A great USP makes it clear why your business stands out in a crowd of competitors. Take the time today to sit down and clarify exactly what it is that makes you and your company unique.
USP stands for Unique Selling Point or Unique Selling Proposition. It's a term used in marketing that is supposed to tell prospects and customers what it is about your product or service that is unique, valuable and relevant to them.
A great USP makes it clear why your business stands out in a crowd of competitors. It helps your potential customers understand how you are different and why this difference is an advantage or benefit to them. Your Unique Selling Point answers the question why people should work with you rather than your competitors.
Your USP has to be right for you, your business, your clients and your prospects and it relates to some aspect of your business such as:
* the way in which you provide your services
* your personality or style
* a specific system you've created
* speed of service
* a solid guarantee
* your problem and solution in itself
* your business or marketing approach
* delivery mechanism of your services or product
It's important to figure out your USP as there are likely a variety of other businesses, individuals, products or services that can potentially provide a solution to your prospects' problems. This is why it's important that you figure out what your unique position is. Your USP is what makes your product or service different and more valuable to potential clients, and it is the main reason they will choose you over your competitors.
How do you determine your USP?
To find your USP you have to figure out what about your business is fascinating, helpful, unique or different. You are looking for some factor that sets you apart from everyone else.
To come up with your unique selling point, it's helpful to look at it in a few different ways:
1. point of view of prospects and clients
2. relevant personal and professional experience
3. comparison of competition
Point of view of prospects and clients
It's important to fully understand what your prospective and current customers feel is valuable with regards to your services and products. Your difference must be of perceived value to them - they must care about your unique difference because it helps them in some way.
Pretend that you are a potential client from your target audience or niche market with the problems you've defined in the previous section. Think about what results you are looking for and what would make you sit up and take notice of a business that solves your problems. What would make you choose one service or product over another one?
Ask your current clients directly. Take a few to lunch or have a phone conversation with them and ask what they feel sets you apart - makes you unique and makes them want to do business with you.
Relevant personal and professional experience
Think about your personal and professional experiences and identify anything that you feel provides extra value to your clients.
If you are a weight-loss coach and you have overcome weight issues yourself, then that experience will probably result in a more beneficial coaching experience for your clients.
Another example is you may have many years of experience working in a certain industry. Your experience is a plus for your clients because you can demonstrate that you understand their "world", because you used to be part of it (or still are).
Comparison of competition
You can also do a competitor analysis to determine why someone would choose your product or service over the competition.
Pick your key competitors and think about if you were a prospective client and were considering purchasing from all of these companies. Then ask yourself, what would make you choose your product or service over all the others?
An important point to keep in mind is that your clients must value your USP, and it must be relevant to your product or service. If it is not, it won't do you much good as a Unique Selling Proposition.
If you do not find or create a difference, potential clients will find no compelling reason to purchase your products or services over your competitors' products or services.
So take the time today to sit down and clarify exactly what it is that makes you and your company unique. I guarantee there is something!
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