4 Ways to Identify and Develop Your Unique Selling Proposition

4 Ways to Identify and Develop Your Unique Selling Proposition

If you want to distinguish yourself from the competition, it’s important to identify and develop your Unique Selling Proposition (USP). Put simply, your USP is a summary of what is unique about your business and how your business adds value to your current or potential customers.   Your USP can also help you identify and narrow monthly or yearly goals. When you understand how you’re different (and hopefully better) than the competition, you can establish goals and marketing initiatives that help you grow. Your USP: Why It’s Necessary Put yourself in your customers’ shoes. Sometimes there are too many choices, making it difficult for you to know who to trust with your hard-earned money. Do you choose the first option to pop up on your Google search? Or, when doing your research, do you choose the company that will add value that its competitors can’t add?   Understandably, your business’s USP is vital because it shows the customer why you’re the right company to choose and in what ways you’re different and better than the competition. #1 Conceptualize Your Business and the Competition Before you can develop a USP, you’ll need to spend some time brainstorming. Ask yourself — and then write down — what makes your company unique, what your ideal customer’s pain points are, and how your product or service addresses those problems. If you’re struggling to figure out what makes your company, product, or service unique, just throw down ideas whether or not you assume them to be “good” ideas. You might find that your business is unique for some seemingly insignificant reason, like the way...
How to Grow Your Business with Geofencing

How to Grow Your Business with Geofencing

Geofencing is one of those things that can sound intimidating if you don’t understand it. That happens with any new technology. It’s unknown and sounds vaguely expensive, and you might think that you need a lot of experience to figure out how to incorporate it into your marketing. I get it. But geofencing is a strategy that I think small business owners should be using — and you can’t use it if you don’t understand how it works and have resources to help you implement it. With that in mind, here’s the breakdown of what geofencing is, how people use it, and the resources you need to grow your business with it.   What is Geofencing?   Geofencing is technology that draws a virtual fence around your business. You can specify the fenced area, which may be the shopping center where your store is located, a parking lot or garage, or even a larger radius around your store. When customers enter the perimeter, they’ll receive a notification that provides an incentive to visit your store. Geofencing is an enormously effective marketing tool. To give you an idea of just how big of a difference it can make, here are a few stats to chew on:   80% of shoppers say they are willing to receive location-based messages. Over 50% of consumers who receive a location-based notification from a store will visit the store. 72% of people who open the notification will follow through with a purchase if a CTA is included.   That last statistic is interesting because it indicates that you can benefit from geofencing even if you...
The Business Fads That Will Get You Prepared For 2017

The Business Fads That Will Get You Prepared For 2017

Mobile Apps Broaden Their Reach Mobile Apps Are Busting Through Large corporations have long been on the app bandwagon. Local business owners, however, have been nervous about making the leap. Considering that many business owners felt they had little to offer in the way of an app, this was no real shock. New studies, though, have shown that half of small business owners will have their own app by 2017. While this still does not mean an app is vital for your organization, it may be time to start brainstorming ideas. EMV Payments Becoming the Standard EMV payments have already been the talk of every industry since 2015. You have likely seen these kinds of payments with terminals that require credit cards with chips to be inserted. While only 25 percent of debit cards were designed with this chip by February 2016, this number will continue to rise. By 2017, individuals will consider EMV the industry standard, and they will feel as if merchants who do not accept these payments are putting their financial information in jeopardy. Implement this change and then use it as a marketing point. Generation Y Hits the Scene For years, businesses have concentrated on Millennials due to the huge growth in the demographic. Those individuals, though, aren’t the youngest group you must cater to. Individuals in Generation Y are currently entering their 20s, so entrepreneurs must begin to focus on this cohort. Not altering marketing to bring in these new consumers could hurt your small business in 2017. Changes are never easy in the business world, but if your company has any hope of...