Steps to Determining Your USP

Steps to Determining Your USP

Unique Selling Proposition Color Fire

Determining a unique selling proposition is tricky for every business. But it’s very important to have to ensure your businesses’ success.

Before you begin to sell your product or service to anyone else, you have to sell yourself on it. This is especially important when your product or service is similar to those around you. The key to selling your business is what marketers call a unique selling proposition or USP. It’s what makes your business stand out from the crowd and tells your customers what is special about you. Pinpointing your uniqueness can require some hard soul-searching and creativity. Here are a few steps for determining your USP.

1. Understand Your Target Audience

The first step to determining your USP to find your target audience. Developing a USP beings with your target audience. What do you know about your target audience and why do they purchase items from the market you are operating in? For example, are they looking for a time saving, some expertise, a trustworthy supplier or something else? In addition, create a list of the features and benefits that are unique about your product or service. We suggest that you compare your features and benefits with your direct competitors. The purpose of this step is to identify the benefits of what sets you apart. By consulting customers, colleagues and friends you should be able to make a list of all the reasons why someone might choose to buy your product or service.

2. Your Competitive Advantage

After brainstorming, you should be able to pull one or two things that you believe your organization is really good at. Make a list of your competitors and see which needs they are meeting. Then evaluated how well they meet those needs on a scale of 1-5. Remember, the price is never the only reason people buy. If your competition is beating you on pricing because they are larger, you have to find another sales feature that addresses the customer’s needs, then build your sales and promotional efforts around that feature.

3. Reevaluate

Teammates Collaberating

Work with your colleagues, friends, and family to help you determine your USP.

In the beginning, why we think customers like us and why they actually do can be two completely different realities. It is important to uncover the real reasons customers buy your product instead of a competitor’s. As your business grows, you’ll be able to ask your best source of information: your customers. Use your resources, like social and email, to reach out to your clients and get their opinions. You will be surprised how honest people are when you ask how you can improve your service. And always take a loss of displeased customer as an opportunity to grow and learn.

4. Communicating Your USP

Your USP should be driving the development of your company and your marketing strategy. Whether you are creating a website, a logo or an embarking on an online advertising campaign. Always ask yourself if your image and activity clearly communicates the benefits that you are offering. It’s not advisable to change your USP too often but it is important to keep it fresh. Watch out for any shifts in trends or competitors that cause consumers to view you and your USP differently.

Don’t get discouraged in determining your USP. Successful business ownership is not about having a unique product or service. It’s about making your product stand out – even in a market filled with similar terms.

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