Ideally, your unique feature should have the following characteristics:
— it's something only you can do;
— it doesn't cost you very much;
— it is of great value to your customers; and
— it is memorable.
Successful strategies which fall within the category of "unique feature" are often responsible for helping build whole companies. Examples are "pizza delivered in 30 minutes or it's free" and the concept of traveller's cheques. A less innovative initiative but one which satisfies all four criteria and probably generates substantial business is the toll free number of Holiday Inn, 1-800-HOLIDAY, which lets you make hotel reservations anywhere in the world.
For a small business, the unique feature can be on a much more specialized, smaller scale and, at the same time, can be easier to find because your business is more focused and your customers share some characteristics. Your target market is the place to start. What do or would your customers value — try making a list. Which of these things can you do easily and at low cost? What can you do better or at lower cost than others? Can you find something that will be memorable as well? You must be able to come up with something, even if it seems trivial.
This approach and some other good strategies are discussed in Winning Strategies by Global Partners. There are lots of interesting links and good information if you can see past the fact that they're doing their best to sign you up for some training courses. If you use such a unique feature already, let the rest of us know by using the "Discussion" feature at the bottom of the page — examples will give everyone new ideas.
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