Have you ever wondered how Starbucks gets people to stand in line and pay the highest prices for a commodity that has been around for thousands of years? The answer is found in a term called “Experiential Marketing”.
If you have studied marketing even the least little bit, you may have heard a term called a “USP” which stands for “Unique Selling Proposition”. Most small business owners and professionals fail miserably to communicate why they are unique and different.
One of the most valuable things you can do is develop a unique “60 Second Commercial” that communicates why a prospect should use your product or service above anyone else and why they should wait in line to pay you a higher price. And be sure to teach this message to your team as well.
A UEP™ takes it a step further into the world of Experiential Marketing. A “UEP”™ is a “Unique Experience Proposition™”. Experiential Marketing goes beyond functional features and benefits. People will pay a higher price for a unique experience. Starbucks worked hard to duplicate the experience of the Italian Espresso Bar, and it worked. And you can do the same in your company or practice, no matter what the service or product is.
There are 5 things that I have discovered are important to include in your UEP™:
- Reputation. You should be able to communicate very quickly why prospects can trust you and your company. The best way to do this is to talk about those that refer you and use you. Testimonials for example are more powerful than your own words.
- Experience. The second thing that your prospects want to know is that you know what you are doing, or that your product has a good track record. The more specialized the experience the more you can charge.
- Education. When you participate in the latest training and certification, build that into your message to build even more confidence.
- Systems. Share how your product or service will be delivered. What is unique about the delivery? What do others not do that is important to your prospect that you can capitalize on?
- Guarantee. If you can offer a 100% money back guarantee (or more), you can reverse the risk and get more people to move forward with your service. Will you get some who will take advantage of your guarantee? Sure, but in most cases the math comes out on your side. Think about how many more clients you will gain and the quality of client if they KNOW that you stand behind your product.
Be sure to fill these five values with unique benefits and you will be on your way to acquiring more high quality clients.