3 Steps to Standing Out in a Crowded Marketplace

Here’s what you need to know about selling in a crowded marketplace…

It’s hard.

Why?

There’s a lot of noise.

So what to do?

You can separate your product/service from the competition by clearly defining a Unique Selling Proposition (or USP).

Basically, your USP is why your product is different and the main reason why people should buy your product/service over the competition...

For example…

I stumbled upon a video ad the other day:

“We’re like LMNT electrolyte drink mix, but better!

“We use organic ingredients. LMNT does not.

We use sea salt. LMNT does not.”

The ad was using a comparison to outline their USP and share why their drink mix is better.

This can be very effective.

But…

It also helps to understand the level of sophistication of the marketplace before creating your USP.

For example…

When the electrolyte drink mix first entered the marketplace it was new and all they had to say was:

”Like your favorite sports drink, but without all the sugar!”

And that worked.

Until several other companies started making the same product.

Which meant… more ads that were all saying the same thing.

Which meant… the market became flooded with similar products using the same message about the same USP.

The level of sophistication of the electrolyte drink mix market increased.

Customers were seeing the same messaging over and over again and it was no longer unique.

So, any new brand that entered the market had to have a new (more sophisticated) USP to cut through the noise:

”Like your favorite sports drink but without all the sugar + we use organic ingredients + we use real sea salt!”

See what I mean?

The USP evolves as the market evolves.

→ If you are entering a fairly new market with a fairly new product… it helps to keep your USP very simple, so you don’t confuse your customers.

Ex: ”Like your favorite sports drink but without all the sugar!”

→ If you are entering a well established market with a lot of competition… it helps to match the level of sophistication of that market and craft a USP that is clear but unique.

Ex: ”Like your favorite sports drink but without all the sugar + we use organic ingredients + we use real sea salt!”

Now, when it comes to the online education market…

Your USP is the reason why your online course is going to work for your customers to produce the desired results that they are looking for.

It’s the unique system, or the unique process, that you’ve developed to produce results for your customers.

It’s: “The simple 3 step method to lose 10 pounds in 10 days”

Or: “The XYZ method to [desired results]”

Here’s why this is important…

People usually decide to buy based off emotion.

Then, they justify their decision to buy based on logic.

When your USP is clear, and easy to understand, it gives your prospect logical supporting evidence to back up the emotional decision that they’ve already made.

In my online basketball training business we sell a vertical jump training system.

The decision to buy is an emotional one… so our headline reflects this:

“Finally dunk like a total badass...”

The USP and unique mechanism is the reason why our system works:

“Train the elastic fibers of your body using special targeted exercises...”

It’s our unique approach to training your vertical jump to dunk.

And it works.

That product has been the top selling vertical jump training system in the world since its launch.

So, to quickly recap:

1. Your USP/Unique Mechanism is the reason why your product/course/service is unique and different than the competition.
   
   

2. People usually decide to buy based on emotion. And justify their decision with logic. Your USP provides the logic to support their decision so that they can comfortably complete the purchase.
   
   

3. The level of sophistication of the market will dictate your USP. In a more crowded market you will need a more sophisticated and unique mechanism to stand out. In a newer market you can use a more simple USP so you don’t confuse your customers.
   
   

Easy peasy.

Your 3 steps to standing out in a crowded marketplace.

 
That’s it for today.

They’re grinding metal outside the coffee shop I’m writing this from right now and it sounds exactly how it sounds.

So I’m out right after I hit send on this email.

Have a good Thursday.

- Adam