Page 156 - merged.pdf

CHAPTER 5 MULTIPLYING YOUR BUSINESS PROFITS

that is most valued by the customer? For example, FedEx’s
UCA is ‘getting your packages delivered overnight.’ This is
the one key benefit that makes them different from all their
competitors. Why did they choose this? Because one of the
greatest problems customers face is having to wait a few days
for their packages to be delivered, especially when they need
it urgently. Their customers’ greatest desire was to have their
packages arrive as quickly as possible – in fact to be given
the assurance that it would arrive the next day!

While FedEx chose to focus on their EFFICIENCY as their
UCA, their competitor, United Parcel Services (UPS) chose to
focus on RELIABILITY instead. Hence, United Parcel Services
(UPS) uses the tagline ‘ As good as taking it there yourself’.
They also know that one of their customers’ greatest fears is
having their packages lost or damaged, so they built their
UCA around that problem/fear.

Some of the most powerful UCAs used by companies are
based upon current frustrations that customers experienced
with their competitors’ products. For example, when Teflon
(maker of cooking utensils) found that cooks found it frustrating
when cooking that food would stick to the frying pan. So their
winning UCA was that their frying pans were ‘non stick.’

Now, it is your turn. Think how your product/service is superior
to the competition. ? Is it faster? More effective? Why is it
more attractive? Does it save the user more money? How does
it create more value? Write down the three most important
unique benefits.

Benefit # 1:

Benefit # 2:

Benefit # 3:

SECRETS OF BUILDING MULTI-MILLION DOLLAR BUSINESSES 147