Creating Unique Selling Proposition : Making you A Winner
"Don't just say what you do well, show that you do differently." A unique Selling Proposition or Unique Selling point (USP) makes your business stand out from the competition. There are special characteristics and components of USPs, like being justified, focusing on uniqueness, providing more than what you say, etc. USPs have special importance and there are different types of USPS: Attribute-Based, Benefit Based, and Positioning Based. Examples Of Unique Selling Propositions- are Coca-Cola, Nike, Starbucks, FedEx, Canava, Domino's Pizza, IKEA, etc. Value Proposition is also an essential component that explains why a customer should choose a product or service and what a customer can expect from you. Examples Of Value Selling Propositions are Uber, Slack, Luxy Hair, Unbounce, Digit, Crazy Egg, etc. There are various steps to create a Value Selling Proposition and Unique Selling Proposition, after setting up these a business can flourish extremely well.
A Unique Selling Proposition or Unique Selling Point, also known as a USP, is one of the things that make your business stand out from the competition. This is a special advantage that distinguishes your company from others in your market. Creating a confident and conscious USP will help you focus on your marketing strategy and influence your messaging, branding, copywriting, and other marketing decisions.
Your USP should build on your strengths and the unique value of your brand or product to attract customers. Being "unique" is rarely a strong unique selling point. It is necessary to distinguish between several aspects that are important to your target audience. Otherwise, the message will be ineffective.
Characteristic Of Unique Selling Proposition:
1) Solid, but justified: Certain positions that push you to win over competitors' products are easier to remember than general ones, such as: "We sell quality products."
2) Focus on what your customers care about: "uniqueness" doesn't matter much if your target audience isn't actually interested in it.
3) More than just a slogan: A slogan is a way to communicate a USP, but it can also be implemented in other areas of your business, from returns policy to supply chain. You must be able to speak and walk.
Importance Of Unique Selling Proposition
1) USP converts features of a product to benefits that attract customers.
2) USP provides marketing and communication a base.
3) USP makes a product stand out from the crowd of other products which appeals to customers to buy that product.
Types of Unique Selling Propositions-
1) Attribute Based: Unique product attributes such as price, quantity, and/or quality give buyers multiple reasons to choose a product over the competition.
2) Benefit Based: Some products are more focused on providing specific benefits, while others are not.
3) Positioning Based: Positioning is the unique place that a brand occupies in the mind of the consumer. It can be a lifestyle, problem-solving, and/or need/desire/luxury.
Components Of Unique Selling Proposition:
1) Emotional advantage
2) Competitive advantage
4) Strong selling features
5) Main differences
Examples Of Unique Selling Propositions:
- Coca Cola
- The North Face
- Domino's Pizza
- Nike And many more are having unique selling points and hence are standing out of crowd.
Value Selling Proposition
A value proposition is a brief description that explains why a customer should choose a product or service. It is more than just a description of a product or service. The specific solutions your company offers and the value proposition your customers can expect from you.
Examples Of Value Selling Proposition:
How To Create Value Selling Proposition?
1. The Ideal Customer Definition describes your ideal client, you should be as specific as possible. Think about needs, wants, and ambitions, as well as demographics, behavior, and location. This can help you create a persona, a virtual profile of the client you want to reach.
2. Be accurate: It is important that your value proposition accurately describes how your product or service meets the needs of your customers.
3. Tailor Benefits To The Needs Of Customers: When you create your value proposition, you need to show how your offering will ease their pain and help them realize their ambitions.
4) It must be unique: The value proposition must demonstrate that it offers customers a unique advantage that competitors do not have.
5) Testing Your Value Proposition: You've researched your ideal customer, consider how your special and unique offer will ease their pain and help them achieve their goals, and structure your value proposition. Now is the time to make sure you achieve your goals with real clients.
How To Create Unique Selling Proposition?
1) List all potential differences between your brand and product. And it has to be specific. Breakthrough products and compelling marketing messages depend on accuracy. Solve the right problems and communicate those benefits in your own words.
2) Competitive research: Who are your competitors and what are their USPs? Look for niches that can showcase your brand in a different way. Items in the same category may be placed differently.
3) Tailor your most unique perspective to the needs of your audience. Are there unmet customer requirements? Are there any pain points that your competitors do not need to overcome?
4) Collect data and review the information you have learned and highlight the strongest USPs.
5) Think of a viable way to apply this to your business. With the right implementation, your unique selling proposition can be woven into various areas of your business, from brand names to return policy, to enhance your customer experience.
Unique Selling Proposition or Unique Selling point popularly known as USP makes a business or product stand out of the crowd by showcasing the uniqueness of a brand. Value Selling Proposition is also a very crucial part to increase sales by promoting values. A combination of these can lead to a very flourishing business.