To have a successful internet business you must have a plan, then take action, and from there correct and improve upon your business. These are a given. But during the planning stage of your internet business, there is one key ingredient that you must have or at best you will make money but it will be short lived.
That key ingredient is a "unique selling proposition." Skip this and your online business will not be around long, and that's if you're able to even get it off the ground.
Design Your Own Unique Bait
Ask your target database what they do not like about you competitor's product. Ask them what they would add to your competitor's product to make it perfect. Ask them what they would delete form your competitor's product that is not necessary. Ask them to design it exactly the way they want it.
From this research you will try to create a competitive advantage or what Jay Abraham calls the USP … Unique Selling Proposition.
Probably the best USP in the past 50 years belonged to Domino's Pizza. Fresh, hot pizza delivered to your door in 30 minutes or less-Guaranteed. The second best USP was created by Federal Express: When you absolutely, positively have to have it overnight.
People were willing to pay 50 TIMES the price of a first class stamp just to get their mail 3 times faster. Think about that!
The USP is a specific promise that you make to your customer. What can you promise your customer that your competitors are not promising?
For Robert Allen's real estate seminaries, his USP was "Nothing Down." His promise was: "Send me to any city. Take away my wallet. Give me $ 100. And in 72 hours I'll buy an excellent piece of real estate using none of my own money."
Today his USP has expanded: A stream of checks in your mailbox-in 21 days from today. At his training events he and his staff show people how to be up and learning multiple streams of income within days not months or years.
When it comes to a USP, you can not go wrong by highlighting and delivering fast results. Remember, people are lazy. If they have a choice between easy and hard they'll take easy EVERY SINGLE TIME!
If they have a choice between simple and complicated, they'll take simple EVERY SINGLE TIME.
Time is the worst currency of the new millennium. We do not need more data. WE are already on information overload. We are all data drunk. We need information that is "time friendly." This is your most important competitive advantage: the ease and speed of results.
You should read the classic book "Positioning: The battle for your mind." By Trout and Ries. Great book. It will teach you how to position your "David" infoproduct against a "Goliath" competitor.