How to find the USP of your business
Figure out what makes your business stand out
by Ayesha Siddiqa on 12/10/2017
Having great products might not guarantee the success of your business. Customers have thousands of options to choose from when they are shopping. The competition for any category, both offline and online is very fierce. Therefore, differentiating and marketing your unique selling proposition (USP) might help you gain a strong position in the market. Listed below are a few tips on how to determine the USP for enhancing your business and help it scale new heights:
Determine aspects of your business that are unique:
Every business has something unique to offer. This can be anything from great service, low prices to quality products. Compare the most important features of your business with that of your top competitors to understand the differentiating factors. Use this comparison to pinpoint a strength that your competitor may not have. If unable to determine strength, you could see where your competitor is lagging and offer the customer that service, if it makes sense to the business. This will help you position your brand on a stronger base in the market.
Understand your customers and their needs:
The most important thing to consider while trying to figure out the USP of your business is what the customers are actually looking for. Regardless of the product you sell, you have to recognise the requirements of your target customers and the features or services that are important enough for them to affect their buying choice. Once you determine this, you can build your USP around the customer’s requirement.
Enlist the features of your products:
List down all the salient features of your products and pay close attention to those that are unique to your products. These should ideally be features that cannot be replicated or copied by your competitors very easily. These features can form the core of your USP and you can build your strengths around them. This will help you get noticed among customers, which may, in turn, improve your sales.
Monitor ongoing market trends:
While your USP can remain the same throughout the lifetime of your business, you need to find innovative ways to communicate it to the customers. Additionally, with the ever-changing market trends, it makes sense to reassess the USP periodically. Understanding the latest developments in the market can help you prepare for any changes such as updated versions or newer competitors and help alter your strategy accordingly.
Every business should have a unique selling proposition and the business owners should be able to deliver on them as promised. This will give you an edge over your competitors, which may boost your business in the long run. Have a business idea? Why not explore the online selling
route for it? Just become an online seller on Amazon
and find your USP while catering to crores of customers every day.