Why Should I Buy From You? – The answer to this question is probably the most under-developed answer by businesses, specially SMEs in Lebanon. Although it looks straightforward and simple, answering this question needs deep knowledge of: your targeted segments, your products / services’ added value and competitive advantage. What differentiate your product or service from the competitors.
Also called USP – Unique Selling Proposition – or Selling Story, this question requires from business owners to review their products from the market point of view. And it also requires:
1- A clear definition of the FABs. To put it simply; Feature is what the product or service has, it can be a technical spec like Hight Definition display or 24 hours delivery. Advantage is how the product (or this specific feature) is, compared to competition. A benefit is what the customer will get out of using the product / service. Example:
Blender X has a 400 W power (Feature). It is more powerful than most of the blenders in the market (Advantage). This will ease your workload (Benefit of having this 400 W power).
FABs can be elaborated for the corporate brand, or individual products or services offered under the brand name. Also it is important to notice that not all features will have advantages, but may have benefits similar to the competition. Example, a TV that comes in Matt black finishing or silver finishing might not have a competitive advantage, but surely will benefit the customer with more flexibility or color options to match their TV with the room.
2- A clear definition of their targeted segments. To whom are we offering this product or service. Segmentation factors like gender, age, geographical location, religion, income level, etc. should be taken into consideration.
At the end a USP statement should be created to promote all over the business platforms (Social Media, website, printed promotional material, etc.) as an integral part of the branding.
Example of a USP:
“Slim your wallet without turning your world upside down” by Bellroy for their Slim Note Sleeve wallet.