May
2004 ********************************************
IN THIS ISSUE
Welcome
Article: Do You Know Your Unique Selling Proposition?
News and Announcements
Contact Information
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WELCOME
Well, we’re almost there. Summer. It’s around the
corner. It’s my favorite time of the year, when things slow
down a little and the weather is warm and lazy. Of course, for
those of us with school age children, we have to get over the
end of the year craziness before we can enjoy our summer.
Because my oldest child is a high school senior, the end of the
year hallenges include finals, AP tests, prom, senior exhibition,
awards night and grad night. Not to mention severe senioritis!
That’s okay, though, because in just two weeks I’ll
be watching my little girl graduate from high school. Of course,
that just brings on the next level of activities – getting
her ready for college -- orientation, registration, financial
aid packages, apartment finding, etc. Yikes! Okay, well maybe
I can enjoy the summer come August when things have settled down
a bit…
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DO YOU KNOW YOUR UNIQUE SELLING PROPOSITION?
Your unique selling proposition (USP) can play a big
role in the growth of your business. If you know and
can easily describe what makes you different/better
than your competitors, it will help you in every phase
of the practice building process.
Studies show that in a society where we receive
thousands of messages a day, it is difficult for us
to separate and remember a particular message over
the others. Knowing how you differ from your
competitors allows you to create a marketing
message that will rise above the clutter. It will
also help increase client loyalty because the client
will realize that you and your firm are not
interchangeable with another and thus will not be
as easily wooed away.
The following are steps you can take to determine
your USP:
1. Begin by looking at where your work comes
from. Identify which clients give you 80% of your
revenues. Do these clients fall into a particular
industry? Are they located in a particular
geographical region? Is there a common thread
in the type of work you are performing for each
of these clients? Also, look at the revenue from
these top clients over the last three to five years.
Is it going up or down and why?
Viewing your work this way will help you focus on
your strengths, highlight your firm’s current
positioning, and showcase potential opportunities
for future exploration.
2. Ask yourself what is distinctly different about
you/your business versus your competitors. List
everything that comes to mind.
3. Identify which of the above factors are most
important to your clients. (Note: You may need
to ask your clients to find out!)
4. Identify which of the above factors are most
easily conveyed to your clients and prospective clients.
5. Create a statement (your USP) that is memorable
and that encapsulates all of the above.
6. The final step is to determine all the ways you
can incorporate your USP into your marketing.
It should become one with your brand and be
communicated through your web site, your brochure,
packaging, signage, advertising, and self-introduction.
Key to developing a USP that works is to make sure
that it is truly unique and that you do indeed do it!
If your company’s USP is that it defines innovative
thinking or new approaches to industry problems,
it had better! Innovation means originality and that
means you need to be original again and again or
risk losing any market share you’ve gained based
on your USP of innovation.
So, do you know what makes you special? What sets
you and your business apart from your competitors?
Are you ready to think about it and create your USP?
Give the above steps a try and see what you come up
with. If you want, email it to me and I’ll give you
some feedback.
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NEWS AND ANNOUNCEMENTS
New Business Building Program Out This Fall.
I am often asked what I’m up to when I’m not
coaching, consulting or training clients to build
their businesses. Well, I’m very excited to share
with you that I am in the process of creating a
program called The Business of Law. It’s a
self-study program designed to help attorneys
grow their practices. Using audio CDs and a
comprehensive workbook, the Business of Law
is based on a tried and true program that has
helped literally hundreds of individuals in other
industries dramatically increase their business.
I am so excited to be able to customize the
program and bring it to the legal profession. Now
that the cat is out of the bag, I promise to keep
you updated on my progress!
Give me a call at 858-566-5585 or email at Barbara@Rainmaker-Strategies.com.
Booklet Details.
To purchase your copy of my booklet,
Business Development: 97 Quick & Easy
Tips For Lawyers, go to my web site
at www.rainmaker-strategies.com
or send me an email at
Barbara@Rainmaker-Strategies.com
and I’ll be happy to process your order.
Cost is $5.00 for a single copy (plus
tax where applicable and shipping).
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CONTACT INFORMATION
Barbara Nichols Mencer
Rainmaker Strategies
Barbara@Rainmaker-Strategies.com
www.rainmaker-strategies.com
If you’ve enjoyed this article and learned a valuable
business-building tip, please feel free to forward
this newsletter to your friends and colleagues.
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Copyright 2003, All Rights Reserved. Reproduction
in whole or in part without permission is prohibited.
