Step-by-Step Guide to Define the Unique Selling Proposition for Your Business
How do you define the “unique selling proposition” for your business? Originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world.
Unlock the benefits of your product by making it unique in the market. A unique selling proposition makes your business different from everyone present in your industry.
With the intense competition being the never-ending apparent tradition in every industry, we need to formulate strategies that make us stand out and not saturate us in the competitive market. Every brand has its identity, and it is essential as that plays the differentiating factor in the ocean of products. “Pick and throw” has become the ideology if the product doesn’t satisfy the customers’ requirements.
Avis’s campaign “We’re number two. We try harder” turned a negative aspect into a positive one and attracted colossal noise. The market share went up from 11% to 35% in four years. Hertz took spot 1 in the car rental industry, and Avis was struggling to be number one.
A well-defined USP for your brand will make you fall in the bracket of “Pick and keep” To make it possible, you need to be loud, vibrant, and unparalleled in the market. Is creating a ferocious unique selling proposition (USP) easy or a mind-boggling task? The answer lies in the edge you plan to start by adopting and choosing the handful of right factors that will flag your brand with a unique selling proposition.
Define Your Customers by Knowing Them
Scrutinizing the target audience demographically is not enough. It would help if you got in their heads to know what they think of your product and how they feel about it. Few questions which need to get answered for defining your customers are:
- What prompts them to buy your products?
- What factors decide their purchase-making decisions?
- Why they choose you over your competitors?
- What challenges are you solving for them, and how?
Make A List of Your Unbeatable Benefits
Analyzing your offering and the advantages, it is creating on the customers is very important to define your USP. A customer chooses you only when every penny of theirs is well spent on the product they are undertaking. So it would help if you were sure that you simply increase your user base and not shrink it in the future. Pen down all the essential and unique benefits that only your brand is offering in the respective industry.
What Pledge Have You Taken?
Promises are the factor that can make and break your brand. To draft a successful USP, you should know what promises you make and how it plays a vital role in uplifting your brand. The main ingredients in the product should narrow down to a single promise. Be clear and determined in the promise you make.
Know Your Competitors Move
When you drive your brand USP’s real meaning, know the competition your brand has with other brands in the market. Check their performance and rule out your identity. Do some intense market research to plan your product and making its existence strong. Pick any 5 or 6 competitors and analyze their offerings, their customers, and how they progress in every dimension of the market.
Adding to the above points, always remember WHAT YOUR CUSTOMERS WANT?
Sentences like “Get good quality at low prices” or “We deliver the best in the market every day” should be avoided as it doesn’t give an accurate picture. Instead of that, try to show how you achieve it, and there you stand out from the crowd.
Contributed by Maulik Masrani, 10+ years of exp. in Digital Marketing & Web Development