When I first started my business many years ago, I found finding my USP, one of the hardest things to get to grips with. A unique selling proposition (USP) is something that differentiates you from all of your competitors. It’s what makes you so different or unique in a particular way that customers and prospects will opt to do business with you over any of your rivals.
One of the biggest mistakes you, as a business owner, can make is not finding something that makes you unique, especially in a very competitive market, where customers have an abundance of choice and where differentiation becomes increasingly difficult other than through pricing.
To survive, you have to stand out and differentiate in the eyes of your prospects. Your USP is what explains to the world why you are different.
So how do you go about finding or choosing your USP?
Genuine convenience – such as instant availability, handy location and so on.
Why should I do business with you, instead of any and every other option available to me, including the option of doing absolutely nothing at all?
What do you uniquely guarantee?
When you have a really powerful answer to these two questions, your adverts practically write themselves. When you have a really powerful answer to these questions, people will line up to buy from you.
Why should I do anything about what you’re offering?
A fourth method of identifying your USP is comparing yourself to your competitors over a range of criteria, and focusing your USP around the areas where you score higher. The following table is an example of how you might set out your analysis. Score you and your competitors 1-5 on each of the criteria listed below, or add your own.
First understand the Characteristics that Customers’ Value – Evaluate your strengths and significant competencies. Take a good look at the features and benefits of your product or service and then decide what differentiates you and your business from the pack.
What needs do you fill for your customers?
How big a problem you solve?
What benefits do they appreciate most and which do they actively look for?
Rank yourself and your competitors by these criteria – Check on competition by reviewing leading trade publications, analyse newsletters and search the internet for news and trends about your niche, particularly social media pages.
Here’s another great tip: survey your customers to gather data.
Keep your USP as the central theme throughout all your marketing, and through repetition you will become known as the business to use for that particular USP. Be careful not to try and be all things to all people. Selling to everyone is selling to no one.
To find more information about marketing, check out our marketing guide.