The unique selling point, or USP, is a concept developed as a result of an extensive market research on successful advertising campaigns conducted in the early 1940’s. Ad campaigns that followed this USP pattern tended to produce a high usage pull.
The marketing and research group, Ted Bates & Company, defines the USP with the following three statements:
- Each advertisement must make a proposition to the customer: “buy this product, and you will get this specific benefit.”
- The proposition itself must be unique - something that competitors do not, or will not, offer.
- The proposition must be strong enough to pull new customers to the product.
Your USP can be a powerful force that drives your business. It can also be used as a “branding” tool that deploys strategy with every tactical marketing effort you use - such as a brochures, business cards, ads, direct mail, or web sites. This allows you to build a lasting reputation while you’re making sales. The ultimate goal of your USP and marketing is to have people say to you... “Oh, yes I’ve heard of you. You’re the company who...” - And then respond by requesting more information or making a purchase.
There are three things that a USP must be in order to be successful.
- Descriptive. A strong USP will be descriptive. It will tell the customer exactly what your product or company does differently or better than the competition.
- Clear. A strong USP will leave no fog in a customer’s mind regarding exactly how he will benefit from using your product or service.
- Short. A strong USP will be short and to the point. There’s no need, or rather, no room for a long, drawn out explanation in the USP. This is the place to be brief.
Okay, now that we have the history and anatomy of a USP established, lets put that knowledge to work creating marketing campaigns and advertisements focused on how your company can benefit your customers, unlike anyone else. Once you have a strong USP in place building all of your advertising and marketing, around it creates pinpoint accuracy when communicating with your target market.
How to create a strong USP.
Determining your company’s USP isn’t, nor should it be, a quick, simple thing. It will take a lot of thought and research. But it will be well worth it. Below are 3 simplified steps that may prove helpful in determining your USP.
1. Features and Benefits
Divide a sheet of paper into two columns. In the left hand column list all your product’s, or business features. In the right hand column list the benefits of each feature.
A feature is something a product has (such as anti lock breaks or free delivery). A benefit, is how that feature is important to your customer. How does it improve your customer’s life? Does it make things simpler? More enjoyable? Save time? Think of the customer saying “So what?” when you list each feature: Anti lock breaks “So what?” So when you urgently stop in order to avoid hitting a stray puppy, you are more likely to not traumatize little Susie sitting in the back seat.
2. Identify your competitions USP
Lets do a bit of research on your competition now. Find out what the USP is for each of your competitors. Find out all you can about what features and benefits your competitor’s products offer. It is also helpful to know what your competitor is doing well.
3. Contact customers and clients
This can be one of the most informative ways of building your USP. Past and current customers or clients will tend to tell you exactly what they did or did not like about your product or service. Question them about ways their lives were benefited by the product rather than simply what features they liked. Don ’t be afraid to ask specific questions and dig a little deeper in order to extract the information you need. There is no shame in asking your customer for a quotable testimonial. Not only will this be helpful in formulating your USP, but testimonials are wonderful tools to use in promotional material, especially if they support your USP. |
