Unique Selling Proposition, USP, is what makes your business different from everyone else in your market. A strong, unique point of difference can help you attract and retain customers and reduce client churn.
That said, pinpointing your USP requires some hard soul-searching and creativity. One way to start is to analyse how other companies use their USPs to their advantage. This tends to require careful assessment of the current market situation, initiating different marketing campaigns and gathering customer feedback. Fortunately, with the emergence of different modern sales tales, it is not a hard task nowadays to keep up with trends that your target audience or consumer follows.
WHY IS A USP SO IMPORTANT?
A Unique Selling Proposition defines your company’s unique position in the marketplace, getting at the heart of your business. That is, the value you offer and the problem you solve. A strong USP clearly articulates a specific benefit. Most importantly, a benefit that other competitors don’t offer. Ultimately, it is what makes you stand out.
If all the products appear to be the same, your prospective customers won’t know which one is right for them. However, being clear about your unique selling proposition helps customers differentiate between the variety of choices available to them. Put simply, it is a crucial part of effective selling, especially online where consumers have so many options.
Also, a USP can also serve an important role internally. That is because it forces you to consider your company’s mission and its very reason for being. Consequently, as a business owner, you need to consider and communicate who your business is for. Also, consider what drives you to offer the services you offer, and how you want to make a unique impact.
Your USP is your key differentiator and the reason your customer will buy from you and an important part of your marketing strategy for attracting new customers.
A business can peg its USP on product characteristics, price structure, placement strategy (location and distribution) or promotional strategy. These are what marketers call the “Four P’s” of marketing. They can be established and adjusted from time to time to give a business a market position that sets it apart from the competition. In this blog, we will discuss more ways on how you can create and develop a unique selling proposition for this year. To start with, here are the key points that you should consider:
Put your team ahead of the competition, get them on a bespoke HBB Group Social Selling Workshop. This can be onsite or virtual, it is all tailored to your team and up to you. Contact the HBB Group 1300 833 574 or email email@example.com for an exciting conversation.