USP stands for ‘unique selling point’ and is one of the simplest ways to communicate to a mass audience ‘why we should buy from you.’
If we were to use supermarkets as an example, then M&S’s USP would be ‘luxury’, Tesco’s would be ‘prominence’ and ASDA’s would be ‘value’. It’s the most basic factor that makes your company stand out from your competitors, gives customers a reason to shop with you, and will give potential customers a clear idea of whether or not you’re the right company for them.
Your unique selling point should be directed at your target audience, so the first step on our list is to:
- Ask your customers why they use you
Really focus on your target market and ask your customers why they come to you for your services. Are you more affordable than most? Is it the high quality of your products? Do you alway go the extra mile? Find out who you’re targeting, how much money they spend and what’s most important to them.
- Identity competitive advantages
Even if your competition are preaching similar things, are you better at it? Locate where your company sits compared to others, but bear in mind company size and history too. There will always be cheaper and more expensive companies, but identify your strongest points compared to your competitors.
- Broaden your research
It’s also worth investigating trends and changes within the industry that you’re in. Suddenly something new (or old) might come into fashion or a law might change and affect purchasing decisions, could your USP adapt to this new upcoming market change? Will you still be relevant in 5 years time?
- Test, refine and communicate
Position your brand in at least 3 different ways, focusing on separate selling points each time. Ask peers, colleagues and even potential customers which they feel more swayed by. Once you have decided on your strongest idea, communicate this as often as possible. Add the message to your tagline, add that tagline to your email footer. Communicate it loudly and proudly!
For any assistance with finding your USP, standing out from your competitors or for ideas on how to communicate it effectively, give Fill the Gap a call on 01522 581 911. We’ll be happy to help.