1 00:00:00,520 --> 00:00:02,131 Now in the last lecture, you really finished 2 00:00:02,131 --> 00:00:06,149 up on creating your buyer persona, and you got those 3 00:00:06,149 --> 00:00:10,051 ace extra ways to gather buyer persona data 4 00:00:10,051 --> 00:00:14,010 so you can really pinpoint and find your audience online 5 00:00:14,010 --> 00:00:16,739 and fill out this for the information here. 6 00:00:16,739 --> 00:00:18,699 Now in this lecture, what we're gonna do is move on 7 00:00:18,699 --> 00:00:21,051 to the step two, which is to identify 8 00:00:21,051 --> 00:00:23,208 your unique selling proposition, 9 00:00:23,208 --> 00:00:24,696 and answer this key question really, 10 00:00:24,696 --> 00:00:26,958 how will your products or service succeed 11 00:00:26,958 --> 00:00:31,017 in the marketplace where others may have failed? 12 00:00:31,017 --> 00:00:35,749 So this is a key question, just because you've identified 13 00:00:35,749 --> 00:00:38,869 people who are struggling to get a solution, 14 00:00:38,869 --> 00:00:41,669 are you sure that you can really create a solution 15 00:00:41,669 --> 00:00:43,629 that's gonna solve their problem? 16 00:00:43,629 --> 00:00:46,149 And so this is really very integrated with the first 17 00:00:46,149 --> 00:00:48,429 question, but it's just as important. 18 00:00:48,429 --> 00:00:51,188 It's a tough question, but it's not a small detail 19 00:00:51,188 --> 00:00:52,379 that you can skip over, 20 00:00:52,379 --> 00:00:54,776 it's really critical to your success. 21 00:00:54,776 --> 00:00:56,880 So let's start by kicking off some of the theory 22 00:00:56,880 --> 00:01:00,348 here once again, then I'll run through my example, 23 00:01:00,348 --> 00:01:02,309 and show you exactly the thinking behind 24 00:01:02,309 --> 00:01:04,699 how I developed the unique selling proposition 25 00:01:04,699 --> 00:01:07,309 for this course that enabled it, you know, 26 00:01:07,309 --> 00:01:09,898 to become pretty successful with over 10,000 students 27 00:01:09,898 --> 00:01:14,011 in it now, and then we will really, you can fill out 28 00:01:14,011 --> 00:01:16,533 the unique selling proposition for yourself 29 00:01:16,533 --> 00:01:17,933 once you've got all that context, 30 00:01:17,933 --> 00:01:19,893 and background, and understanding. 31 00:01:19,893 --> 00:01:22,852 So what is a unique selling proposition? 32 00:01:22,852 --> 00:01:25,270 Well this is the way that I like to think about it. 33 00:01:25,270 --> 00:01:27,509 A unique selling proposition really defines 34 00:01:27,509 --> 00:01:29,881 your position in the marketplace, 35 00:01:29,881 --> 00:01:33,178 and lets you stand apart from competitors. 36 00:01:33,178 --> 00:01:35,830 So this is the key thing, lets you stand apart 37 00:01:35,830 --> 00:01:38,321 from your competitors. 38 00:01:38,321 --> 00:01:42,491 And for example, I had question from a student, 39 00:01:42,491 --> 00:01:46,081 she was talking about, I'm real estate in to buy 40 00:01:46,081 --> 00:01:50,458 for luxury properties, what's my unique selling proposition? 41 00:01:50,458 --> 00:01:53,050 And really, you know, there's a lot 42 00:01:53,050 --> 00:01:54,321 of different categories there. 43 00:01:54,321 --> 00:01:57,052 If you're talking about defining your position 44 00:01:57,052 --> 00:02:00,220 in the marketplace, you know, even the luxury property 45 00:02:00,220 --> 00:02:03,070 in Dubai, that's very, very broad. 46 00:02:03,070 --> 00:02:05,280 Are we talking about commercial real estate? 47 00:02:05,280 --> 00:02:09,340 Are we talking about people who wanna buy homes? 48 00:02:09,340 --> 00:02:11,439 Are we talking about bachelors that wanna buy homes? 49 00:02:11,439 --> 00:02:13,849 Are we talking about families who want to buy homes? 50 00:02:13,849 --> 00:02:15,547 Are we talking about people who have 10 million dollars, 51 00:02:15,547 --> 00:02:18,428 a million dollars, 100 million dollars to spend? 52 00:02:18,428 --> 00:02:21,169 So you can see there's a huge range of categories there, 53 00:02:21,169 --> 00:02:23,358 there's a lot of different positions that you could take 54 00:02:23,358 --> 00:02:27,177 in the marketplace, so really think about that for yourself. 55 00:02:27,177 --> 00:02:29,497 Another example that I had is in terms of, 56 00:02:29,497 --> 00:02:32,602 I'm a restaurant, what's my unique selling proposition? 57 00:02:32,602 --> 00:02:34,972 Well, you know, McDonald's is a restaurant, 58 00:02:34,972 --> 00:02:38,242 that's about convenience, but also there's the fine dining 59 00:02:38,242 --> 00:02:42,583 place in the city center, completely different experience, 60 00:02:42,583 --> 00:02:46,002 serving a completely different position in the marketplace, 61 00:02:46,002 --> 00:02:48,989 and very much standing apart from, say, the McDonald's. 62 00:02:48,989 --> 00:02:52,468 So that's what you need to be thinking about, as well. 63 00:02:52,468 --> 00:02:56,148 So how can you identify your unique selling proposition? 64 00:02:56,148 --> 00:02:58,979 Well there's one real easy trick that I used 65 00:02:58,979 --> 00:03:01,437 to develop this course, and I think that it can apply 66 00:03:01,437 --> 00:03:03,628 to many, many of your businesses. 67 00:03:03,628 --> 00:03:07,180 And that is just to fill the gaps left by your competitors. 68 00:03:07,180 --> 00:03:11,268 So what you need to do is go on to, and read 69 00:03:11,268 --> 00:03:14,079 the customer reviews on sites like Amazon, 70 00:03:14,079 --> 00:03:17,500 the app store, Yelp, Trip Advisor, Fiverr, Udemy, Upwork, 71 00:03:17,500 --> 00:03:20,359 whatever your product, and wherever there are 72 00:03:20,359 --> 00:03:24,148 similar products being sold on these marketplaces, 73 00:03:24,148 --> 00:03:26,559 or even just the review platforms like Yelp, 74 00:03:26,559 --> 00:03:28,900 we looked at some of these in the previous lecture, 75 00:03:28,900 --> 00:03:32,748 all you have to go in and do is read those reviews. 76 00:03:32,748 --> 00:03:36,639 Filter straight to the third- and fourth-star reviews, 77 00:03:36,639 --> 00:03:39,500 probably the five-star reviews, they're pretty happy, 78 00:03:39,500 --> 00:03:41,519 so they're not gonna say anything. 79 00:03:41,519 --> 00:03:45,098 One-star reviews can sometimes be a little bit biased, 80 00:03:45,098 --> 00:03:47,108 too negative, so you want to look at those 81 00:03:47,108 --> 00:03:49,856 three- and four-star reviews, and really look 82 00:03:49,856 --> 00:03:52,708 for reviews that say something like this, you know, 83 00:03:52,708 --> 00:03:55,276 I would have given it five stars if, 84 00:03:55,276 --> 00:03:57,978 and whatever comes after that if is something 85 00:03:57,978 --> 00:04:00,357 that you can add to your product to really be 86 00:04:00,357 --> 00:04:04,567 a point of differentiation that you fulfill that thing 87 00:04:04,567 --> 00:04:07,250 that the other product didn't, and that's where 88 00:04:07,250 --> 00:04:09,675 you can really fill the gap in the marketplace. 89 00:04:09,675 --> 00:04:11,686 Yes, you might only be improving the product 90 00:04:11,686 --> 00:04:15,224 by 10, 20 percent, but if that's enough to get a sale, 91 00:04:15,224 --> 00:04:17,256 well then that's all you need to do. 92 00:04:17,256 --> 00:04:19,726 So here's an example of that, this is just a review 93 00:04:19,726 --> 00:04:22,515 that I picked off Udemy, but you know, 94 00:04:22,515 --> 00:04:24,227 it's just something that they would have wanted, 95 00:04:24,227 --> 00:04:26,065 you can add that into your product, 96 00:04:26,065 --> 00:04:29,003 there's just tons and tons of information out there guys, 97 00:04:29,003 --> 00:04:30,926 I can't, you know people are like, I don't know 98 00:04:30,926 --> 00:04:32,976 what customers want, all you have to do is go on 99 00:04:32,976 --> 00:04:35,856 and read the reviews, it's really that simple. 100 00:04:35,856 --> 00:04:39,904 So in terms of another example of this, 101 00:04:39,904 --> 00:04:42,376 I've included a video here starting at the exact point 102 00:04:42,376 --> 00:04:45,915 that they talk about it, between Tim Ferriss 103 00:04:45,915 --> 00:04:48,606 and Noah Kagan, they're kind of well-known marketers, 104 00:04:48,606 --> 00:04:51,427 business guys, very analytical in the way they think, 105 00:04:51,427 --> 00:04:55,754 and Tim talks about here that how he used this same tactic 106 00:04:55,754 --> 00:04:58,304 that I taught you here to really guarantee the success 107 00:04:58,304 --> 00:05:00,576 of his book, The Four-Hour Chef, 108 00:05:00,576 --> 00:05:03,366 and I think that ended up being like a New York bestseller. 109 00:05:03,366 --> 00:05:06,934 So you can watch that if you want for extra context 110 00:05:06,934 --> 00:05:10,056 and proof that this really is a good way to go about it. 111 00:05:10,056 --> 00:05:11,646 So now that you've got that context 112 00:05:11,646 --> 00:05:14,995 about what a unique selling proposition is, 113 00:05:14,995 --> 00:05:17,606 that it defines your position in the marketplace, 114 00:05:17,606 --> 00:05:21,747 let's look at some, you know, some of the questions here. 115 00:05:21,747 --> 00:05:23,326 Or really my example, let's stat with that. 116 00:05:23,326 --> 00:05:27,074 So, in terms of how will my products or service 117 00:05:27,074 --> 00:05:29,656 succeed in the marketplace where others may have failed, 118 00:05:29,656 --> 00:05:31,686 you know, this is something that I thought about 119 00:05:31,686 --> 00:05:35,035 before I recorded a single lecture of this course. 120 00:05:35,035 --> 00:05:37,566 There's tons of courses on Udemy, there's tons 121 00:05:37,566 --> 00:05:41,096 of marketing courses, a lot of them have no students, 122 00:05:41,096 --> 00:05:42,707 and they haven't really gone anywhere, 123 00:05:42,707 --> 00:05:45,622 so how was I gonna be really different? 124 00:05:45,622 --> 00:05:47,903 The product, I think, and service description 125 00:05:47,903 --> 00:05:50,026 is something that you can really start getting 126 00:05:50,026 --> 00:05:52,244 very clear on straight away. 127 00:05:52,244 --> 00:05:56,434 So I was very clear that I was making a 15-plus hour 128 00:05:56,434 --> 00:05:58,914 marketing course published on Udemy. 129 00:05:58,914 --> 00:06:02,474 And you should be very clear about what your solution 130 00:06:02,474 --> 00:06:05,164 looks like, what is it actually that people are buying. 131 00:06:05,164 --> 00:06:09,324 Is it a course, is it an app, is it a consultation call 132 00:06:09,324 --> 00:06:11,314 on Skype for 15 minutes? 133 00:06:11,314 --> 00:06:16,004 Really get very specific about what is the thing 134 00:06:16,004 --> 00:06:17,023 that people are gonna buy. 135 00:06:17,023 --> 00:06:19,762 Is it an e-book, is it a book, a hardcopy book? 136 00:06:19,762 --> 00:06:22,602 You know, get as clear as possible. 137 00:06:22,602 --> 00:06:24,591 After that, I think it's good to define 138 00:06:24,591 --> 00:06:26,362 what you're not going to do. 139 00:06:26,362 --> 00:06:28,572 So one thing that I didn't want to do in this course 140 00:06:28,572 --> 00:06:32,002 is make it very theoretical, I wanted to be very practical, 141 00:06:32,002 --> 00:06:34,240 people could actually go through the process, 142 00:06:34,240 --> 00:06:36,692 and replicate the results that I had. 143 00:06:36,692 --> 00:06:38,303 So that's one thing that I said I wouldn't do 144 00:06:38,303 --> 00:06:40,623 is make it very, you know, theory-based, 145 00:06:40,623 --> 00:06:42,560 'cause I've taken those courses in the past, 146 00:06:42,560 --> 00:06:44,120 they're not helpful. 147 00:06:44,120 --> 00:06:45,793 Now, next, what will be unique. 148 00:06:45,793 --> 00:06:47,593 So this is a key thing about the course, 149 00:06:47,593 --> 00:06:50,642 well this is really where I think it all came together, 150 00:06:50,642 --> 00:06:53,023 making 12 courses in one. 151 00:06:53,023 --> 00:06:55,903 And this really ties back to my buyer persona, 152 00:06:55,903 --> 00:06:58,612 and you can see now how these are so integrated. 153 00:06:58,612 --> 00:07:01,023 I said in my buyer persona, the problem that they have 154 00:07:01,023 --> 00:07:02,962 is that they don't know where to get started, 155 00:07:02,962 --> 00:07:04,812 and they need a step-by-step guidance 156 00:07:04,812 --> 00:07:06,942 from zero to first customers. 157 00:07:06,942 --> 00:07:08,874 So it really does need to span across 158 00:07:08,874 --> 00:07:11,479 all these marketing topics, and I think that's 159 00:07:11,479 --> 00:07:13,399 just fantastic value for money, 160 00:07:13,399 --> 00:07:16,962 12 courses in one, I mean that just, 161 00:07:16,962 --> 00:07:19,879 not a lot of people are doing that. 162 00:07:21,162 --> 00:07:22,091 Also, it's unique 163 00:07:22,091 --> 00:07:24,063 cause it's highly actionable, it's project-based, 164 00:07:24,063 --> 00:07:25,962 and you've got that real-life example 165 00:07:25,962 --> 00:07:29,391 running through every single section of the course, 166 00:07:29,391 --> 00:07:31,212 which is something I'd never seen done before, 167 00:07:31,212 --> 00:07:34,022 so I think that really makes it unique, as well. 168 00:07:34,022 --> 00:07:36,455 Now next the fourth question that I would ask yourself 169 00:07:36,455 --> 00:07:40,394 is what is the proof that you are going to, 170 00:07:40,394 --> 00:07:41,227 how are you going to prove 171 00:07:41,227 --> 00:07:42,564 that your solution actually works? 172 00:07:42,564 --> 00:07:45,343 'Cause it's one thing to say, my solution's great, 173 00:07:45,343 --> 00:07:47,615 it works, but how are you gonna prove that, 174 00:07:47,615 --> 00:07:51,335 and that's really gonna, you know, really help 175 00:07:51,335 --> 00:07:54,204 your marketing if you can prove that your solution works. 176 00:07:54,204 --> 00:07:56,354 So I said I'm gonna show how my marketing works, 177 00:07:56,354 --> 00:07:59,324 my marketing results, be very transparent, 178 00:07:59,324 --> 00:08:01,533 show all my analytics, they're all there 179 00:08:01,533 --> 00:08:03,834 in the Google analytics section of this course. 180 00:08:03,834 --> 00:08:06,523 I've also got public reviews on this course, 181 00:08:06,523 --> 00:08:08,034 kind of built in to the Udemy system, 182 00:08:08,034 --> 00:08:10,194 so people can see what other people who've bought 183 00:08:10,194 --> 00:08:13,655 the course are saying, so it's great kind of social proof. 184 00:08:13,655 --> 00:08:15,900 And I'm also I'm showing those student success stories 185 00:08:15,900 --> 00:08:18,791 on Facebook, so that's part of the marketing, as well, 186 00:08:18,791 --> 00:08:20,775 proving that it actually does work. 187 00:08:20,775 --> 00:08:23,455 So how are you gonna prove that your product works? 188 00:08:23,455 --> 00:08:27,314 Is it gonna be testimonials, reviews, case studies, etc.? 189 00:08:27,314 --> 00:08:29,743 I think it's good to really prove that because that 190 00:08:29,743 --> 00:08:32,554 can make you very unique in the marketplace, as well. 191 00:08:32,554 --> 00:08:35,671 In terms of the pricing, now this is again very connected 192 00:08:35,671 --> 00:08:37,314 to your buyer persona. 193 00:08:37,314 --> 00:08:41,594 I went for a really low price, because I know that 194 00:08:41,594 --> 00:08:44,484 the high volume can make up for the good revenue 195 00:08:44,484 --> 00:08:45,772 in the end of the day. 196 00:08:45,772 --> 00:08:48,323 But reallY, most importantly, the low price 197 00:08:48,323 --> 00:08:50,306 links in with the buyer persona. 198 00:08:50,306 --> 00:08:54,202 If I know that they are starting from scratch, 199 00:08:54,202 --> 00:08:56,163 they don't have any customers, 200 00:08:56,163 --> 00:08:57,895 that means they don't have a lot of revenue, 201 00:08:57,895 --> 00:09:00,732 that means they don't have a lot to invest in a course. 202 00:09:00,732 --> 00:09:04,092 So instead of me charging like $1,000, 203 00:09:04,092 --> 00:09:07,147 I want to make this as accessible as possible, 204 00:09:07,147 --> 00:09:08,827 and put that low price on it, 205 00:09:08,827 --> 00:09:10,840 but make up the difference, maybe, with a high volume 206 00:09:10,840 --> 00:09:15,069 of students, and also that 30-day money-back guarantee. 207 00:09:15,069 --> 00:09:16,960 So think about your product as well, 208 00:09:16,960 --> 00:09:19,099 who are the buyers of your product, 209 00:09:19,099 --> 00:09:21,779 and can they really afford a high price, 210 00:09:21,779 --> 00:09:23,659 or is it gonna be better for you to really stick 211 00:09:23,659 --> 00:09:26,309 to a low price or develop a product that can fit 212 00:09:26,309 --> 00:09:29,240 in with, you know, their budget. 213 00:09:29,240 --> 00:09:32,019 So those are some of the things that I would really think 214 00:09:32,019 --> 00:09:34,219 about, I've given you my real-life example, 215 00:09:34,219 --> 00:09:37,008 all the thinking that I had behind this course, 216 00:09:37,008 --> 00:09:39,379 and so it's time now for you to really go ahead 217 00:09:39,379 --> 00:09:41,559 and do that for yourself. 218 00:09:41,559 --> 00:09:43,797 Fill out these questions, and then I'll see you 219 00:09:43,797 --> 00:09:46,309 in the next lecture, where we're gonna wrap up on 220 00:09:46,309 --> 00:09:48,769 this project, we've got an exciting project 221 00:09:48,769 --> 00:09:52,061 coming up in the next section, so take a couple 222 00:09:52,061 --> 00:09:54,397 of minutes to fill this out, remember that it doesn't 223 00:09:54,397 --> 00:09:57,989 have to be perfect, we can improve this as we go along, 224 00:09:57,989 --> 00:09:59,988 but it is important that you get something down on paper 225 00:09:59,988 --> 00:10:04,067 now and you can just think about it as you go, 226 00:10:04,067 --> 00:10:06,208 and really improve upon it. 227 00:10:06,208 --> 00:10:07,832 So take a couple of minutes to fill this out, 228 00:10:07,832 --> 00:10:09,810 and I'll see you in the next lecture, 229 00:10:09,810 --> 00:10:13,977 where we're gonna wrap up on this section of the course.