Did you know that if you want to get the best price for your products, you’re going to need to find your unique selling position (USP)?
While selling online has become easier than ever before, it has greatly increased the amount of competition you’ll be up against. A unique selling position helps you stand out from your competitors, giving your business a real edge.
The question is, how can you find your unique selling position? Read on to find out more.
Research Your Competitors
A good way to find your unique selling position is to research your competitors. Find out what they are offering and how much they are offering it for. Ideally, you’ll want to look for gaps in their product offering too. Could your business offer something that your competitors don’t?
Researching your competitors gives you the opportunity to see what they’re doing well and determine how you can do it better. This is one of the best ways to find your unique selling position, while outdoing your competitors at the same time.
Use Your Personality
It isn’t always a particular product or service that creates a unique selling position. Did you know that your personality could be used as a USP instead?
Customer service plays a key role in how successful a business becomes. However, even some of the biggest companies get it wrong. If you can use your personality to connect with your customers, you’ll automatically have a unique selling position over your competitors. Ensure you go above and beyond in your customer service too. If you give customers more than what they’re expecting, they are going to keep coming back.
Figure Out Your Target Audience
In order to find your USP, it’s important to know your audience. You’ll want to establish who your target audience is and what influences their buying decisions.
As well as looking into the obvious factors of age, demographics and gender, try to figure out what drives their buying decisions. This will ultimately help you to determine how to add a unique selling position that will lead these customers to your store.
Research What Your Customers Want
You can also look into what it is your customers want. This is different to what drives their buying decisions. Instead, you’ll be looking into any potential gaps in the market.
For example, you could look at what customers are saying about your competitors in online reviews. Pay particular attention to any negative comments or feedback on things their customers want but haven’t received. You could also send out marketing surveys to establish whether there are any products or services consumers want right now that they can’t find anywhere. This would enable you to develop a solution that you know your customers want.
Finding your unique selling position is key to your success. It’s what is going to set you apart from your competitors and keep your customers happy. The above are just some of the ways you can find your USP today.
Freebies: When to Offer Them and When Not
If you’re looking to boost sales of your digital products, freebies can often work wonders. Acting as an incentive to buyers, they have the potential to really drive your sales.
However, freebies aren’t always the best option. Like every type of pricing strategy, there are pros and cons of offering them. Read on to discover how to determine when to offer freebies to your customers and when to avoid it.
When to Offer Freebies
There are a number of instances where freebies can prove beneficial to your business. These include when:
- You’re trying to build up traffic
- You want to increase brand trust
- You want to boost sales
Freebies tend to generate a lot more traffic to your website. If you advertise them on your social media and blog channels, you’ll see a significant increase in traffic to your website. Of course, this doesn’t mean these visitors will buy from you, but it does increase the chances of making more conversions.
Offering freebies can also build up trust in your brand. This is especially true if the freebie you are offering provides useful information. If you offer a free trial or snippet of your product, it also gives customers an opportunity to test out the product before they buy. This provides a level of transparency which is extremely important in today’s businesses. Customers want to buy from companies they can trust.
You can also offer freebies to boost sales. Say you run a website design business. By offering a free template, it shows customers what you are capable of. When the time comes for them to redesign their website, they’ll remember the quality of your free sample and be much more likely to hire you to work on their website.
When Shouldn’t You Offer Them?
So, we’ve looked at the potential benefits freebies can provide. However, it’s also important to know when not to offer free products.
The thing to remember is that freebies are designed to enhance sales. They should be used as a marketing tactic. This means not giving your entire product away for free. After all, why would someone buy your product if they’ve received it at zero cost? So, if you’re selling an eBook for example, rather than giving away the entire thing, provide free snippets. Or, offer a free worksheet your customers will receive when they buy the eBook.
You’ll also want to limit the number of freebies you provide. If you continuously offer freebies, your customers will come to expect them. So, when you do offer them, make sure you do so for limited time periods and don’t offer too many in a short space of time.
Freebies do have the potential to deliver a lot of great benefits to businesses. However, they can also be potentially damaging if you don’t plan them strategically. You need to make sure they’re providing value, but that they don’t give too much away. Take the time to research the different types of freebies you can create and decide which work better for your business.