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5 Steps For Developing A Strong Unique Selling Proposition – 234Finance

5 Steps For Developing A Strong Unique Selling Proposition

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The internet has made it easier for consumers to have information at their fingertips. They get all the information they need to make a purchase at the tap of a button. Identifying your USP increases your chances of being chosen by consumers. How?

Your USP – Unique Selling Point or Unique Selling Proposition is what makes your brand stand out and sets you apart from your competitors. In other words, it is what your brand is known for; what will make them choose you over your competitors. If your USP is well communicated, it makes it easier for consumers to understand what your business is about. To develop a USP, you will require proper understanding of your target market, your competitors and the industry your business belongs to.

Here are some steps for creating a strong USP:

  • Define Your Target Audience

You need to know the people you are trying to reach with your products or services. You can start this by creating a buyer persona based on your industry and product. A buyer persona is a visual representation of what your ideal customer looks like. Demographic information like age, gender, level of education, marital status and income should be outlined in your buyer persona. You can access this information by using data from market reports and analytics software.

Additionally, you should do research on psychographic information of your ideal customer. This includes their personality, values, lifestyle, interests and attitudes. This is very important as it answers the basic question of “what motivates them to choose your brand”.

Unlike demographic information, psychographic information is not easy to obtain. You need to carry out surveys and interview prospects to get accurate information. Defining your audience is a crucial step in discovering your USP. It helps you discover the best ways to make your products appealing to your target audience, rather than following up on leads who are not interested in what you are offering.

  • Identify Your Value Proposition

After figuring out who your ideal customers are and how they are likely to behave, the next step is to find out how you are impacting their lives. You could either add value to their lives or help them solve a problem.

If you own a natural skin care brand for example, you can win clients over by highlighting the ingredients used to create the product. Alternatively, you can advise your prospects on the dangers of having chemicals in their skincare products and round it up by offering your products as a solution to this problem.

Everyone wants a better quality of life. Your USP should communicate to your audience how your brand helps them achieve that.

  • Analyze Your Competitive Advantage

What do you do best as a business? You can draw up a list of what you believe is your competitive advantage. The  next step is to strike out what your competitors are already doing. This process allows you to evaluate your solution and figure out what sets you apart. Remember that a USP has to be unique. More importantly, your USP must add value to your consumers.

Your competitive advantage should answer the question of what motivates people to buy from you. Another way to find this out is by carrying out surveys and asking your consumers what they love about your brand and what sets your brand apart.

  • Evaluate Your Industry Trends

Your USP is more than just a statement. It is a pledge you are making to your clients and you have to fulfill this pledge every time they interact with your brand. This is why you must research about your industry and know what is trending. This would ensure that the gap you are trying to fill with your brand really does exist.

  • Communicate Your USP Clearly

Try to pick out the essentials of the steps above and merge it into a clear, concise message. The message is your USP. You can print it out and frame it on a wall in your office or share it with your employees. Your USP should appear everywhere your brand is mentioned. Elements of it should be communicated in your call to action and advert campaigns both online and offline.

Creating a strong USP is easy as long as you understand your buyers and earn their loyalty.

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Images from Pixabay

Author: 234 Finance

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