Developing your USP

Developing your USP

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I've recently setup a practice and in all the marketing blurb and courses, people talk about 'researching your competition' and develop your own 'Unique Selling Proposition'

Whilst this makes complete sense and I can see how valuble such info would be, from a practical point of view, how would you do it in the world of accountancy ??

I don't fancy turning up at other local practices in disguise and pretenting to want their help !!!

Thanks for any advice.
Stephen Walker

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By david_terrar
28th Nov 2005 22:06

Market test your introductory letter
A few weeks ago I was chatting to Jason Holden, who runs a family practice (http://www.holdenassociates.co.uk/). He was telling me how he gets his new business, and how he dramatically improved his results when he got the advice of his own clients to re-write his introductory letter. I wrote up
the story here - his ideas on how he differentiates himself might help.
David Terrar
mail: [email protected]
web: http://www.d2c.org.uk and http://www.twinfield.co.uk
blog: http://www.businesstwozero.com

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By User deleted
23rd Nov 2005 19:19

Local knowledge
I'd agree it is very useful to guage the local competition.

I am in a small market town - the type where everyone knows everyone else so you do get a lot of feedback on the competition from lots of sources including ex-clients, contact with the firm when taking clients, info from bank managers and even VAT inspectors.

Also having worked in several firms before setting up my practice I still meet up with former colleagues at CPD events etc where I can pick up 'gossip' on the firms they work in.

I do think its quite easy to create a USP - the best one for a small practice is being friendly and approachable.

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By User deleted
23rd Nov 2005 19:21

Another thought
Just another thought why not take the direct approach - I did. Phone the other local practices, introduce yourself and why not offer to take the partner to lunch. You really dont have to be enemies and it can be quite advantageous to know the local firms - you may even find you pass work to and from each other. I do with the other firms in my area.

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By listerramjet
25th Nov 2005 09:07

uniqueness, is OK but...
the words you use are unique, selling and proposition.

remember that you are mostly selling a commoditised service, nothing unique about that, so how you differentiate must come from how you deliver said service. Take note of recent research from sage (http://www.sagepresscentre.co.uk/Content/Detail.asp?ReleaseID=631&NewsAreaID=2) for an interesting review of what your customers are looking for, and how that does not match what accountants are selling.

its all about selling, and that means you have to search out and engage with customers. Accountants are traditionally considered to be poor at communcating, and their business model often is based on waiting for customers to come to them. This is an area in which you can quickly differentiate yourself.

proposition is the nub of the communication bit. Know your client and know what they want to buy. If your proposition does not match this then it doesn't matter how unique you are!

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