Senior Business
UNIQUE SELLING PROPOSITION
This is about finding your competitive edge.
A Unique Selling Proposition (USP) is a distinctive feature or benefit that sets a product or service apart from competitors. A business that understands its USP can communicate its value, attract target customers, and establish market differentiation.
Why bother?
Understanding USP can enhance brand recognition and customer loyalty, and can improve profitability.
Create a USP by following these steps
1. Research
Understand the company’s products/services, target audience, mission, and values. Analyse their marketing materials, website, and customer reviews.
2. Identify features/benefits
List the features and benefits of the company’s products/services, and consider which of them are most valuable to customers.
3. Analyse competitors
Conduct a competitive analysis to understand what sets the company apart from its rivals. Determine where the company excels and where it is unique.
4. Customer needs
Assess the primary needs and pain points of the target audience. Determine how the company addresses these needs better than competitors.
5. Focus on uniqueness
From the insights gathered, pinpoint the most distinctive aspects of the company’s products/services that provide a clear advantage over competitors.
6. Craft a clear statement
Create a concise and compelling USP statement that captures the unique value proposition. Should be easy to understand and memorable.
