Unique Selling Proposition (Unique Selling Point)
Let’s start with the basic question, what is a unique selling proposition? It is the factor or aspect of a product the producer highlights or claims to be special to make it stand out in the market. This concept of USP is crucial to any strong marketing plan. It represents what is your business all about and how does your product serve the target audience better than the other competitors do. In today’s globalised market it is very important for a firm to create a successful USP in order to gain competitive advantage over the many close substitutes available.
Now the next most obvious question, how to create an effective unique selling proposition or point? There are few basic steps in doing so. First and the foremost are to understand your target segment as thoroughly as possible. The importance of this cannot be emphasized enough because eventually it’s them who have to make a choice whether it is enough to catch their attention or not. Once you have done that then explain to yourself the way in which your product solves customers’ problems no one else does. You have to believe it yourself first, if you don’t neither will your audience. Then comes the part of listing those features that stand out and would be constructive for whatever use the customer needs them for more than other substitutes in the market for your target audience. A small tip that might help you with this is that always think from a customer's point of view, you may see the difference this weaknesses. After you have done this than define the promise you will make your customers which your product will ensure, this part of your USP can have a huge impact as customers may feel more secure. After all these steps pull all this information into a summary and then trim it down to a single sentence that describes it all the best, the more specific the better attention it is likely to catch.
Working effectively on creating a USP will work wonders for a business.