Three steps to develop your USP
A Unique Selling Point, or commonly referred to as a business’ ‘USP’, is absolutely crucial for businesses that want to survive the fierce competition that currently exists, and which is constantly evolving. Effectively, this means that businesses need to come up with clever and unique marketing strategies which communicate the selling point of the business in a way which grabs a potential customer’s attention.
- What services do you offer and will they attract customers?
The key to coming up with a USP is to think about the services that you currently offer and assess whether you are providing something which attracts customers to your business. This could include everything from a super-fast delivery service or very competitively priced products which puts you ahead of other similar products – customers will always look for something that is cheaper but which still retains the quality that they would expect.
One innovative way to entice customers to your business or your product, is to focus on why you are selling a particular product, as opposed to ‘what’ your business is doing. There could be a story behind why you are selling a product and this really can help to get customers on board because it shows a human side, rather than a hard sell.
- Why will people want to do business with you?
Simon Senek is a best-selling author who decided to investigate why Apple was so successful as a brand and a business and his conclusion was that Apple looked at the ‘why’ rather than the ‘what’. It’s testament that this particular strategy does work. For example, they reach out to customers with statements such as ‘we aim to change the status quo’ or ‘we think differently’. This really grabs the attention of customers because it channels a message that the company is innovative and does think differently. From a consumer’s point of view, that can be quite refreshing in a market which is saturated with businesses vying for the attention of customers.
The trick is to use the above as an example and channel it through your own business – find a message which is unique and which focusses on the ‘why’. If you develop a good marketing strategy which can communicate this message effectively, the message will start to reach a global audience.
- How will you communicate with your customers?
Without a good communication strategy, adopting this approach would be fairly worthless – this is why it is crucial to develop your USP and market the message as effectively as possible. Apple’s success is proof that this method does work – businesses that focus on ‘what’ will find that ultimately, their strategy will fail. There have been several instances of this and this was amply demonstrated by Simon Senek when he thoroughly researched his best-selling book.
A USP really is fundamental to the core of any business and without one, the business is unlikely to survive in a world which seems to have fierce competition from all corners. So, in summary, be clear about the services you offer and how they will attract customers, illustrate why people should do business with you and then determine how you will communicate your message to your clients. If you can successfully navigate these three steps, you will develop your USP.
Want to stay competitive and ensure that your USP is understood? Give us a call at Morgan Reach and we’ll show you how you can get a head start.
Three steps to develop your USP
DISCLAIMER: This article is for guidance only, and professional advice should be obtained before acting on any information contained herein. Morgan Reach Chartered Certified Accountants cannot accept any responsibility for loss occasioned to any person as a result of action taken or refrained from in consequence of the content of this article.
Three steps to develop your USP
