Know Your Customers' Needs

Why do Your Customers Need You?

Every business needs a reason for their customers to buy from them and not their competitors.

This is called a Unique Sales Proposition (USP). Your USP can be identified by completing the phrase "Customers will buy from me because my business is the only..."

Your USP can change as your business or your market changes, and you can have different USPs for different types of customer.

For example:

• A stationery store could offer a free same-day delivery service for its business customers within a local area - an effective USP for businesses that need fast delivery
• The same stationery store could offer a 5 per cent discount to businesses that spend more than $1,000 a month - this would be a USP for cost-conscious customers
• The stationery store could also make sure it offers the most comprehensive stock of artists' materials in the area - a USP for local professional or amateur artists.

All of these USPs can be effective because they are driven by what the customer looks for when making a buying decision.

It's a good idea to review your USPs regularly. Can you tailor your products or services to better match your customers' needs? Consider asking your customers why they buy from you. This will tell you what they think your USP is - this may differ from what you think your USP is.

It's also useful to check constantly what your competition is doing. Remember - if your competitors are doing the same, your USP isn't unique anymore.

Source: Infoentrepreneur

Patty Block, President and Founder of The Block Group, established her company to advocate for women-owned businesses, helping them position their companies for strategic growth. Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business. The Block Group brings together the people, resources and ideas that build results.

Houston Business management consultant.

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