I was discussing this with one of my friends that has a business in Key West. We have spent countless hours nursing a beer and deliberating over the changes that Key West is going through. “Will the Historic Seaport be bought and turned into condos?”  “Is the trend to try to bring in the high dollar tourists going to fit with “Funky Key West”?”  “Will that trend work or will it flop?”  “Can Fun and Funky Key West survive the change?”  - We haven’t come up with any hard cold facts, a whole bunch of theories, but they are just hallucinations now.

I want to know what you think. Where will you be in 5 years? Do you still love Key West? How would you like to see it change? How can Key West change to better your business?

Let's Discuss it. I want to know what you think. Hey none of us lives in a vacuum and the changes will affect us all. We can succeed together or all go down separately in a ball of fire!'

What will it be like in Key West in 5 years. Will it be totally different? Will it still be fun and funky Key west? Will you still be a part of it. Do you have any ideas to make Key West better through the change.

Let's talk about it!

John

USP? We don’t need No Stinking Packages!!!

What’s a USP?

It stands for Unique Selling Proposition”. It really identifies why a Customer should spend their hard earned dough withyoiu instead of the next guy.

Determining your USP is the crucial backbone to your marketing and success in any business. USP: The term USP was coined by a marketer named Rosser Reeves. Rosser was a brilliant marketer in the 1960’s. It originated at Ted Bates and Company in the early 1940’s. The theory of the USP enabled this agency to increase it’s billings from $4,000,000 to $150,000,000 without losing a client while getting dramatic, and in some cases unprecedented sales for its Clients!

This is taken From Reeves Book “Reality in Advertising”. (Sadly it’s out of print. I just checked EBay and there is a used copy available for $350.00. If you want a more thorough understanding of the way Reeves thought, $350.00 is a phenomenal investment. It will repay you for years to come!)

The USP is divided into three parts:

1. Each advertisement must make a proposition to the Customer. Not just words, not just product puffery, not just show window advertising. Each Advertisement must say to the reader: “Buy this product, and you will get this specific benefit.””

Now this in itself is kind of common sense, but it is so often violated. Think about the commercials you remember from TV. Do you remember watching a commercial or reading an ad in a magazine and really feeling “I need to get this product because I need its benefit?” I know I rarely see or feel this type of ad. Many advertisers think they are doing it, but they are missing the mark by a long shot. A lot of it is what I call The “Big Dumb Company” mentality. If it looks pretty and my wife likes it… it’s a good ad. More money than brains!

The next one is often broken too:

2. The proposition must be one that the competition either cannot or does not offer. It must be unique – either a uniqueness of the Brand or a claim not otherwise made in that particular field of advertising.”

Seems kinda simple. The operative here is “seems”. As Reeves tells us there are THOUSANDS of Unique Propositions that do not sell. He tells of an ad for toothpaste that said “It comes out like a ribbon and lays flat on your brush”. Which is a proposition, and it was unique. But no one cared about that feature. No one was moved to purchase more toothpaste by reading that proposition.  So we learn that offering something unique in and of itself is not the answer.

The third one most advertisers screw up miserably.

3. “The proposition must be so strong that it can move the mass millions, i.e., pull over new customers to your product.

This one is simple – but not easy.  It’s easy to create a message that you think millions will want to hear and respond too. It’s a lot harder to create a message that the millions want to listen to and respond to.

Why? Well…it’s really simple. You have the curse of knowledge. You are in love with your ideas, product or business. You know too much. That’s one of the great benefits my Clients find in dealing with me. I ALWAYS bring them an educated, sales and marketing skewed set of eyeballs to their business. Truth told… I have people I use to help me grow my business… I have the same problem. I have the curse of knowledge

I hope you see the importance of taking the time… a lot of time… to develop your USP. Once you have your USP, a REAL USP that will make a proposition to your customer that your competitors don’t and will cause them to take action… you’re along way towards a huge business success!

Long Live The Conch Republic!

John

Take a second, grab a sheet of paper and write out the answers to the following questions. Take some time with this… This exercise alone.. if action is taken on your findings, could add a couple of zeros to your bank balance.

Step 1 – When I started this business what was the passion that drove me? Why did I start this business?

Step 2  - Do I still have a passion for my business? Not just am I happy with it, but if my business was performing the way I hoped it would OR the way it used to… would I be happy and passionate about coming to work every day?

If you answer no, then get out. Sell your business. Give it away. Move on. Life is too long to be miserable.

Step 3 – I assume if you made it this far, you are passionate about your business. Good. If you are not enthusiastic about your business, your Customers certainly won’t be!  Here’s your question – What is my Unique Selling Proposition? This isn’t just marketing mumbo jumbo. It’s the key to your new plan for success. What makes my business unique? Why should someone walk into my retail establishment rather than the one next to me, down the street from me, etc. And don’t just say Quality, Selection and Service.  Those are expected. They have become a cliché.

You need to have a unique reason why people will patronize your business. Then you have a message to go to market with.

Who sells a “Me Too” product, but developed a real Unique Selling Proposition?  Starbucks®.

Any way you look at it they’re pretty much selling the same cup of mud you used to get at a diner or “old fashioned coffee” shop for 25 cents. Somehow they wrangle 4 bucks out of me for the Mocha Choca Ya Ya Latte or whatever it’s called. And it’s a tasty drink. It has to be -  ‘cause at 4 bucks they would be wearing them if they weren’t!

So how can they get away with it? They create an experience. You don’t get a large coffee; you get a Venti Tanzanian dark roast. Then they add flavors and steamed milk etc and charge ya 2 or 3 extra bucks for them.
They have a distinct music playing that they KNOW their market likes, the atmosphere, the chairs, tables and snacks they sell are targeted at their niche. Not just “coffee drinkers” Their coffee drinkers.
They aren’t selling to the guy who’s happy with a cup of coffee from 7-11. They want a coffee connoisseur! And it works.  Now they know who their “Target Customer” is, and they can market just to him!
The folks at The Coffee Plantation on Caroline St.  have done a great job of identifying their niche too. Both Starbucks and the Coffee Plantation have developed their USP.

Their unique proposition is to give you a great cup of coffee and a great, UNIQUE experience!

Sounds complicated but it’s really not.

 (Go to post 3 of 3)

The Good News… "They' Say Business Will Be Better Next Month…

The Bad News… Didn't "They" say that last month?

Don’t wait patiently for business on the Island to get better. Do something NOW!

OK, before I start…I know that this commentary may not win me any friends. That’s OK. If you’re pissed at me for blatantly saying – “The Emperor is BUCK NAKED”… so be it. Hopefully it will stir something inside you or might light a fire under your butt and get ya thinking.

Frankly, it’s what my Clients have come to expect from me. We don’t have to be friends, friends will tell ya how the sun will come out tomorrow, keep a positive attitude etc. Well… if you go out to your garden and chant with a big smile, positive attitude and tons of passion, “there are no weeds, there are no weeds, there are no weeds”, well… I don’t have to be Nancy Forrester and her crew at the Secret Garden to tell ya… you better expect to pull some weeds!

Positive attitude is great, but your Clients will reward you by pulling out their wallets and leaving some of its cherished contents with you if you take action.

This really is a pet peeve with me.  The first thing I do when I get to the Island is take it’s temperature, I ask the merchants – “How’s business?”  Almost unanimously they all say “ SLOOOOWWW, but they say it will be better next month!” 

From what I can tell… “They” are a pretty bad predictor of what’s happening in Key West. Who the hell are “They” anyway?

In fact “They” suck!

But there is hope. You are the hope. You can make the difference. You can make sure that you never have to worry about what “They” say ever again!

How?

Take action today. Do something. ANYTHING, even if it’s wrong!

Grab a strong cup of coffee down at the Coffee Plantation., fire up that old under used brain and … Think

(Go to Post 2 of 3)