What's Your Unique Selling Point?
Create a USP and Stand Out from Your Competitors
A Unique Selling Point (or USP) is something that makes your business stand out from competitors. This article helps you identify yours.
Many businesses promote themselves as offering ‘quality, professional, friendly service’ or advertise as being the cheapest or lowest cost. If that sounds familiar, then it's time to find a Unique Selling Point or USP. A USP is something that:
- Makes you appear different from competitors.
- Tells potential customers exactly what you offer them.
- Tells customers why you are better than your competitors.
Unfortunately, the ‘quality, professional, friendly service’ approach is often very similar to what everyone else says. Also, customers will make the decision on whether you provide the promised level of service, regardless of what you think or claim.
Price as a Proposition
Only one provider in any market or local area can be the lowest cost. For ‘low cost’, substitute ‘low profit per sale’ and see if you still want to be in that category. Also, it’s tempting to think that customers will always go for the lowest priced option, but they don’t. If they did, everyone would always buy the cheapest product available. Think about your own purchases – do you always buy the cheapest of everything?
Examples of USPs
It’s much better to promote a message that doesn’t sound like everyone else and isn’t focused on price. It should be something that allows you to charge a higher price by clearly telling customers what you provide and why they would want it from you. You could, for example, say;
- Widest choice of colours available
- Free delivery
- Delivery within 24 hours.
These are specific points that people can relate to and see that they are better than the competition provides. They also demonstrate quality of service much better than saying ‘quality service’.
Finding a USP
If you can identify what would make customers buy from you rather than a competitor, you have a USP. Find this out by asking current customers why they choose you rather than someone else.
An alternative approach is to list every feature of your offering and then beside it write; ‘which means that …’. This converts your product feature into a benefit. Do the same exercise for your competitors too. Any features you have which are superior to your competitors are USPs.
This exercise will also highlight the main benefits for customers of using you and your product or service, which should also go into your advertising. It’s always better to state the benefits you provide rather than the features as people can then clearly see what they will get by using your company or product, rather than having to work it out for themselves from the product features.
If you’re wondering about the best way to promote your USP, the UK’s Chartered Institute of Marketing is an excellent source of both general and specific information. You can also read Essential Marketing Materials and Marketing your Hobby for tips on marketing activity.
