When you ought to buy any electronic or daily use product, you go to the market and see that there’s a flood of options to choose from.
What you want to get is an electronic machine that can make your work easier with efficiency but what you have to chose from has more than the basics to offer.
Each company is offering a special or distinct feature along with the basic functions that the machine can do. These special features that the companies offer to make themselves or their product stand out from the others in the market space are the USP or Unique Selling Points.
The USP is an essential part of your business plan because without have one you are just a part of the crowd which people do not want to know about. For a business to run, you obviously need your product or services to be recognized by your customers and that recognition can come with a brilliant USP idea that you can inculcate in your plan.
You’ll find ample examples of how unique and creative a company can craft itself for coming up with the best USP for their product. Take, for example, one of the largest pizza franchise dominos who’s USP is something we all love.
It’s ‘You get fresh, hot pizza delivered to your door in 30 minutes or less or it’s free.’ Well, who wouldn’t drool for that, right?
First, you get the best services surety that you will get an oven hot pizza at your doorstep so that you can enjoy the most of it and even if you don’t get it within 30 minutes then you get the whole pizza for free! It’s a masterpiece in creating USP.
Another example can be drawn from P&G who claims that for each purchase that you make from any P&G product (which have a wide plethora) in India, they will donate some part for the money to build a school in the unprivileged part of the country.
This not only made people attract more towards buying their products but also made the company a big example of committing social responsibilities which all together boosted their business as well.
There are many more examples of amazing USP ideas from many leading companies like selling ‘especially handcrafted’ product, making ‘eco-friendly’ products, products that can be exchanged for the new one, and so on.
For every business, whether big or small, it has become a necessity to define your product distinctively from the other ones. Here are some tips and tricks for you to keep in mind while you’re designing your business’s USP:
1. Know Your Product inside Out
Likewise, it can also be the way that you are selling it, example some shake manufactures sell their shakes in a fancy and irresistible bottle which can also be used by the consumer after they have finished the drink.
Explore your product and pin down the things which can be experimented with.
2. Know Your Customer
Your product can be a specific thing which is just used or consumed by a definite population or it can be something that is used by everyone around the world.
Obviously, you are aware of your customer and the market cap but you need to know something. more than that. Put yourself in your customer’s shoe and think from their perspective.
Sometimes to outstand a product, the team develops a USP which is just irrelevant and of no good use for the customer.
While designing your USP, you should know if it’s really going to benefit your consumer or not, what is the one different thing that a customer can want from a mundane product.
What will motivate them to buy the product, why is your product better and different from your competitors?
if you’re putting extra money to produce a USP than is that going to give you a good ROI? However, it’s not at all necessary to put extra money to create a USP. Remember, you have to know about your product and how you can experiment with it.
3. Keep up With the Trends
It’s equally important that your USP is perfectly aligned with the current trends going on in the market and what are the latest expectations that the public can have from a product.
Brownie points for you if you create something new which was not imagined by the consumer itself. For example, if you have an app which delivers medicines than you can also think of something like delivering a medical aid for emergency events.
An example can be taken from one of the leading Cab services app ‘Uber’. It does not only offer its customer cab services but has also introduced food delivery services as online food delivering has become one of a trend in itself.
4. New or Better
5. Study the Market
These market gaps will give you an idea about USP while also assuring that it is a total hit. Also, if you have already found your perfect USP than take an overlook about its future prospectus.
Is it going to convey a positive message about your product? Is it going to impact your business’s identity and image? Is it going to be accepted by the people and so on?
6. Reflect Yourselves
Your Unique selling proposition can be a reflection of what you and your business believe in, what are its values and what is its aim as a company?
For example, if you are selling a drink that is usually believed to or actually contains some ingredients which are unhealthy.
Most of the times, such ingredients are just added to better flavours but are not necessary to be included.
Obviously, there is a profit margin to be considered but you have to make your consumers believe (and also abide by the same) that you are more concerned about their health.
Reflecting good thoughts and values can attract a large chunk of your customers when every business today is believed to have become a mere profit-making machine.
7. Re-Evaluation of Your USP
It’s understood that what seems rare today may become a trend tomorrow. So, your USP also has to change with the demands and the situations.
Many leading companies which used to promise something a year ago has changed their promises today. This does not necessarily mean that they were unable to fulfil their promises but it means that they have fulfilled the older promise and have now come up with the new one.
There can be many reasons for it, the competitor company may have adopted the same scheme, the market may have changed, the customer’s demands may have changed or you might just have something better and more fulfilling to offer.
Changing your USP timely will ensure your presence to be felt in the market. Moreover, it does not essentially mean that you only re-evaluate your USP when it’s not working out.
You can even come with something better than the existing one while not eliminating the older USP. That way, your business becomes even more special and distinct from the other ones.
8. Your USP, Your Marketing
You should always remember that your USP is going to become your biggest marketing support.
Without a USP, you will only be throwing random baits to the public that may or may not attract them but if you have an attractive USP than there’s no way that it can go unattended by your customer. .
For all the aforementioned things to work, you need good research and powerful and frequent brainstorming session.
Even if you think you have got your moment of Eureka, write it down and keep looking for more options till the time you are completely done with all the possibilities. Remember that your job is not only to create a USP for your business but also to fulfill the promise that you have delivered.