What exactly is USP?
USP – Unique Selling Point.
Your USP is a feature or trait of a product or service that you offer that makes it different from others who offer something of a similar nature. USPs usually make it more appealing to potential customers – your winning difference that sets you apart from the competition and makes you the best choice.
It is essential that you use your USP well and make it the cornerstone of your marketing strategy. A strong and unique selling proposition can help you attract and keep customers who might enjoy that USP a lot.
But my business doesn’t really have a USP, how do I stand out?
Until you know your USP, as well as how to use it to your benefit – your business will blend into the crowd of other brands offering the same things as you.
If you’re like most new business start-ups and don’t know how to determine their unique selling point, you will most definitely get risk getting lost in the crowd and struggle with attracting enough customers to support your business.
Apply these 5 simple techniques to determine your USP:
(Get your pen & paper and take the next 5 minutes to find your winning difference)
Step 1: Brainstorm ideas
Creating the USP of a business is not the task for a single individual, gather your team and start collecting ideas. You could even start by asking your friends and family. Get your creative juices flowing and keep a record of all your brainstorming ideas.
Step 2: Identify your customers
Identify your target audience based on their age, location, gender, purchasing power and other such characteristics. You don’t want to make the mistake of promoting your astounding products and services to people who has no interest at all.
Start grouping them into different buyer personas and be as specific as possible. Try to be specific. The more you’re able to define the characteristics of your target audience, the better.
Step 3: Analyse your competitors
Do your market research and analyse what’s available to your target audience. Listing your direct competitors and do an in-depth analysis of each of them.
Understand how your competitors are promoting their brand. Take a glimpse at their social media pages, websites and other marketing materials. Get a clearer picture of all your competing products, their strengths, weaknesses and more.
Step 4: List your strengths and weaknesses
Identify your strengths and market them to attract your target audience. What makes your products better? Are you priced competitively? Do you offer complimentary delivery?
Identify your weaknesses and discover what needs improving. If your products are priced above average, show the process or reason behind it through your marketing materials. Customers value transparency.
Step 5: Now for the fun part, finally, figure out your USP
How do you stand out from your competitors?
Using all of the data collected, think about the features that make your brand distinct. Look for that magical element in your business that isn’t found anywhere else. Voila, you got your USP. As much as possible, try to stay away from big words that make it difficult for the customer to connect with your brand.
Keep your USP short and sweet for the best impact.
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