Every entrepreneur, business tycoon and business major student knows this important concept in business.
In short, unique selling position is how you differentiate yourself from your competitors. There is no me too business that can be successful in the long run.
Every new businesses that enter an existing market needs to have something different from their competitors.
The question you need to ask yourself for unique selling position is this,
What makes you or your business special or different in the marketplace?
Then the next question people will ask or eventually will ask is,
How to come up with unique selling position?
Well, the following tips will help you to come up with the unique selling position for some businesses that you intend to start in future.
1. Ask yourself why people will want to buy your products or services and not some others.
In this case, why you want to read my blog on make money online and not others gazillion blogs on the same topic out there.
2. Examine your particular market to see what is there and what is missing.
In this case, what things do the top bloggers lack and how can I further improve on the things they lack. Maybe be the presentations of their content or there are too many unnecessary words.
See the two examples below,
1st example,
Dell Computer Corp, as usual the same example use in almost every business textbook, Dell Inc, was founded in 1984 by Micheal Dell. At that time, all the other major computer companies was selling PCs through distributors and retailers, creating a huge markups price of $1000 for each PC.
It's unique selling position at that time is lower price for a PC with the same configuration, by selling directly to the customers (remove the middleman, i.e. distributors and retailers).
If Dell will to sell it's brand of PC through the normal distributions channel at that time, it will never have survive and prosper.
Think about it, if there is a new brand of PC that costs around the same as IBM, HP or Compaq. I'm sure most of you will rather buy the more prominent brand.
In short, unique selling position is how you differentiate yourself from your competitors. There is no me too business that can be successful in the long run.
Every new businesses that enter an existing market needs to have something different from their competitors.
The question you need to ask yourself for unique selling position is this,
What makes you or your business special or different in the marketplace?
Then the next question people will ask or eventually will ask is,
How to come up with unique selling position?
Well, the following tips will help you to come up with the unique selling position for some businesses that you intend to start in future.
1. Ask yourself why people will want to buy your products or services and not some others.
In this case, why you want to read my blog on make money online and not others gazillion blogs on the same topic out there.
2. Examine your particular market to see what is there and what is missing.
In this case, what things do the top bloggers lack and how can I further improve on the things they lack. Maybe be the presentations of their content or there are too many unnecessary words.
See the two examples below,
1st example,
Dell Computer Corp, as usual the same example use in almost every business textbook, Dell Inc, was founded in 1984 by Micheal Dell. At that time, all the other major computer companies was selling PCs through distributors and retailers, creating a huge markups price of $1000 for each PC.
It's unique selling position at that time is lower price for a PC with the same configuration, by selling directly to the customers (remove the middleman, i.e. distributors and retailers).
If Dell will to sell it's brand of PC through the normal distributions channel at that time, it will never have survive and prosper.
Think about it, if there is a new brand of PC that costs around the same as IBM, HP or Compaq. I'm sure most of you will rather buy the more prominent brand.
2nd example,
Google Inc., Google was founded in 1998, about three years after Yahoo!, yet in terms of search volumes and ads revenue, far exceeded that of Yahoo now.
Both are search engines and search engines generate profits mainly from advertising revenue.
Advertising revenues is a direct positive correlation to the number of users to the particular search engine. In other words, the more users a search engine has the higher it's income from advertising.
Yahoo can be said to be one of the first search engines, it began as a directory first, but then got into search. The advertising on Yahoo is mainly large flashy banner ads plastered across the Yahoo's home page and also across it's search result pages.
At that time, when the Internet is still in it's infancy stage, the common accepted and used form of advertising is of course large flashy banner ads. That time majority of the Internet users were still using dial-up instead of broadband now. So not only the banner ads were irritating and provide no value to the end users, it also takes up the limited bandwidth of dial-up Internet access.
What is the unique selling position in Google other than their search technology?
They don't have intrusive large banner ads plastered across here, there and everywhere.
Their home page is utterly simple. The use of Adwords completely eliminates banner ads. Ads shown are matched to what users are looking for. Words of course have a much higher click through rates than flashy banners.
Advertising on Google Adwords is of course more cost-effective than plastered a large banner ads across a high traffic website like the Yahoo homepage.
The above fact attracted a lot of small time businesses to advertise on Google. Those small business cannot afford to buy a space on Yahoo's or MSN's home page.
Google Inc., Google was founded in 1998, about three years after Yahoo!, yet in terms of search volumes and ads revenue, far exceeded that of Yahoo now.
Both are search engines and search engines generate profits mainly from advertising revenue.
Advertising revenues is a direct positive correlation to the number of users to the particular search engine. In other words, the more users a search engine has the higher it's income from advertising.
Yahoo can be said to be one of the first search engines, it began as a directory first, but then got into search. The advertising on Yahoo is mainly large flashy banner ads plastered across the Yahoo's home page and also across it's search result pages.
At that time, when the Internet is still in it's infancy stage, the common accepted and used form of advertising is of course large flashy banner ads. That time majority of the Internet users were still using dial-up instead of broadband now. So not only the banner ads were irritating and provide no value to the end users, it also takes up the limited bandwidth of dial-up Internet access.
What is the unique selling position in Google other than their search technology?
They don't have intrusive large banner ads plastered across here, there and everywhere.
Their home page is utterly simple. The use of Adwords completely eliminates banner ads. Ads shown are matched to what users are looking for. Words of course have a much higher click through rates than flashy banners.
Advertising on Google Adwords is of course more cost-effective than plastered a large banner ads across a high traffic website like the Yahoo homepage.
The above fact attracted a lot of small time businesses to advertise on Google. Those small business cannot afford to buy a space on Yahoo's or MSN's home page.
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