Differentiate and Dominate with a Unique Selling Proposition (USP)
A Unique Selling Proposition (USP) is the one, quantifiable thing that makes your company different from all of the rest.
Once you can identify your USP, the opportunity to create a strong branding impression increases significantly. After all, the product or service you offer is most likely comparable with those around it. Finding the thing that makes it unique and building a marketing strategy around that point will make your business stand out.
If you can’t identify your USP, your branding message will miss out on the potential to make an impact. As a result, your business will blend into the crowd. There is already enough competition: Don’t you think you should give your business every advantage?
Identifying your USP will help you better position your brand in the market. For example, if research shows that your accounting service has brought peace of mind specifically to new business owners, build a campaign strategy around that target audience and that message. Without a specific USP, your business runs the risk of being just another accounting service.
1. Talk to Customers
Clients that you have worked with in the past are a great source of information. Take the time to talk to the ones you’ve worked with to determine what it is about your business that kept them coming back. Speaking with several customers will help you pinpoint common factors.
2. Identify Your USP
Once you’ve done your research, evaluate the results. Sometimes, the USP you thought your business was offering is completing different than what the customer is experiencing. Build your USP around what is actually happening in your brand.
3. Incorporate USP into your Brand
Now that you understand the experience the customers have with your brand, build on that. Perhaps your business offers peace of mind for new mothers, financial freedom for busy professionals or creative housing alternatives. Incorporate that message into your brand.
Concept Marketing worked with an IT company that was struggling to get noticed in a busy industry. While most IT companies offer an hourly rate for service, this IT company offered a fixed-rate monthly service. As many consumers in the industry were frustrated by hourly rates, this was a major selling point. Within months of building a branding message around this USP, this company grew from a five figure business to a multi-million dollar turnover.