Unique Selling Proposition – Why You Need One? (Part 1)

Unique Selling Proposition

In business, especially a new business start-up, you don’t have the money or time to waste on developing an expensive marketing promotion. However, you need to capture your prospects’ attention immediately. You need a unique selling proposition (USP); one that captivates your audience.

Many new business owners are struggling to find their unique selling position. They are in the process of getting their business set up and running quickly but haven’t been able to find that one feature that makes their business different from similar businesses. They need to determine their unique place in the market but isn’t sure how to go about doing that. They’re either struggling to find their USP or suffering from not having one. They don’t know who their target market is. If you try to cater to everyone, you take the chance of getting lost in the crowd. You won’t be able to attract enough customers to support your business or you end up working with ones that aren’t your ideal client.

Here, we’ll discuss why you need a USP and how to find yours. We’ll discuss understanding your target market and finding unique ways to serve them.

Let’s get started on why you need a USP.

1. Your Unique Selling Proposition Makes You Stand Out

Standing out among the crowd in the vast business world needs all the help you can give it. You have to make your business unique to your demographics in order to be found. One way to do that is with your unique selling proposition (USP) which basically means having a unique place in your market niche.

2. Your USP Convinces Your Customers Your Company’s Value

Your USP is what convinces customers of the value of your company, its products or services. It’s what sets you apart from your competition. Using it throughout all your marketing campaigns is what will, in the long run, make them successful.

Many of your prospective customers may have trouble determining which company deserves their money, time and trust. It can be daunting for those customers who aren’t experienced in knowing what separates the different competitors in an industry.

3. Your Unique Selling Proposition Makes Your Company Easy to Remember

That’s why your company needs to help them by having a unique selling proposition that is different, obvious and easy to remember.

You want to be able to show them your unique value and how they can benefit from doing business with you.

As Theodore Levitt, author and professor at Harvard Business School, says:

“Differentiation is one of the most important strategic and tactical activities in which companies must constantly engage.”

One way to tell what a good USP is to look at some from other businesses. Some examples of USP’s you might recognize include:

“When it absolutely, positively, has to be there overnight.” FedEx

“The nighttime, coughing, achy, sniffling, stuffy head, fever, so you can rest medicine.” Nyquil

“We Try Harder” Avis Rent a Car

“Finger lickin’ good.” Kentucky Fried Chicken

Your USP is not necessarily your slogan. They can and often are different. Your USP tells what makes your company unique and the benefits it offers its customers.

A slogan is usually a quick, easy to remember phrase used for branding.

Think of McDonald’s slogan: I’m lovin’ it.

That doesn’t’ tell you what the company is about.

A solid unique selling proposition lets you stand out from your competitors. It allows you to focus your time and resources on creating things that specifically cater to your ideal customers.

To be continued…