Creating a USP for Your Business
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A unique selling proposition (USP) is a one sentence statement that summarizes what makes a product or service unique and valuable. Developing an effective USP involves writing down benefits that appeal to customers and solve their problems in a way competitors cannot. Good examples include Saddleback Leather's 100-year warranty on handmade bags or Dollar Shave Club's subscription razors for regular customers.
Creating a USP for Your Business
- 1. Unique Selling Proposition U S P
- 2. What is USP? Summary of what makes your service / product unique and valuable (the competition either cannot, or does not, offer) better (one thing that you do best)
- 6. USP Factors
- 7. Steps to Create USP For small businesses and primary owners, your personality is your best USP
- 8. Steps to Create USP Write and condense Appeal to your specific client Explain the problem you solve List distinctive benefits Identify what competitors can’t do Define your promise
- 9. Example USPs SADDLEBACK LEATHER: Epic handmade leather bags with a 100 year warranty KROCHET KIDS: Fashion products made by women in developing countries FARNHAM ST. BLOG: Go to bed smarter than you woke up DOLLAR SHAVE CLUB: Subscription razors for regular guys DOMINO’S PIZZA: Fresh hot pizza, delivered in 30 minutes or less, or it’s FREE TOMS: Get a pair, give a pair #oneforone BLUE STAR DONUTS: Donuts as art
- 10. Example Taglines o Multiply your Vyapar o Vast Vertical Volumes o For Apaar Vyapar o Apaar Vyapar Bazaar o Explore, Enlarge, Evolve
- 11. USP Advantages
- 12. Questions
- 13. J A MJust A Minute
- 14. You are What You Want to Be
- 15. Befit your audience Organize your thoughts (beginning, middle and end) Open with a bang Simplify language Tell only facts Employ power words Right tone JAM Guidelines
- 16. Questions
Editor's Notes
- #3: What products or services are you selling? Who is your target audience? What does your business do well? What is your most important customer-focused business goal?
- #5: Get noticed Customer: Why should I trust you?
- #7: Successful business ownership is not about having a unique product or service; it's about making your product stand out--even in a market filled with similar items.
- #8: Your personality alone can make a powerful difference.
- #9: Put yourself in your customer's shoes. Explore the intersection of ideas and combine things that you already know. Know your target audience well. Don’t try to appeal to everyone. When starting out, creating a USP might seem like you’ll be leaving out some potential customers. But when you try to please everybody, you end up pleasing no one. Being clear is another essential aspect.
- #12: Risk zone where you need to battle your competitor for positional advantage. You can go emotional. X Avoid what your competitor meets consumer needs better and you are likely to get crushed. Yes This is your winning zone. Your best features meet consumer needs. Make it bigger. Who Cares Many times, competitors battle in areas that consumers don’t care about. Just have fun.