Having a Unique Selling Point (USP) is extremely important to a BDM and property management department. A USP is a product or service you provide that is different from, and better than, that of your competition. Without a USP you run the risk of getting lost among the other property management departments in your region.
Too many BDMs think a USP is a mission statement or use tag lines such as:
We care the most
We have been around the longest
We are the best
We have years of experience
The response to most of these is “who cares?” If you are using those kind of openers, you will miss your opportunity.
A USP should separate you from your competition and raise the bar to a level only you can reach. The right USP will help you achieve your goals, put you in a league of your own and you will stand out from other BDMs. Your USP should stop your prospective landlords in their tracks and grab their attention. It needs to be short and to the point.
When you are writing down ideas for your USP, you must remember to have a call to action. You want prospective landlords to be saying “tell me more” or asking, “when is the best time to make an appointment with you?”. You should always focus on the landlord’s needs and desires. Find out what is important to the landlord and then make it available where possible. The question that is always in the back of the landlord’s mind is “what’s in it for me?”. Your USP should feature the benefits of working with you and give them a taste that leaves them wanting more.
Once you have fined-tuned your USP and you are 100 per cent confident, don’t waste any more time. Start using it! As long as you have your team’s support, you can start testing the power of your USP and use it for promotion.
BDMs, your goal is to get your message across clearly and concisely. Here are three suggestions that will help fine-tune your USP:
1. Identify what makes your agency unique – The first thing you must do is define the unique advantages your agency has over your competition.
2. Be specific – The original standard claims about customer service or simply being the best are not enough. Start by creating a list of each specific benefit that your company provides. As you review your list, one or more unique aspect should emerge to provide the basis for a strong and specific USP.
3. Keep it short and to the point – USPs are not introductory paragraphs. They are generally a phrase or sentence. Don’t ramble. The more concise you are, the better your results will be.
Once you have an effective USP, you can identify the most important benefits of using your agency. When you are satisfied with the final outcome, it is very easy to integrate the USP(s) into all of your marketing and prospecting.
Get both the sales and property management department together and start brainstorming your USP. If after the meeting you find you don’t have one unique point of difference, send everyone away and schedule a follow-up meeting in a week’s time. Between you and your team members, you should be able to agree on one that will work for the entire agency.
Here are some samples to get you thinking:
We not only care the most about your investment property, we are the only ones who will…
We understand the risk involved with owning an investment property; that is why we pride ourselves on being…
We are not just the best agency in the area, we are the only agency with a superior property management department that offers…
After your agency has confirmed a USP, it is time to use it!