This super BASIC marketing tactic made me a millionaire

Summary

In this video, Bruce shares a strategy to differentiate a business even when selling a common product. The story of Forrest Mars and M&M's is used to illustrate the power of a unique selling proposition (USP). During WWII, Mars created a chocolate that wouldn't melt in soldiers' pockets. Post-war, copywriter Reeves crafted the USP 'melts in your mouth, not in your hand,' which revolutionized M&M's marketing. The video explains that a USP must be beneficial, unique, and emotionally engaging to stand out and grow a business.

Takeaways

• 📢 A unique selling proposition (USP) can make a business stand out without changing its product.
• 💡 The USP should be a single sentence that encapsulates the product's unique benefit.
• 👨‍💼 Forest, the candy company owner, solved the problem of chocolate melting by creating a hard shell for it.
• 🔥 The USP for M&M's was 'melts in your mouth, not in your hand', which addressed a real problem and provided a unique solution.
• 🚀 A successful USP should be beneficial, unique, and emotionally resonant.
• 🌟 The benefit of the USP should be something that sets the product apart from competitors.
• 💖 The emotional attachment to the benefit is crucial for customers to connect with the product on a deeper level.
• 📈 M&M's sales skyrocketed after implementing their USP, selling one million pounds per week within four years.
• 🎯 To create a USP, a business needs to identify what makes its product special and how it can emotionally appeal to customers.
• 📝 Copywriters like Reeves play a key role in crafting a compelling USP that captures the essence of a product's unique value.

Q & A

What was the problem faced by soldiers during World War II that Forest's candy company aimed to solve?

Soldiers during World War II faced the problem of not having food for extended periods, which led to a lack of energy. Forest's candy company aimed to solve this by providing chocolate energy pellets that could be carried without melting.

How did Forest's candy company address the issue of chocolate melting in the soldiers' sacks?

Forest's company addressed the issue of chocolate melting by creating a hard shell around the chocolate pellets, which prevented them from melting until they were eaten.

What was the unique selling proposition that Reeves, the copywriter, helped Forest's company develop?

The unique selling proposition that Reeves helped develop was 'Melts in your mouth, not in your hand,' which highlighted the candy's ability to stay solid until consumed.

How did the unique selling proposition impact the sales of Forest's company after the war?

After the war, the unique selling proposition 'Melts in your mouth, not in your hand' helped Forest's company stand out among competitors, leading to significant sales growth. Within four years, they were selling one million pounds of candy per week.

What is a unique selling proposition (USP) and why is it important for a business?

A unique selling proposition (USP) is a statement that highlights the most compelling reason for a customer to purchase a product or service. It's important because it differentiates a business from its competitors and can drive sales by appealing to customers' needs and desires.

What are the three essential elements of a unique selling proposition according to the script?

The three essential elements of a unique selling proposition are: 1) It must be beneficial, offering a clear advantage to the customer. 2) It must be unique, something that competitors either don't offer or can't match. 3) It must have an emotional attachment, connecting the benefit to an emotional response from the customer.

How did the story of Forest's candy company demonstrate the power of a well-crafted unique selling proposition?

The story demonstrated the power of a USP by showing how a simple, yet compelling statement about the candy's unique feature led to a significant increase in sales and helped the company stand out in a crowded market.

What was the name of Forest's candy company that became famous for its unique selling proposition?

Forest's candy company was M&M's, which became famous for its unique selling proposition 'Melts in your mouth, not in your hand.'

How did the change from military to civilian market affect Forest's candy company, and how did they adapt?

When the war ended, Forest's candy company had to adapt from serving the military to the civilian market. They adapted by developing a unique selling proposition that resonated with the general public, emphasizing the candy's unique feature of not melting in the hand.

What is the significance of the phrase 'melts in your mouth not in your hand' in the context of the candy business?

The phrase 'melts in your mouth not in your hand' is significant because it encapsulates the unique selling proposition of M&M's candy, which differentiates it from other candies by highlighting its practicality and appeal to consumers who want a candy that won't melt in their hands.