Grant Leboff : Articles : SPEAKERS for BUSINESS

Grant Leboff

Inventor of Sales Therapy®

Articles

What Do I Really Sell?

All of us in business understand what we do and what we can deliver for the client. The accountant knows he can ensure his customers are as tax efficient as possible as well as complying with all the current legislation. Meanwhile the I.T. maintenance provider understands they are there to prevent any computer problems and help their customer's business run more smoothly.

Many people in commerce are familiar with the idea of a "USP" or "Unique Selling Point" a phrase coined by copywriter Rosser Reeves in 1961. The idea is that you have a benefit which is unique to your product or service that will attract new customers. It is true that being different from the competition will certainly help you stand out. If you look hard enough there is always something special you can offer based on your unique experience, your geography, your background or team, that others won't easily be able to copy and will benefit a client. Of course coming up with a "USP" in today's market place is not easy.

Most of us work in sectors where the competiton is fierce. There are more companies offering an increasing amount of similar products and services than ever before. This is due to it being ever easier to start a company. These days all it takes is a laptop and a mobile and you are in business. Moreover, with the advances in technology and globalisation we are not only competing with other local businesses but often with companies all over the world.

While having a "USP" is important I would suggest that today there is something equally vital that is rarely considered especially by small businesses. I would, in the 21st century, like to coin a new phrase; the "ESP" or "Emotional Selling Point". Buying is less of an intellectual exercise and more of an emotional one. The reason why some people truly get addicted to shopping is it affects one's emotions as does alcohol, caffeine and chocolate. Scientifically, it is well known that the brain's limbic system which governs feelings is much more powerful than the neocortex which controls intellect.

So how does this affect what you sell and how it is communicated?

For every product or service there is an emotional element to the sale. I would argue in many ways it is the emotional essence which is really being sold. Understanding what that is for your customers will bring a new sense of identity. It will give a true sense of purpose to what you do and will give any presentations or marketing literature a clarity that will mean you will stand out from the crowd. Unfortunately, for most companies their marketing material and message is anything but powerful. This is because people do not understand what they really sell. They are selling the real "emotional" problem that they solve for their clients. It is actually this which is their very essence. Charles Revlon understood the concept fully when he said, "In the factories we make perfume but in the stores we sell hope". Revlon understood he wasn't selling bottles of perfume but something much more powerful.

Similarly, why is it that a branded T-Shirt with the Harley Davidson logo or trainers with the Nike tick, will sell for so much more than the equivalent unbranded product? Harley Davidson understand they don't sell motorbikes but Freedom and Rebelliousness. People will pay more for something with their logo on because it fulfils an emotional need. The Nike tick stands for Winning. It is about being the best. When someone buys a pair of trainers with the Nike logo they are buying more than a pair of trainers. They are identifying themselves as successful and fulfilling the need to be seen that way.

Although these are consumer examples the same is true in a business to business environment. We are all in sales and marketing. You can be the best at what you do but without marketing no one knows you exist and without sales you have no customers. However, unless you understand exactly what business you are in, you will never get your sales message exactly right and therefore will never be as successful as you could be. This is because you are trying to market yourself without the most powerful tool you have which is your "ESP" or "Emotional Selling Point."

Think about it. What is the emotional side of your business? What feelings do you want your customers to experience? Do you sell candles or romance, accountancy or reassurance, training or empowerment? Once you understand the business you are really in, and the emotional problems you solve, you can put a package together that really works. You will be clear about what you stand for and so others will understand that too. You can ensure your message is consistent. Does your "USP" go together with the emotional promise you have? Do your logo, literature and message work together? Do the problems and benefits you talk about make sense in light of what you really do?

By understanding what you really sell you can transform your proposition into a much more powerful message. This in turn will help all your marketing and give a consistency to how you run the business. It will also help you identify who your target customers really should be and the best way to reach them. In short it will help you to increase your sales and grow your business. So forget about the product or service that you provide and ask yourself, "What is my "ESP", What Do I Really Sell?"