Unique Selling Proposition (USP)

What is 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.

So ask yourself when you read this, whether you are a startup or an established business – what’s yours and have you had to realign it over time and through strategic and competitive analysis?

When you’re in business, you need to be relevant to your target audience. Perry Marshall lays out three essential questions all solid USPs should tackle, with examples of good answers for each:

Why should I do business with you instead of anyone else?

“We offer the nation’s most affordable health-care coverage to businesses with 10 employees or fewer.”

What can your product or service do for me that others can’t?

“We sell the only pain-relief cream that will completely eliminate carpal tunnel symptoms in seven days.”

What can you guarantee me that no one else can guarantee?

“We are the only car dealership in the tri-state area with a five-year, 50,000 mile warranty.”

To determine what truly sets them apart, businesses should look at several key areas, including the service they offer, the market they cater to, the products or services they sell, their customer experience, and their pricing, Marshal said:-

“A USP is not merely a slogan — it is your company’s DNA and reason for being,” Marshall wrote. “If you cannot summarize exactly what sets you apart in one or two sentences, you are not unique enough within your marketplace.”

In summary, you should make your business irresistable to new and existing clients by not only creating the USP but following through on it. Creating the elevator pitch is one facet, but implementation is also key to confirming it’s legitimacy to your clientele.

“There are only two types of aircraft – fighters and targets.” -Doyle ‘Wahoo’ Nicholson, USMC

Make sure you stay relevant by monitoring your market and competitors too. Many times I see businesses who launch a new business campaign as they think sales are down because of the economy or other factors, but the real truth is they never did their homework.

For example, Startup X arrived in the office block adjacent with a shiny new plan and team of gurus that were just given $20m funding to take your business model and make it theirs, including your prospects, clients and potentially kill your business.

The sooner you are aware of this fact, the more time you have to adapt and limit any potential losses to your business.

Here’s three USP examples from brands you’ll know;

Domino’s Pizza

You get fresh, hot pizza delivered to your door in 30 minutes or less or it’s free.

FedEx Corporation

When it absolutely, positively has to be there overnight.

Avis

We’re number two. We try harder.

If you have any comments or questions about USP or marketing, reach out and #SayHello

Feel free to #sayhello (@browserweb on twitter) or email me personally if you have any questions or comments.

Cheers

Mark Burke
Browserweb.com, a Digital Media Company