What makes your business different from other businesses and what makes your business superior, attractive and worth buying for customers? If you haven’t been able to answer these two questions, maybe you need to study Unique Selling Points (USP) first. A unique selling point (USP), also known as a unique selling proposition, is a unique property of a product, service or branded item, which is associated with an advantage over the competition. A unique selling point can be a product’s or service’s features, special technical characteristics, innovation, unique design etc. Unique selling points are typically used as the basis of marketing campaigns. USP refers to selling points that are different and superior to competitors. USP not only helps you differentiate from a competitor, but creates an identity for yourself.
What does USP mean?
A unique selling point is defined as a differentiator for a company from the rest of the market. It sets you apart from competitors and helps explain what makes your product/service special. The most crucial point in the definition of a USP is that it gives a reason for someone to use your product. The term unique selling proposition (USP), was introduced into marketing theory and practice in 1940 by Rosser Reeves as a unique “sales promise” in the context of product and service advertising. According to , this unique selling promise should distinguish the benefit of the marketed product from the products of the competitors. This alleged or actual benefit usually refers to a specific property that other products do not have or do not claim to have.
USP for startup or even small business
A startup is essentially a large corporation in its early stages. From the initial days, a startup focuses on scale and growth. A small business, however, is focused on problem-solving. Your business scale usually indicates how your USP can be defined. While writing your USP for a small business, you compare it with your primary market. This is generally focussed on solutions immediately available. However, a unique selling point for a startup will be in comparison with large competitors in the market.
How tp write your USP?
To get started, try to understand your product or service, study customers’ motivation and purchasing power, determine your position in customers’ eyes, and find USP competitors, execution and consistency. A USP is about how you do business. The Unique selling point definition considers your solution and service instead of a product or feature alone. Make sure it is simple and easy to understand. Don’t expect the customer to speak your language. Your USP must be easy to understand and remember. It differentiates you from the rest of the competitors. While writing your USP :
- Think about your customer and speak their language
- Understand which part of the user’s life you’re helping and speak about that
- Don’t list your features
- A USP must be a single statement rather than a huge paragraph
Why is USP important?
USP can form a perception or branding that arises because of the customer’s experience consuming your product. By having a USP, you can create a memorable perception in customers’ minds. Besides branding, USP is also able to increase your business sales. This is because a unique selling point can increase product awareness and attract new customers to at least try your product once. Can strengthen your position in the competition. Even if your scope of the competition is small, it’s probably your product that will take the top spot. If the business has been running long enough and no other products can compete with your USP, then you can get loyal customers. These loyal customers can also do word-of-mouth with other potential customers so your business can grow.
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