How to determine your USP!
USP stands for Unique Selling Proposition or Unique Selling Point. It is the thing that differentiates a product or service from its competitors. Unique Selling Points tend to revolve around price, quality, or service. This is because these three things are what customers value the most.
Why do I need a USP?
Unless you have developed a completely new product, you probably have competition. You need to give your potential customers a reason to choose you over your competition. Having a USP will give you direction for your marketing which will further increase sales.
How to figure out your USP?
Step 1: Understand your target market
Who is your target market and why did or would they purchase your product or service? If you haven’t asked your customers this in the past or your customer data doesn’t answer this, then one way to do this is by conducting a survey among your existing customers. Another way is to read through your online reviews (both good and bad) and take note of why people chose you.
“Everyone” is not an answer. Remember you don’t need to appeal to everyone. Getting one person to connect strongly with your business is better than 5 people whose feelings are neutral. Why? Because that one person is already sold. Finding your USP will lead you to your ideal customers.
Step 2: What is your competitive advantage?
Write a list of all the things that you do well. Research your competitors and see whether they are meeting customer needs. Are you doing anything better? Can you do what they are doing, but better?
Online reviews are a great place to find inspiration.
Step 3: Make the statement
Turn, what you believe is your USP, into a statement. Write it in different ways. You could also describe each idea through an image, to help bring the concept to life.
When you make a statement, make sure that you can back it up. When you say that you have the best Italian food in town, the first question that will pop into people’s minds is “Why”. Make sure that you can back it up with Awards or Reviews. People will check! If you say that you have great service but all your reviews say that your wait staff is rude, then your statement loses credibility.
Step 4: Get it out there
Push your message! You should always be reminding customers of your USP and showing them examples of how you are achieving this. Whenever you are investing in any form of marketing (website, logo, slogan, etc), ask yourself ‘does this clearly communicate my USP to the customers?’
Think a little broader – What are you (and your competitors) not delivering to the customers? Is there something about the industry that all customers have an issue with?
We are always here to lend a helping hand if you need it!