business Magazine - May 2021

Page 9

TALK O PERATIO NS

YOU NEED

A DIFFERENTIATOR

IF YOU WANT YOUR

TO GROW Not having a differentiator or Unique Selling Proposition (USP) is all too common for many businesses. Or at least these companies are not communicating their differentiator, which is effectively as big an issue. A USP is the one thing that differentiates you or your business from your competitors, and can make the difference between having an outstanding business or a faltering one. If your potential customers perceive you to be the same as your competitors, why would they choose you? In fact, if you’re viewed as the same, you can imagine which selection criteria becomes most important…price. It’s no good for any business to be in a price war! So, it astonishes me when companies don’t

promote their differentiator – particularly as outstanding businesses have been founded on a USP alone. Let’s look at Domino’s Pizza for example their USP is "Red hot pizza delivered to your door in 30 minutes or less - guaranteed." The founder, Tom Monaghan, created one of the most successful fast-food businesses in the world from the strength of this USP. He started from truly understanding his target market and what they wanted. Notice he doesn't say “the best tasting pizza”. Domino's pizzas are good, but not the best you can get. Instead, he focuses on what his target/niche market really want - his customers (primarily students living within a 20-minute radius of each pizza outlet, who


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