What Is Your USP?
Definition: The factor or consideration presented by a seller as the reason that one product or service is different from and better than that of the competition.
If you can’t answer this question, you are in trouble. Defining a USP is important because it’s the reason you’re in business. Your business exists for a reason. No one has builds a business exactly like their competitor. There is something that sets you apart. It is the question your customer is going to be thinking about when they see your product next to the competitors on the shelf. So, what is it that you offer, that make your product or service so great?
In some industries, defining a USP might be harder than others. For example, the retail clothing market is extremely competitive which makes it harder to be unique but makes it all the more necessary.
Pinpointing your USP and incorporating it into your marketing efforts is the key to effective selling. There are few ways you can start strategizing your USP:
Analyze your competitors USP
Take a look at your competitors, are you able to pick up on their USP?
Put yourself in your customers shoes
Think about their behaviour, their actions, their lifestyle. What are they thinking when they are shopping for your product or service?
Collect data from your clients
If you have built a clientele you could perform a survey or hold a focus group to gain insights into what the market thinks of your product which might uncover why exactly they choose to purchase your product or service opposed to the competition.
Defining your USP may take some time and will likely require trial and error. Your USP may even evolve over time as your business grows and your organization starts to develop a culture and define new goals.