If you're like most new business start-ups, you don't want to waste money on expensive marketing campaigns. What you do want is a unique selling position. And quick.
One of my clients is struggling to find her unique selling point. She wants to get her business up and running quickly, but she hasn't found that aspect that differentiates it from other similar businesses. She needs to determine her unique selling point (USP), and isn't sure how to go about it.
Many new business owners don't know how to determine their unique selling point. Either that or they're suffering from the results of not having one. They're getting lost in the crowd and dying a slow death because they aren't able to attract enough customers to support their business.
Stop getting lost in the crowd. Here are the steps my client took to determine her unique selling point. Here are five steps to determine your USP.
1. List the features and benefits that are unique about your product or service.
Do a Google search and compare your features 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.
Think about this from your customer's perspective and add it to your list.
3. Identify aspects of your product or service that your competitors cannot imitate.
Put a star beside anything that cannot be easily duplicated, reproduced, or copied.
4. Create phrases about your unique product or service that are short, clear, and concise.
Use the words from steps 1-3 that you singled out. Be sure they can be easily communicated to and understood by your customers.
5. 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 it's free."
- Target: "Expect more. Pay less."
- U.S. Peace Corp: "The toughest job you'll ever love."
- M&M's: "Melts in your mouth, not in your hand."
- FedEx: "When your package absolutely, positively has to get there overnight."
What's your unique selling point? Stop putting your business at risk. Put an end to getting lost in the crowd. Gain the advantage as a new business start-up by standing out in the mind of your customers. Discover your USP today.