KOTAK MAHINDRA BANK

Essay by devilidevil September 2004

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Importance of Unique Selling Proposition

A USP is that distinct and appealing idea that sets you and your business, or practice, favorably apart from every other generic competitor.

If you don't honestly believe you can deliver on your USP, pick another one to build your business on. Just be sure it's unique and that you can fulfill it.

Remember, the USP is the nucleus around which you will build your success, fame, and wealth, so you better be able to state it. If you can't state it, your prospects won't see it. Whenever a customers needs the type of product or service you sell, your USP should bring your company immediately to mind.

Clearly conveying the USP through both your marketing and your business performance will make your business great and success inevitable.

Importance of Personal Selling

Personal selling can require a lot of time, energy, and expense, but the payoff can be tremendous.

Despite all of the new high-tech alternatives, an in-person sales presentation is the single most powerful marketing tool in use today. National television advertising, telemarketing, e-mail, or print advertising have nowhere near the ability to motivate a particular customer to actually place an order as does face-to-face selling.

And despite any fancy slide or computer show or other dog-and-pony show you might use, your most effective selling tool will be your verbal presentation and interaction with the prospective buyer. In almost every case, the owner of a small business will be able to make the most effective sales presentation, even more so than someone with more extensive sales experience.

When you are starting out small, you are probably going to have to do a lot of selling yourself in order to jump-start your business. Your effectiveness as a salesperson will be an absolutely critical factor in...