A unique selling point (USP) tells your audience why should they choose your brand over the crowd of competition. Without it, you may find it fairly difficult to convince your potential customers to buy your product or service.
Which is why getting your USP right is so important.
What is USP?
A unique selling point is that one benefit or a factor that only you offer and no-one else does in your market – whether that’s higher quality, a lower price, a better customer experience or a new technological innovation.
However, unless you support this attribute with a clear, crisp, and impactful USP, there will always be a palpable void between your projections and your actual achievements.
In other words, a strong and clear unique selling point will help your audience to understand what your business has to offer.
Examples of a killer USP
Although FedEx no longer uses this slogan, it’s a perfect example of a killer USP.
In a few words, FedEx gives its customers the guarantee that it will deliver their packages safely and on time.
The slogan actually delivers not one but two benefits: the security of knowing that the package will be delivered as promised, and the ability to save time by getting it there overnight.
Who would think of making a selling point out of the fact that your product doesn’t melt when you hold it?
M&Ms did, and it worked very well for them. This goes to show that as long as a benefit is meaningful to prospective customers, it will be effective.
In this case, the fact that the M&M candy shell keeps the chocolate inside from oozing out and dirtying your hands is a definite plus for customers.
How to find your own USP
Define your target audience
Before you begin your marketing journey, you really need to pin down WHO you’re advertising to.
Think of who would benefit from purchasing your product or service the most.
Be as specific as possible.
Analyse your competitor’s audience.
Also, consult your customers, colleagues and friends to make a list of all the reasons why someone might choose to buy your product or service.
Identify your competitive advantage
You should be able to pull out one or two things that you believe your business is really good at.
Make a list of your competitors and see which needs they are meeting.
Compare your features and benefits with either your direct competitors or a business you want to emulate. Identify the benefits your business has that sets you apart.
Don’t dismiss looking into already existing offers on the market – find out whether these promises are actually delivered.
If not, there’s your chance to shine.
What’s in it for your customers?
Make it to the point and state it as a benefit to the customer.
Forget about your own opinion.
This is entirely from the perspective of your customers.
Once you know the emotional need, add it to your list.
Define Your Promise.
A big part of a successful USP is making a pledge to your clients.
While this can be implied instead of spelt out in your USP, write down this promise you make to your clients in this step.
Create a short phrase
Keep it short and sweet though – make it easy for your audience to remember.
Use the words from the previous steps that you singled out.
It’s not about being the best on the market.
Having a great product or superb content is probably not enough of a difference to make your business stand out!