Whether you’re starting a new business or planning on adding a new product or service to your existing one, you must always have what they call a Unique Selling Proposition (USP). To put it simply, USPs are what makes your product or service better than your competitors’. This may sound simple enough, but the process of developing one properly and successfully attracting customers is where the difficulty comes in. Luckily, we’ve made a comprehensive guide on Unique Selling Propositions and what you should do to develop them!
How to Develop your USP
Identify the target market
Before being able to do anything else, one of the most important things to take into consideration when developing your USP is to identify your target market. Determine your competitors, and analyze the target market their products and services cater to. In addition to this, go on a deep-dive research and identify the needs and wants of the market and keep note of that.
Evaluate USP ideas
Now that you have your target market, you can focus on your business. Identify your business’ strengths and weaknesses by making a list or a complete SWOT analysis. After this comes the brainstorming potential USPs, and determine which ones align best with the needs and the wants of your target market.
Create a USP statement
You have your ideas ready and your target market, now it’s time to combine what you’ve brainstormed and highlight how your business can stand out from the competitors. Zone in on the ideas that truly align with your market, the ideas that capture your business’ strengths and weaknesses, and the ideas that are not only succinct, but also striking enough to capture your market.
Trial and Error
Now comes the hard part–testing it out. Trial and error is essential to developing a good USP, as you get feedback from potential customers and have a better understanding of how your market will consume your product. Send prototype after prototype, draft after draft, and adjust your USP as necessary until there are more positives than negatives.
After getting the go signal, you’re all good to go! Ensure that you’ve integrated your USP into your marketing materials, and it is also important for the staff members to communicate your USP to customers.
However, it is important to remember that USPs are not a static thing. While this is all ongoing, monitoring the effectiveness of your USP and how well it is being received by the customers is imperative for success. Taking suggestions, ideas, and advice from loyal and new customers can still help develop your USP even further after its implementation in order to stay relevant, compelling, and competitive.
In conclusion, developing a USP is crucial for any business that wants to truly stand out from their competitors. Not only that, but in order to succeed in today’s crowded marketplace, having a well-developed USP might just be enough to catch people’s interest in the onslaught of unique businesses. With the right approach and the right research, any business can develop a strong USP that brings long term growth and success.