Your Unique Selling Proposition (USP) – Where Do You Stand in Business
Apr 13th, 2010 Posted in 2010-4 | 2 comments »
Your USP is your product or service’s most powerful benefit along with your strongest unique aspect of your business. Rosser Reeves was the author of the phrase, “unique selling proposition,” or USP, which is a unique message about itself versus the competition that each business or brand should develop and use consistently in its advertising and promotion. Your USP is that component in your business that makes you different from, and therefore, seemingly superior to your competitors. It is what makes your product or service different and more valuable to potential clients, and it is the main reason they will choose you over your competitors. Your USP is basically your sales message summarized in one concise statement. It is a tool for positioning your business in the minds of your prospects and customers.
Business
Without it, you’re just another company in the business market. Would you believe only 5% of the businesses develop one. It’s a major reason why many businesses fail or never reach their full potential. Creating one will help your business rise above and set you apart from your competition. In a recession, every small business is in the customer service business, it’s when customer service counts the most. So, if a small business keeps in contact with their leads, they will most likely walk away with the sale.
Unique
Thus, a Unique Selling Proposition becomes a Relevant Service Proposition or RSP a totally different concept, and one that echoes throughout your communications. What is unique about your product and/or service. You need to define just what makes you special and unique. Take a look and you’ll probably come up with several ideas of your own on how you can apply your unique experience to a niche that only you can effectively dominate. It is absolutely important that you find something which your business has or does which is truly unique in your field. For years, business trainers have stressed the importance of “USPs” (Unique Selling Propositions).
Service
One explanation maybe that we are in a recession and small businesses once again might fight for every dollar and that means they must deliver excellent customer service. In a recession, every small business is in the customer service business, it’s when customer service counts the most. “Whatever type of loan product or service a customer needs at the time, your USP should be so strong it instantaneously brings you into their thoughts whenever they think or talk about it.
Your USP is your “Unique Selling Proposition” — a simple statement of the specific advantages you bring to your clients — a clear statement of what sets you apart from your competitors. Discovering your USP is critical, but not as easy as it might seem. Consumers will verify your USP is accurate, and base future purchases on your ability to fulfill that promise. It is vitally important that your USP is translated through all of your marketing literature so existing and potential customers know what makes you different. The simplest test of your USP is how well known it becomes and how well it sells for you…
