How To Craft A Powerful Unique Selling Point (USP)

What makes you unique?

When we first start in business, one of the questions many business owners overlook is “What makes us unique?” In such a competitive marketplace, standing out from the crowd is crucial for building a successful business. In this article, we help you understand the importance of having a powerful USP, or unique selling point, and incorporate it into your business plan.

Understanding your USP

So, what exactly is a USP? In essence, a USP is the key factor that sets your business apart from the competition, allowing you to rise above the crowd in a saturated marketplace. It's the ace up your sleeve that makes selling your product or service a whole lot easier.

When we delve into the realm of USPs, we find that there are three primary pillars to consider: price, convenience, and service. While all three have their place, creating a strong USP requires a deep understanding of your customers and what they demand from the market.

Customer-Centric Approach

To pinpoint your USP, let’s start by addressing those three pillars and asking yourself which out of those three would make the biggest difference to your customer’s experience in your industry and what could you do differently to alleviate these pain points. Is it offering a better price, enhancing convenience, or elevating your level of service? 

To help pinpoint which you should focus on in your business, let’s take a look at a very famous example: McDonald’s. While many may initially associate their USP with affordability due to their low prices, the reality is that you could buy similar products at a lower cost in a supermarket and make it yourself at home. McDonald's has strategically focused on convenience, revolutionising the fast-food industry with the speed and convenience of how you, the customer, consumes their product. They have made themselves more convenient through methods such as the self-service kiosks in most of their locations, drive-thru services and food delivery apps so you don’t even have to leave the comfort of your own home. 

If you’re still unsure as to which of these three pillars your business should be focusing on, there’s an easy solution: ask your customers! There are many places online where you can create a digital survey to send to your current customers to receive instant feedback as to why they chose you rather than any of your competitors. Once you have these answers, sort them into those three categories: price, convenience, or service.

Strategic Planning

As a business owner, it's crucial to plan your activities on a quarterly basis based on your long-term plan for your business. During this quarterly planning phase, consider how you can further develop your USP. If you've chosen convenience as your differentiator, start by asking yourself how you can become even more convenient over the next 90 days. For instance, one of our clients introduced a live chat function on their website to enhance convenience for their customers so they could have their questions answered instantly. By consistently implementing small changes that make life easier for your customers, you can gradually refine and amplify your USP, setting yourself apart from the competition.

Your USP is a potent tool that can elevate your business to new heights. Whether it's price, convenience, or service, understanding your customers and continuously improving your offering within your chosen pillar will not only make you stand out but also drive success in today's competitive marketplace. So, are you ready to harness the power of your USP and transform your business?

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