If a company wants to survive in today's competitive market, it must have attributes that stand out from its competition. These attributes can come down to various factors such as price, quality, customer service, and much more. When you identify which of these factors your business excels at, it becomes your Unique Selling Proposition or USP.
The USP will give you an advantage that will encourage customers to buy from you over your competition.
The Purpose of a Unique Selling Proposition
When you think about advertising, think about all of the commercials you see during television shows and how each tries to capture your attention in just 15-30 seconds. How can these companies stand out amongst their competitors and have everyone choose them?
Wouldn't it be nice if there was some way that could focus on just part of their business that makes it different than everyone else's? That is what the purpose of a USP is.
How To Identify Your Unique Selling Proposition
Coming up with a good USP isn't always easy, but there are ways to identify it. As you are going through the process of analyzing your company and comparing it to other businesses in the industry, make sure to focus on these four main points:
Product Features
If you are selling a unique product, determine which features sets your product apart from the competition.
Customer Benefits
What does this mean? This refers to those advantages or valuable aspects of your business that customers will benefit from when they purchase from you.
Alternative Options
What else do people have access to if they decide not to buy from you? Is it only you?
Cost Factors
Why should people choose your product or service over everything else? If they are already purchasing from someone, why should they change vendors? Pricing is a significant aspect of this.
Communicating Your USP
There are many ways to communicate your USP to your potential customers. Some companies use a slogan that will remind people of their product's benefits and why they should purchase from them. Others decide to create a catchy jingle or advertisement with images that show off the USP in any way possible.
On your companies website, your USP should be front and center. If possible, you should reference it on the hero section of your website so customers cannot miss it. For many companies, it may be too lengthy to include in that section, so you should include it in the intro section of your homepage, right underneath the hero section. Putting it any lower than that may risk having potential customers miss it.
Conclusion
Having an excellent USP can be one of the most critical factors in marketing any business. No matter what industry you are in, having something unique will make your company stand out amongst competitors. When you know exactly what makes your service or product different from others, customers will be able to choose whom they buy from easily.
Have you identified your Unique Selling Proposition for your company?
Share your USP with us in the comments section below!
