Unless you are lucky enough to be the only brand in your industry, you must differentiate yourself from your competitors. How to do that? The answer is through your Unique Selling Proposition or USP. A strong, instantly identifiable USP can make or break a business in today’s competitive market and niche marketing industries. Therefore, it is essential for you to know what a Unique Selling Proposition is. This is a guide on everything about a USP including how to create a Unique Selling Proposition, and why you should use one for your overall marketing strategy.
Until and unless you know what your USP is, and how to capitalize it, your business will be simply another voice in the market. In this guide on how to create a Unique Selling Proposition, you will learn how to write a compelling USP. for your product or service.
What Is a Unique Selling Proposition?
In simple language, a Unique Selling Proposition is what makes your brand different from others in the market. A strong and compelling unique selling proposition can help you to attract and retain clients and lessen the client churn.
For some businesses, identifying a USP will be simpler compared to others. For instance, if your business is the only dedicated supplier of a lion-taming tool in America, this will be your strong unique selling proposition. Sure, there are a lot of companies that sell circus equipment, but your business solely focuses on high-end accessories for the intelligent cat behavioral performance artist- this is what will set your company apart from the rest of the crowd.
However, for most businesses, identifying a unique selling proposition is not that simple. In fact, for more conventional brands, it can be hard. Luckily, there are several ways you can make a unique name for your brand, even if you make or sell a common product or service. Let us have a look at the step by step guide to developing a unique selling proposition.
How to Create a Unique Selling Proposition
The best USP’s address a certain need experienced by a brand’s ideal customer. A great unique selling proposition, sometimes also called a value proposition, must focus on what specific quality separates a business from its competitors.
Unique Selling Proposition Best Practices
So, what are the important things that we should keep in mind while creating a positive Unique Selling Proposition?
- Think from a customer’s perspective
Before you start thinking about the qualities that set your business apart from other similar companies, you must know almost everything about your customers. While identifying your ideal customer, consider these:
What do your customers want?
How can your product or service solve their issue?
What are the factors that motivate their purchasing decisions?
Why do your current customers prefer your business over your competitors?
Keep in mind- it is not enough to just target a rough demographic. You must know to whom you want to sell your products and services and why. Once you answer these, you can start working on the unique selling proposition best practices, which are:
- Explain how your company solve your customer’s Issues
Customers don’t want to purchase products-they look for something using which they can solve their problems. This could be as simple as buying a reliable set of tools that will last for several years.
Let us consider the cosmetics industry. Companies in this sector not only sell make-up, but they also sell lifestyle ideas, confidence, style, and glamour tips. Think about this as a problem-solving context. People who may not feel glamorous, stylish, or confident will if they start using a specific product. The cosmetic advertising industry keeps this in mind, and this idea is applicable to many other sectors also.
To create a compelling USP for successful businesses, it is important to check the profile of customers and then sell your products in a manner that shows them your company can solve their problems. You cannot write compelling, persuasive content in the voice of the consumer unless you know who they are. If your prospective clients choose your products or services, will their lives be improved? If yes, how? How is your business model different from other brands in the market? The answers to these questions should be the base of your Unique Selling Proposition.
Make Your Business Compelling to Your Buyers
Now when you know who your prospective customers are and their problems. Next, tell them why they should choose you over your competitors.
FedEx is the right example of this policy. Definitely, there are millions of packages carriers customers can choose from, but FedX’s catchy slogan, “When it absolutely, positively has to be there overnight” changed the company from a simple logistics company to a world-famous brand. Though the company dropped the slogan several years ago, the USP of FedX and branding helped it become an exclusive name in the market.
Another best practice you must follow while creating a unique selling proposition and value proposition for your business is making your clients a promise. For instance, FedEx guarantees that it can get any product from any part of the world to its destination overnight. This addresses the specific need of customers. It also makes a promise to customers that they deliver packages on time, with care.
Develop an Elevator Pitch
So, you have found your ideal customer, explained to them how your business can solve their issues, and told them why they should choose you. However, you will not have too much time to explain all these. Just like ads have few seconds to capture a customer’s attention, your USP must be almost obvious.
Thinking of your USP as an elevator pitch is a great way to prove your business is different from others. It also shows how you can use it as the base of your marketing efforts.
A unique selling proposition template
Let us again take the example of the lion taming tool business. Please note that things inside the brackets can be altered as per the specifications of your brand. This framework can be applied to both individual products and companies.
- For (lion tamers)
- Who (need best quality lion-taming tool)?
- Is (world’s only dedicated lion-taming equipment distributor online)
- That (offers the best lion-taming equipment, offered straight to your door)
- Unlike (other companies supplying circus equipment)
See how simple it is to create a compelling Unique Selling Proposition once you have answers to all these questions. If someone asks you about your business, then you can use this as your answer. Thinking of your business or products in this way allows you to focus on things that matter- your ideal client- and find any issues with your USP. See how easy it is once you have all the pieces of the puzzle? If someone asks about your business, you can use this as a snappy, concise way to explain what your company does. Thinking of your business or products in this way allows you to focus on what really matters – your ideal customer – and identify any glaring problems with your USP.
What is a unique selling proposition in marketing?
It is important your USP is mentioned in your ad copy. If possible, it must be in the headlines or in the first line of your ad. If you plan to use your USP in the headline, ensure that it is keyword rich. on the contrary, if you include your USP in any other part of your ad copy, then make sure it pays emphasis on the benefits of using your products and services. There are many advertisers who mention the important features of their product before discussing the benefits to their clients, but this is a big mistake. By focusing on the benefits of your product, you are placing a greater value on the emotional side of your prospective buyer.