There are two (2) concepts that you need to understand and embrace if you want to succeed in business. These concepts are your Elevator Pitch and your Unique Selling Proposition.
The Elevator Pitch is:
- a short and sweet summary of what you do and it is not really about trying to sell to someone. So instead of telling someone “I mow Lawns”, you might say “We turn our customers gardens into Landscape Showpieces”.
- a pitch for other people’s attention
- what you tell people if you were in an elevator and you only have 30 seconds (or 100 to 150 words) to impress them or to engage them
- a pitch for someone’s attention telling them what you do and hopefully they will be interested to ask you for more information. It is an introduction to what you do and in the process you create some intrigue and hopefully generate some enquiry from the listener
Your Unique Selling Proposition is:
- the reason (or the compelling Point Of Difference) your customers choose you over your competition
- the foundation of your advertising program – it is what you communicate to your market-place. It may be your slogan or tagline.
- the foundation of your professional image – Your image and brand are a result of devising your USP, and your image and brand is carried through to all your livery – clothing – uniforms, letterheads, business cards, magnetic stickers, motor vehicle signage, web sites, emails, flyers, brochures
- the first impression new customers and prospects have of you
- most probably more important to have than your Elevator Pitch
If you avoid or skip defining your own USP, you’ll struggle to grow your business.
Your Unique Selling Proposition is what you tell the market place through your Flyers, Leaflets, Website, Business cards, Brochures, Radio advertisements and so on. It helps to remind prospects and existing customers why you are different to your competitors. It is a summary of all the benefits (as opposed to all the features) you provide to your customers.
This Point of Difference (your USP) that you articulate may be something as insignificant as the location of your business, the way you carry out your service, or the speed of service delivery. So when you develop these concepts or slogans don’t say something like “We provide excellent service”, because anyone can say that. In other words there is NO point of difference here!!!
Famous examples of good Unique Selling Propositions include: “You get fresh, hot pizza delivered to your door in 30 minutes or less – or it’s free.”
FedEx: “When your package absolutely, positively has to get there overnight”
DeBeers’: “Diamonds are forever”
You can see why the Domino’s & FedEx slogans are so effective because they are very specific with their mentions of benefits & guarantees. These slogans or taglines are complete statements which can be verified by the customer and they don’t resort to marketing hype words like “ultimate”, “best”, “greatest”.
The “Advertising Age” voted the DeBeers’ “Diamonds are forever” the best advertising slogan in the 20th century. Also, DeBeers would have benefited nicely from the glamorous James Bond film and book with the same name.
In summary, with both the Elevator Pitch and your Unique Selling Proposition, you are communicating to prospects and customers how you take Prospects with a Problem or Pain to another place where there is Pleasure.