You can do this by creating what's called an Unique Selling Propostion or USP and then effectively convey that USP to your target market via your marketing efforts and business performance.

This is particularly crucial if you're operating in a highly competitive market.

What Is An Unique Selling Propostion?

Your USP is one thing or idea that sets your business favourably apart from your competitors'. It's a statement of Advantages you bring to your customers that differentiate you from your competitors.

It's focal point around which success and profitability of your business is built and so you must be able to state it and fulfill it honourably and effectively. It's always stated in terms of benefit it delivers to your customers.

Think about this:

"What's one thing that makes your business unique and distinct? Why should people buy from you and not from your competitors? Do you promise great value, benefits or service?"

Advantages could include factors like a broad range of product selection, superior customer service, highest quality, best prices, and so on.

Effective USP Components

When formulating and implementing your USP, it's crucial that you bear in mind following components:

1. Your USP must be truly unique

2. It must be strong enough to excite your target market and get them talking about it.

3. It mustn't be easily imitated or copied.

Look, anybody can claim that they provide best service in town - "We're The Number One Service Provider In America". Do you think this is credible? Of course not, people can see right through it; it's lukewarm and is an empty promise because you can't measure it and you can't hold them accountable. USP such as this can in fact harm your business instead of helping it.

Your USP really needs to pack a punch.

Now, let's take a look at good example:

"Your Parcel Delivered To You The Very Next Day, or It Costs You Nothing!"

Risk Reversal Defined

Risk Reversal, in essence, means that you, business owner, assumes all risks associated with business transactions, and your customers none.

Why Reverse The Risk?

The main reason that you'll want to reverse risk is so that you may boost your sales and profits.

Risk Reversal can easily be achieved by providing an Extraordinary Guarantee. An example would be an iron-clad, no-questions-asked money back guarantee.

Buyers, especially Internet Buyers, are generally skeptical. This is particularly so if they've never dealt with you or your business before. Your credibility is in question and trust yet to be established. Even if they are your existing customers, it's imperative that you employ this powerful marketing concept of Risk Reversal by offering a strong and extraordinary guarantee...

... Here's Why:

Having a strong guarantee is one of most effective ways to counter skepticism and fears of buyers in doing business with you.

If your customers or potential customers see a guarantee, especially an extraordinary one, they can be pretty certain that they'll get what they're after.

It shows them that you're confident about, and have a strong belief in, your products and/or services.

It also goes to show that you're reliable and trustworthy, and if they're not satisfied with your offerings, they've nothing to lose.

The end result is that you'll dramatically boost your sales and profits - sales and profits you would not have seen without strong guarantee.

Here's an example:

Let's say in any of your promotional campaign, you normally sell 500 units of your product. Through a strong guarantee, you increase your sales by 8% or 40 units without spending any additional funds on advertising.

This translates to a total sale of 540 units for that campaign.

Let's say you later experience a 10% refund of additional sale of 40 units, that is, 4 units (10% X 40 units), which you won't.

Even after refund, you'll still make an additional sale of 36 units just by offering a strong guarantee. These are sales that you'll never get without guarantee.

Now you can see how a strong guarantee will boost your sales and profits.

Then Why Are Many Business Owners Unwilling To Offer Such A Guarantee?