Tuesday, 10 January 2017
What is U.S.P?
A unique selling proposition or otherwise known as USP (unique selling point), is a factor that a business has that makes it different and or better than others out there. It makes a business stand out from the rest in a market. The importance of having a unique selling point is obviously to stand out from the crowd and be different; however it’s not always easy to do so when new ideas and products are coming out all the time. 
The main thing is to find a space in the market, make sure it's going to be something that can stand out on its own first, and make sure it’s something possible customers need. The sellers also need to try selling it to themselves, this is so they know they are passionate about that business and confident it can succeed. The seller needs a key point to use when trying to sell their product or service, and coming up with it prior to selling will benefit. Having a point of difference to stand out is a major benefit in the markets; customers will be drawn to the business as it offers something no one else has. Every product/services have its U.S.P and it is the work of advertising agency to high light that.
Here are five steps to determine your USP –
1. List the features or benefits which are unique for your products
Do a Google search and compare your feature and benefits with your direct competitors. Identify the benefits what sets you apart.
2. Decide what emotional need is being specifically met by your product or service
Put a star beside anything that cannot be easily duplicated, reproduced or copied.
3. Create phrases about your unique product or service that are short , clear, and concise
Use the words from step 1-3 that you singled out. Be sure they can be easily communicated to and understood by your customers.
4. Answering your customer’s primary question : “What’s in it for me?
Make it to the point and state it as a benefit to the customer. Such as –
· Domino’s Pizza – “You get fresh , hot pizza delivered to your door in 30 minutes or less..or else it is free “
· Target – “Expect more .Pay less.”
· U.S Peace Corp – “The toughest job you will ever love. “
· M&M’s – “Melts in your mind, not in your hand.”
· Fedex – “When your package absolutely, positively has to get there overnight .”