A few weeks ago we introduced the idea of business viability and what are the point tests you need to check before you forge ahead with your business idea.
Part of that business viability is your Unique Selling Proposition (USP). What are the attributes that make your business stand out from its competition? At its core, a USP should quickly answer this potential customer’s most immediate questions when they encounter your brand.
Creating a USP requires an understanding of the value you offer to your customers and how is different from your competitors. Here is the step-by-step process of how to create your USP:
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1. Research the market
Analyze your competitors and make your market comparisons as specific as possible for the purposes of finding value proposition gaps.
By understanding this you will be able to come up with a strong selling proposition that will help you to stand out in the marketplace.
2. What do your customers want?
It’s always helpful to create a customer profile that represents your ideal buyer type, which is known as a buyer persona. Find out what motivates your buyer persona and understand them.
Do they rather have the cheapest prices but less quality or they are looking for the best quality no matter the price? Also, keep in mind the shopping experience itself. Are they comfortable buying online or they would rather see your products physically?
3. Create your unique value
Start listing all the ways in which your brand is unique base on the analysis from the previous points. Once you find the one which stands out as most important or most compelling, firmly define it as your USP.
4. Transform your value into a unique selling proposition
Now you have determined the key element that differentiates you from your competitors is time to turn it into a unique selling proposition and implement it in your several plans like your business plan, marketing strategy, communication plan…
We know the beginnings were never easy and managing a small business is not an easy task. And we are also aware that access to consulting services is often limited for smaller organizations due to costs but we know the impact professional help provides to these businesses. Contact us, we exist to offer accessible expert advice to businesses who need it the most.
