A company’s unique selling point (USP) is a factor that differentiates a product from its competitors. A well defined selling point should typically highlight the most important product benefits. If this process is done poorly or not at all it will adversely affect the ability of any company to position itself in the business arena. We wrote this article what is your unique selling points to help our customers identify their USP.
If you’re like most new businesses, you don’t want to waste money on expensive marketing campaigns. Many new business owners either don’t know how to determine their USP or they’re suffering from not having one. They’re getting lost in the crowd because they aren’t able to attract enough customers to support their business.
Five Steps To Determine Your Unique Selling Point
1. List the features and benefits that are unique about your product or service. Do a Google search and compare your features and benefits with your direct competitors. Identify the benefits that set you apart.
2. Decide what emotional need is being specifically met by your product or service. Think about this from your customer’s perspective and add it to your list.
3. Identify aspects of your product or service that your competitors cannot imitate. Put a star beside anything that cannot be easily duplicated, reproduced, or copied.
4. Create phrases about your unique product or service that are short, clear and concise. Use the words from steps one to three that you singled out. Be sure they can be easily communicated to and understood by your customers.
5. Answer your customer’s primary question: “What’s in it for me?” Make your answer to the point and state it as a benefit to the customer. Two major stores provide great answers to this question. Target, “Expect more. Pay less.” and Wal-Mart, “Always low prices”.