Member-only story
I was recently asked to comment on the marketing plan for a local developer’s newest project. I started by asking the marketing manager to describe the development’s unique selling proposition (USP), and he listed the following: freehold, central, next to the MRT, mixed-development, great amenities, and vibrant location.
When he was done, I pointed out that while these were indeed features of the development, they were in no way unique to his project.
I explained that the features he had listed, literally described a dozen other projects in Singapore. As such, if I was a buyer who wanted a property with these features, there was nothing to convince me to buy his specific development.
I went on to describe an experience I had on my recent trip to Bangkok. During my trip, it was a hot day and I was traveling by bus along the highway. As I looked out the window, I saw a billboard for a brand of iced coffee. The picture was powerfully executed, and I was instantly convinced that I needed a bottle of iced coffee. So, at our next stop, I went into the FamilyMart and headed straight to the refrigerator section. When I looked, I saw more than a dozen brands of iced coffee.
Now if you think the company’s billboard ad was successful, I would say you are half-right. The billboard did get me to want a bottle of iced coffee, but the ad failed in getting me to buy their brand, as I ended up buying their competitor’s brand. In short, the brand failed to convey its USP.
I am a firm believer that effective marketing begins with strong and clearly defined USPs. When companies fail to develop and effectively communicate their products and services’ USP, they create demand but may not benefit from it.
