A unique selling proposition that defines your company’s distinct position in the market is crucial to establishing pricing effectiveness that business customers truly appreciate.
A distinctive selling point allows you to differentiate yourself from your competitors. You can also invest your time and energy in creating items tailored to your ideal type of client.
A unique selling point, even one that disqualifies some potential customers, is an advantage in the marketplace that lets you avoid the temptation of trying to make everyone happy.
Table of Content
- 1 What is a unique selling proposition?
- 2 3 Types of Unique Selling Propositions That Differentiate a Business from its competitors
- 3 Finding Unique Selling Proposition for your ecommerce business
- 4 How to Use Your Unique Selling Proposition in Advertising
- 5 Example of Brands using unique selling proposition
What is a unique selling proposition?
A unique selling point, also known as a USP, is the only factor that makes your company superior to the rest of the competitors companies in the market. It’s a distinct advantage that helps your company stand out from the other businesses that compete in your field.
Creating an opinionated and well-thought-out USP will help you define your marketing strategies and influence the messaging, branding, copywriting, and other decisions in marketing. In the end, the USP must be able to answer the most urgent inquiry when they first encounter your company’s brand:
“What makes you different from the competition?”
Your USP draws on what you are good at and must be built around the factors that make your brand or product unique to your clients. The fact that you are “unique” is rarely a powerful USP by itself. It is important to differentiate something your public is interested in, or your marketing won’t be as effective.
3 Types of Unique Selling Propositions That Differentiate a Business from its competitors
Businesses are keen to promote their services or products as the most effective option for everyone. However, most offerings are classified into three categories. It is important to note that businesses aren’t restricted to only one of these categories, although it is difficult to effectively convey multiple propositions simultaneously.
Every type of offer is designed to provide a unique value, and what clients are interested in should determine the type of propositions a business focuses on. Again, a buyer persona helps identify which types of propositions are successful.
It establishes the company’s position as the supplier of a product or service superior to the one they offer their competition. For instance, a business selling rare books could differentiate itself by offering distinctive, highly sought-after items that aren’t available elsewhere.
Cost plays an important role in all buying decisions. However, it’s often the main selling factor when trying to sell to shoppers looking for a comparison. Prices-based offerings don’t devalue their value but focus on the value. This is appealing to those who want reasons to save money.
Customers are seeking security and peace of mind when they purchase. While the product and price have a part to play, what stands out to their customers is the reliability of customer support. This includes returns policies and technical assistance lines, a wealth of web-based resources, or any combination. A support-based offering is an assurance that, whatever occurs, the customer will be well taken care of. Support is crucial for businesses that have an ongoing relationship with their clients, like those that offer subscription services.
Finding Unique Selling Proposition for your ecommerce business
The toughest part of developing the most effective USP is determining the key selling point that you want to concentrate on. What is it about the product or service you offer, or how will you promote to your target audience? How will you create a distinct brand from other companies?
Identify Your Target Audience
Your unique selling point is down to you. If you steal a distinctive selling point from another business, it’s no longer unique and won’t serve the purpose of your business. Begin by determining your target customers – develop personas for your customers to get an idea of who will likely purchase your product. Define the age range of your target audience, their gender, and your ideal client’s preferences. Discuss what they want from your product, and then understand what it does to help them. Imagine yourself in the customer’s shoes to gain a better understanding of them, and then use this knowledge to develop your unique selling proposition that appeals to them.
In the next step, you’ll have to identify a specialization. You may think you’re narrowing your customers by focusing on a particular area; however, research shows quite the opposite. Limiting your services or goods to a particular area will draw more customers.
Your specialization will depend on the product you’re selling. If you’re selling sports equipment, concentrate on sports. If you’re selling clothing, concentrate on a particular type of clothing. As you progress, it is possible to expand, but being specific early can help you connect with your customers more effectively and allow you to compete with fewer companies.
Then, consider some ideas that could be a good fit to develop a unique item or service. LinkedIn is an excellent example of how they can bring social media and business together. Through LinkedIn, users can find employment or employees, upload their resumes, and post interesting content. LinkedIn is essentially Facebook and Upwork to create one amazing, extremely popular social networking platform.
Identify an exact need that hasn’t been fulfilled through your products. In the case of LinkedIn, the founder observed that social networking platforms such as Facebook and Twitter did not have enough emphasis on business. Consider the needs of potential clients, and consider ways to address many problems using the same solution or service.
Know Your Audience
If you’re developing your distinctive selling proposition, It’s essential to remember that your product isn’t for every person. You will never come up with an item that appeals to everyone within your area; therefore, don’t waste your time trying to achieve that. There will always be people who dislike your idea and those who prefer your competition. Instead, concentrate on the people interested in your product and do all you can to reach the people you want to appeal to. If the people you want to reach are opting to choose your business over rivals, then your unique selling point is working.
Keep Natural Strengths in Mind
The first step is to think about your strengths. For example, if you believe that you are the core of your company, Your business may have the same strengths as you possess personally.
Think about the field your business is operating in. As we mentioned, thinking about this involves considering your ideal customer and your target market. What is the industry norm, and how can you flip the tables?
You can now consider your company as one unit. Which of these three types of distinctive selling points do you believe you could create the most effective with your company’s offerings and products?
Be Unique, But Not Too Unique
Also, you should avoid products that have a unique USP. You wish to make your business be noticed; however, selling products that don’t serve a need isn’t the method to take. It doesn’t matter what your products’ uniqueness is in the event they do not serve a valid reason. The idea of carpet for your ceiling will be difficult to get off the ground since there’s no need for such a product. Be distinctive, but remain intelligent. Be logical – make sure you sell things people want rather than products that make people think, “Why does this exist?”
How to Use Your Unique Selling Proposition in Advertising
After you’ve written down your USP and simplified it into an elevator pitch, What can you do to incorporate this in PPC ads? Utilizing the information above to the rules of creating killer advertisements.
It’s crucial to ensure that the USP is clearly displayed in your copy. The best place to highlight it is in the headline or on the first line of your advertisement. If you decide to include the details of your USP within the title, ensure that it’s keyword-rich. If you include it in other places in your advertising copy, ensure that it highlights the product’s advantages. A lot of advertisers cannot resist the urge to gush about the features of their product before focusing on the benefits for their customers; however, this is a mistake made by many. Highlighting the advantages of your product puts more emphasis on the emotional value and appeals to potential customers in their desire to solve their issues.
Safety was the main advantage of this ad, but what about choices or expertise? You can create additional ads that focus on the range of your inventory or the specific knowledge of your employees in both copy and text in your ad.
If you decide to integrate your USP in your PPC advertisements, you must be certain to focus on one specific need in each advertisement. The attempt to address all of your potential customers’ issues within a single advertisement will weaken its effectiveness and result in fewer sales.
Example of Brands using unique selling proposition
The web-based graphic design platform Canva offers one of the SaaS industry’s top Unique Selling Proposition examples. Its primary focus is simplifying the process of designing graphics to allow anyone to design stunningly without relying on the limits of expensive and complicated design software such as Adobe Photoshop and Illustrator.
2.FedEx: “When it absolutely, positively has to be there overnight.”
FedEx utilized this famous USP between 1978 and 1983. The USP was taught at business school for decades afterward.
The main purpose of FedEx is to get packages from one location to another quickly and efficiently. The company clearly states this within its USP.
This repetition “absolutely and positively ” subtlely brings attention to the reality that FedEx recognizes the importance of shipping overnight to serve their customer. Therefore, they promise to fulfill their promise.
The company’s vision is sustainable development for the planet, which includes “Refresh the world.” The company is focusing on the “Make a difference “Make a difference” part to encourage customers to buy the products that will make a difference, becoming part of sustainability.