A unique selling proposition is a point that stands out as specific to your brand in the eyes of the consumer. It is arguably the most important business fundamental and will determine the level of ease or difficulty you experience with audience perception, first-time and repeat buyers as well as website traffic.
Once you’ve established your unique selling proposition, selling your product will be much easier. However, finding your USP isn’t always easy and can sometimes require some real soul searching to determine what sets you apart from your competition, especially if you are situated in a highly dense market, with many similar products or services.
The first step to identifying your USP is to do an intensive and exhaustive analysis of your brand as well as your competition. Search for at least one point that sets you apart from everyone else, which you can capitalize on and use to market yourself. This point may be a unique feature or your competitively low costs of your product or service.
Sometimes you’re just too close to your brand, especially in the start-up stages, and it can be difficult to pinpoint your USP authentically. It may be a useful to bring in a third party to help you evaluate your brand against your competition. This will not only help you identify your unique selling proposition, but also offers the added bonus of product improvement ideas and company direction.
If you’re product or service isn’t the least expensive option, or it does not have any individual feature over other brands, try to think about how you’re appealing to a unique emotional need of your potential customers. To further help you pinpoint your USP, make sure you fully understand your target market, and more specifically, your target audience and consumer. You have to answer their questions of ‘What is in it for me?’ and ‘Why should I choose your brand over another brand?’.
Finally, it’s not enough to know your unique selling proposition; you need to build your advertising around it. Aim to convey your USP in a few short words, or in a memorable slogan. Persuasively establishing your unique selling point will save you both time and money by allowing your product to sell itself.