Think about the last time you made a major purchase. Why did you choose the product or service that you ultimately went with? Was it because it was the cheapest option? The most widely available?
More than likely, it was neither of those things. In all likelihood, you chose the option with the best unique selling proposition. But what exactly is a USP, and why is it so powerful? Keep reading to find out.
What is a unique selling proposition?
A unique selling proposition (USP) is a feature or concept that makes your product or service stand out from the competition. Your USP should show clearly why a customer should buy your product. This concept is the same for both large and small businesses.
It’s important to remember that your USP isn’t just about creating a catchphrase or “tagline” – it’s about uncovering and communicating what makes you appealing in comparison to your competitors.
You could think of it as the reasons why customers go to you instead of someone else. It could be something tangible, like premium quality or customer service, or intangible, like building rapport with customers or offering tried-and-true solutions. A great USP can help you convince new customers to invest in what you’re offering.
Companies with great USPs
When it comes to brands that stand out, some of the best USPs (unique selling points) you can find are creative and instantly eye-catching. Companies like Apple with their slogan: “Think Different” and McDonalds’ branding of the golden arches are prime examples that set them apart from the competition.
Similarly, Volvo’s commitment to safety and its clever tagline, “driving tomorrow,” highlights their forward-thinking take on automobile design. Even something helpful like Google’s goal to “organize the world’s information” speaks to why people trust them for all of their needs when it comes to searching for solutions online or navigating the everyday challenges we face.
Each one of these offers an additional layer of value and reasoning as to why customers choose a particular brand over another.
How a USP can make or break a business
A unique selling proposition (USP) can be the defining factor for a business’s success. A USP is something that makes your product or service stand out from the rest of the competition, and it should be communicated clearly to potential customers.
If a business has a powerful, clear USP that speaks to their target customer, then it will take off and be successful. On the other hand, if a business does not have a thoughtfully-crafted USP and presents an unclear message to customers, it won’t resonate and could lead to failure.
When crafting your USP, take time and effort to ensure that you are saying what you need to in an engaging way so your customers know exactly why they should choose you over someone else.
Tips on creating an effective USP
To create an effective USP, begin by getting in touch with the core of your message – what makes your brand different? Knowing this will help you cut through the clutter and establish yourself as an expert and innovator.
Then, get creative! Hovering too closely to existing USPs won’t give you much of a leg up against competitors, so be sure to offer new perspectives that leave potential buyers inspired and wanting more. Your USP should be memorable but also concise and carefully considered.
Finally, highlight what sets you apart from the pack – but be truthful about it. If you can’t back up your claims or outmatch competitors on all counts, focus on what those competitors may not offer.
Promoting your USP once you have one
Once you have identified your USP, the first step is to come up with a plan for how you will promote it. Promotional activities can include social media campaigns, email marketing, blog posts, and webinars. This will give you an opportunity to showcase your product or service, what makes it special and how it can benefit customers.
Make sure that your message is consistent across all channels so that you build brand awareness quickly and effectively. You might also consider offering incentives such as discounts or free trials to encourage engagement from potential customers – this helps to boost sales and spread word-of-mouth recommendations.
Finally, look out for speaking opportunities or industry events – these are great ways to connect directly with your target market, build relationships, showcase your USP and gain valuable feedback on improving it further.
Your USP is what makes your business unique and it’s one of the most important aspects of running a successful company. Take some time to brainstorm what sets your business apart from the competition and then craft an impactful USP that will resonate with your target market.
Promote your USP across all channels, from your website to social media to email marketing, and make sure it’s front and center so customers know exactly why they should choose you over anyone else.