Unique Perceived Benefit (UPB) is a simple statement that differentiates your business from the competition in the minds of your customers and prospects. It’s what really makes your business ‘stand out from the crowd’.
Your UPB is what makes the DIFFERENCE between a very successful business and one that never reaches its potential!
Occasionally your UPB can be found in your business – but in most cases it needs to be created. And once you have it – you just need to articulate it in a way that makes you stand out from everyone else in your market.
I can’t stress enough how important this is to you.
How can you expect your prospects or customers to be able to choose you, over and above any of your competitors, if they can’t quickly see what it is they do that is so unique and so beneficial to them?
Outstanding businesses have been founded on a UPB alone. For example, here’s a very well known UPB…
“Hot fresh pizza delivered to your door in 30 minutes or less – guaranteed.”
Tom Monahan of Domino’s Pizza created one of the most successful fast food Franchises in the world from the strength of this UPB.
For a moment just think about what Tom did…
Notice he doesn’t say ‘the best tasting pizza’. Domino’s Pizzas are good, but not the best you can get – what he focuses on is ‘what HIS customers (niche) really want’.
And his customers (primarily students living in a 30 minute radius of each Pizza outlet) often buy on impulse so they want ‘food’ delivered quickly, and food that is hot!
Sure they want the pizza to taste good, but they are prepared to ‘suffer’ a little on quality for hot pizza delivered quickly!
Notice that UPB is NOT about what you do. It’s about what you can do for your customers. Find out what your customers want and then give it to them in a simple and easy to understand statement.
You may have heard of USP (Unique Selling Proposition). UPB is similar to this except USP assumes that your competitors are communicating their uniqueness’ to the market.
As you know this just doesn’t happen. Therefore you may have something that’s really powerful but not unique, however if your competitors don’t communicate this uniqueness, then to your prospects or customers it is perceived as unique. Hence ‘Unique Perceived Benefit’!
Plus, there are other factors to consider…
If you are viewed by your customers and prospects to be the same as their competitors, what do you think becomes the important criteria when prospects want your product or service?
That’s right – price.
There’s no hiding the fact that as soon as you create the UPB for your business you automatically take your business out of the ‘price war’ and into the nirvana of higher prices/fees – or more people converting at the same price – and less competition!
That’s the power of UPB