As business owners, we know the importance of conveying value to our customers, but do we have a comprehensive understanding of why our customers should choose us over our competitors? Do we understand our target audience, their wants, and pain points so we can better cater our products/services to their needs? And do we leverage our unique strengths to help highlight our value for prospects?
If you’re looking for a way to turn those “no’s” into “yes!” then keep reading.
I’m sure you’ve heard of a unique selling proposition – this isn’t just fancy marketing jargon. This is your secret sauce!
If you’re not familiar with this terminology, this blog was created to help you understand what a unique selling proposition is, why it matters to you and your business and how to leverage your USP to increase the value of your business by beating out your competition.
What does “Unique Selling Proposition” mean?
It’s more than a slogan, promotional deal, or trendy gimmick.
A unique selling proposition (USP) is defined as “a summary focused on outlining what makes your business better than competitors and why target clients would find you valuable – It immediately answers the question, “What makes your business the better choice?”
Let’s unpack this a little more.
An effective unique selling proposition incorporates the following elements: differentiator, value, and a promise – to entice target clients during their decision-making process.
Why is a Unique Selling Proposition important?
1. Helps with decision-making/ customer analysis
If your target clients find your business via google search, then chances are they are going to be overwhelmed with options and while paid ads and SEO can certainly provide an advantage in terms of lead generation and where you rank in search, there are likely competitors that can get to your customers through the sheer fact that their budgets allow for their website to rank higher than yours (no that does not mean they are “better” than you).
Make a strong case. If you can make it easier for your prospect to choose you, then you gain the upper hand.
2. Distinguishes from the competition
Anyone can offer you free shipping, customer support, or a 20% discount. If anything – that’s common practice. Think: “what sets my business apart?” and “what can we do for customers that can’t easily be copied by the competition?”
You want your target clients to associate you with something that matters to them. For example, a mom might value time-savers and convenience, a businessman may hold a high value on a luxury lifestyle.
3. Establishes value / Authority
When you’re clear about the aspects of your business that are superior to your competition, then you begin to understand the ways in which you can leverage your unique strengths for greater profit.
If there are two ice cream shops, and one has established itself as “specializing in non-dairy ice cream alternatives” – the fact that they are catering to the niche of people with food allergies and dietary restrictions places them in the position to charge a premium for their product since not as many ice cream shops cater to this audience.
4. Can attract higher value customers
Clients that are looking for specialty, personalized, or niche products/services are often more willing to pay a little more to have their specifications met than their counterparts.
Clients that take the time to research something to meet a specific need already have the expectation that they will likely have to pay more to get exactly what they want, and so catering to a niche also gives you a way to provide that extra value to your customers.
For something simple like a pair of scissors, there is a lot of market saturation. People will probably do a search on Amazon and make a decision pretty quickly. The time a customer spends in the deliberation phase can be a good indicator of how much they are willing to invest to get what they want.
If I want to buy a new laptop, I am probably going to spend a good amount of time doing my research and comparing features. Because it is a higher-value product than a pair of scissors, I’m going to take more time to make sure I get what I’m looking for.
5. Provides clarity and guides decisions
If customers can clearly pinpoint what a company values most, then they can more easily determine if your business can help them solve a problem, satisfy a need, or improve their quality of life. You should consider these buying motives when crafting your unique selling proposition.
Clarity is also helpful to the business owner and those in charge of marketing strategy. Clarity allows for your messaging/branding to be really dialed in so that it can best appeal to your target audience.
Your unique selling proposition is something you should establish early on, in order to decide the most effective business model for fulfilling your marketing objectives.
How do you create your own Unique Selling Proposition?
1. Be clear/concise
Get to the point – FAST! You want something that will “hook” your ideal customer and entice them to consider purchasing your product/service.
I’m sure you wouldn’t be surprised to learn that the average attention span is around 8 seconds (comparable to that of a goldfish). If it takes longer than this to read and comprehend the intention behind your messaging, you may want to go and work on simplifying your USP.
Trust me, I like writing flowery prose too – but if your unique selling proposition is too long-winded, you might not be getting the most out of it.
2. Think in terms of your target audience, their wants, their pain points, etc. (niche)
Get in the mind of your customers. Think “how does what I’m selling help my customers to: A) solve a problem, B) satisfy a need, or C) improve their quality of life?”
The more of these buying motives your Unique Selling Proposition touches on, the more likely you are to land yourself a new customer and potentially even uncover a new niche!
Get ahead of the common complaints and rebuttals: “it’s too expensive” or “It’s not the right time” or even the classic: “what if it doesn’t work?” When you know what your customers want, and the things that could dissuade them from buying, then you can structure your Unique Selling Proposition in a way that highlights the benefits they are seeking, and assures them that your business is actively working to minimize that which may be cause for concern.
3. Research competition
Look to your niche neighbors for inspiration. What elements appeal to their audience and can be attributed to their success? How can you apply similar strategies in a way that aligns with the values of your business?
Your competition is a good indicator of where the bar is set, and when you know where the bar is set you have a better understanding of the areas you can add more value or improve upon so that you can beat out the competition.
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4. Memorable message
The product or service doesn’t need to be unique, but your message should be. Think outside the box. How can you take your unique perspective and use that to articulate the value of your product/service in a way that sparks the interest of your ideal customer?
What can you provide that your customers are wanting? Resources, loyalty incentives, personalization, accessibility, transparency, or a guarantee? Consider these elements and incorporate them when crafting your unique selling proposition.
Is the language you’re using enough to get your ideal customer to stop scrolling? If you want to grab someone’s attention avoid the overused: great, awesome, excellent, etc. Don’t be afraid to dust off that thesaurus if needed!
Answer The Public is a useful tool that allows you to see what associated searches are trending based on a word or phrase and filter results based on geographical location. The website offers visual images of searches related to your keyword/phrase and you can even download the data in a text-based format. Use this free resource to help you learn about your audience and generate ideas you can use to craft your unique selling proposition.
5. What makes you stand out? What are the benefits of your product or service?
Your business may not be the only of its kind but no one does what you do, quite how you do it. Unique those unique attributes to appeal to your ideal customers. Try to leverage the things that make your business unique, and that can’t be easily duplicated by your competitors.
6. Leverage it in your branding/messaging…Fully embody it!
Once you’ve created your unique selling proposition you have to utilize it! On your website, in your interactions with customers, in the WAY you run your business. There should be congruency between your USP and business practices.
People love proof, so don’t be shy about sharing testimonials, reviews, and success stories!
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Here are a few examples of a Unique Selling Proposition:
Saddleback leather – “They’ll fight over it when you’re dead.”
Death wish Coffee – “world’s strongest coffee”.
Tattly – Fake tattoos by real artists.
Grow Pro Agency – Partners In Marketing: Giving Business Owners the Freedom to do What They Love!
There you have it! Now you have everything you need to create a memorable Unique Selling Proposition that’s sure to get you noticed by your target audience!
If you liked this blog, then check out our blog on THE KEYS TO ESTABLISHING YOUR PERSONAL BRAND.
Have questions? Leave a comment or contact us: customersuccess@growproagency.com
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