Today, no company, even the mighty Apple, have a USP for very long, if at all. In this Vlog, Grant explains why it no longer matters.
Let me tell you how to get to a USP in one, easy step.
You haven’t gone one.
The USP was created in 1950s America as a technique specifically designed to help TV advertising.
You see, today, if you’re selling services, there’s nothing you can come up with that can’t be copied by a competitor because, by definition, a service is intangible. So, of course, you can come up with a new idea, but if it’s a good one, sure as eggs is eggs, your competitor will copy it immediately. Even if you’re in products, the speed at which the market operates means you’re unlikely to have a USP for very long.
For example, Apple created the iPad in April 2010. It was a proprietary piece of technology, yet 24 weeks later, Samsung had the Galaxy Tab in the shops.
Not having a USP doesn’t mean you can’t be different. They’re not the same thing. A unique selling proposition always relates to what you do, but today, that is not how you differentiate. You don’t differentiate by what you do, you differentiate by who you do it for, and then how you do it.
Let’s take an accountant.
Accountancy is regulation based and compliance based, and by what they do, a lot of the work will be the same as any other accountant. For example, if you’re an accountant who decided to work with an audience exclusively of entrepreneurs, then how you would create this service would be different. You might be highly networked and, therefore, pride yourself in introducing entrepreneurs to one another who can help each other.
You might have access to great venture capital, so you can get people funding, and you might make sure you’re an expert in growth in start-up businesses, so you can give good advice. As an accountant, what you would be doing would be the same as many other accountants. However, how you are doing it would be completely different, add a lot of value to entrepreneurs, and make you stand out.
So, if you really want to differentiate, have a clinical understanding of who your audience is and create a how that is really special for them.
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