In this competitive world, it’s imperative that your business is differentiating itself from its competitors by crafting a compelling unique selling point. Here, we’ll explain everything you need to know about USPs and how it can help your business.
What is a USP?
So, what exactly is a USP? Essentially, a USP refers to a unique selling proposition. It’s a factor or a consideration as to why one product or service is different or better than that of the competition.
A USP is what sets you apart and is what your business stands for.
How do you know what your USP is?
1. Understand your customers
If you’d like to figure out what your USP is, you’d need to first start by conducting extensive market research. You need to understand what your customers need so you’re able to create a USP.
Take the time to study your demographic and figure out what motivates their buying decisions – whether it be quality, reliability, convenience etc. All of these factors can influence your customer’s decision, and you’ll need to understand them to create an effective USP.
2. Be aware of your strengths
Since a USP focuses on what your business is good at, the best way to develop a USP is to focus on your strengths. Figure out what sets you apart from your competitors and why customers are attracted to you.
Once you’ve figured that out, pick a factor that you’d like to specialise in and focus on that. You can also use A/B testing to figure out which factor stands out to your customers more.
3. Stay away from the rat race
While it’s tempting to be the best at something, it makes more sense to do something that’ll help you stand out. By being the best, your company could end up being the status quo and have trouble standing out. By concentrating on a USP, however, you’re able to change the rules of the game and figure out what makes you different.
4. Get personal
While not the most straightforward, it’s essential to incorporate a strong personality into your business’s USP. If possible, you’ll want to build a recognisable brand that individuals are able to resonate with. Connecting with your customers on a personal level can take your USP to greater heights.
You can do this either by ensuring that you’ve got a face of your brand that’s personable and likeable, or you can consider influencer marketing. With influencer marketing, however, you’ll need to be careful as individuals could be representing different brands and it could dilute your brand’s reputation.
5. Making your business stand out
As seen from the above, USPs are vital to making your business stand out. Not only do they help to set your brand apart from competitors, but they’re also a part of your company, and will help customers with resonating with your business.