What is USP in business? Which unique selling points examples are worth emulating? These are both questions to consider if your brand wants to win loyal customers into the future and excel past the competition. Here are three important steps to take...
What three unique selling points are offered by your product or service?
Businesses must stand out in today's highly competitive market to remain successful. But how can you make your business stand out from the crowd? The answer lies in your unique selling points (USPs), also known as unique selling proposition.
USPs are product or service key features or benefits that differentiate it from its competitors. Knowing and understanding USPs is essential for any business looking for longevity in a crowded marketplace.
Here's how to identify your unique selling points and win customers that can become loyal to your brand.
Understand Your Audience
The first step towards identifying your USPs is understanding who your target audience is and what they value most. Ask yourself questions such as:
- What do my customers want from my product or service?
- What do they not want?
- What other products are they buying that might influence their decisions?
This will help you determine what features of your product or service are most attractive to potential customers. Once you understand your target customers and their values, you can begin brainstorming potential USPs that fit their needs and interests.
Analyze Your Competition
Identifying your own USPs also requires studying the competition. Analyze your competitors' products and services. Ask
- Why might customers choose their offerings over ours?
- What attributes do they offer that we don't?
- What are my competitors doing that is successful and not successful?
If there are any winning features they provide that you don't, consider incorporating them into your products or services. Additionally, look for areas where you can positively differentiate your offerings. Are there any features or benefits only you offer? These could be potential USPs.
Defining Unique Selling Points
Quality
The quality of your product or effective delivery of service should be your first priority. People will pay for quality, and continue to pay for the dependability into the future. This is definitely a smart way to stand out from the competition and differentiate your brand to attract customers.
Price
This can be tricky, especially if you aim to offer lower prices than your competitors. The lowest price is not always the answer.
For products, you want to price items fairly -- offering customers value and affordability. For services, the key is a total package that solves a problem and offers an unmatched positive experience. Pricing services should be related with the value offered to the customer.
How products arrive to the customer is important. Something in bright colors that evokes emotion for your ideal customer will always be chosen over something in a generic box.
Can you provide customers with attractive, eye-catching print packaging that stands out from the competition?
Support
This is a fourth unique selling proposition, and perhaps the most important. Good customer service always wins the game! Providing top-notch customer service and support could absolutely be a USP.
Prioritizing this element of the customer experience is often overlooked by contemporary brands. In turn, your brand can win by:
- Answering customers' questions
- Respond quickly to calls over the phone and comments on social media
- Guaranteeing speedy shipment of products or deliver of services
These are just a few examples of possible unique selling points, but it's important to remember that all businesses are unique. So take the time to assess your unique situation and create USPs that work for you.
Identifying And Leveraging Unique Selling Points (USPs)
To sum it up, your goal should be to stand out in a positive way and deliver a WOW customer experience so they stay loyal into the future. That is how you stay competitive in today's marketplace.
Your three key steps to finding out which aspects sets your brand apart from the competition:
- Understanding your target audience and what they value most in a product or service.
- Analyzing the competition – Look at their offerings and compare how your company can provide sought-after features and benefits. Plan for this to be a continuous process.
- Communicating with customers effectively throughout their experience with your brand.
In short, ace your unique selling points. Leave no doubt in your customers' minds so they know exactly what absolutely sets your brand apart from peer brands (your competition).
