Specialised tactics may be implemented like interactivity, great visuals, a fun storyline, or a consistent schedule-– anything to ensure that your audience sees and remembers what you’re offering. But if you reposition your product as, “Home-style fried chicken made with 15 herbs & spices delivered to you anytime,” then you’re offering what no other fried chicken company does yet. It clearly articulates why someone should want to buy from you. The more significant your USP, the greater your potential revenue advantage. Combined with your product’s intrinsic benefits and a competitive price, your USP will help cement your product’s position in the market, so that your customers will want to keep paying for it. Your unique selling point is the heartbeat of your organisation – the thing that sets you apart from the others, and highlights the heart and soul of your company. A generic marketing and sales campaign may be hit-or-miss because it’s harder to highlight your product’s strengths. Unique selling point (USP) can be defined as a company's unique position in the market. There comes a point, during the sales process, when the salesperson needs to present the solution that meets the customers' needs. When it comes to developing a unique point of difference for your business, it’s impossible to give one-size-fits-all advice. These very same benefits, however, can turn into liabilities if consumer trends or … Here’s what you should know. You don’t want your product to be an option amongst other brands, after all. It's why so many products often aren't noticed, despite a marketing push. OK, maybe … A unique selling point (USP) defines your company, highlights the advantages of doing business with you and sets you apart from the competition. To reap the best business benefits, you need to fulfill your own unique USP. It’s the #1 thing that determines whether people will bother reading more about your product or service or hit the back button. A unique selling point (USP) is a differential factor, which enables the business to distinguish itself from other competitors in the market place. Make a list of every benefit you provide – Write down everything about your product or service that … functionality offered by a software program that enables users to do something In digital marketing that uses several media platforms (i.e. A unique selling point (USP) is a differential factor, which enables the business to distinguish itself from other competitors in the market place. A good USP streamlines your strategy by allowing you to communicate how you want your market to perceive your product and brand, and focus on its particular benefits. Your USP explains why your product or service is bigger, better or different than competing alternatives. In this step, list 3-5 of the biggest benefits a client gets from … Being able to communicate your unique selling point or unique selling proposition is really important for B2BSell to work out. If the salesperson uses the brand himself, it becomes even easier for him to passionately and persuasively sell value to prospects. Neil Kokemuller has been an active business, finance and education writer and content media website developer since 2007. Theodore Levitt, a professor at Harvard Business School, suggested that, "Di This example combines the Unique Selling Point and the Unique Value Proposition: You get fresh, hot pizza delivered to your door in 30 minutes or less, or it’s free. Sounds easy enough, right? A unique selling proposition (USP, also seen as unique selling point) is a factor that differentiates a product from its competitors, such as the lowest cost, the highest quality or the first-ever product of its kind. The term was coined by television advertising pioneer Rosser Reeves of Ted Bates & Company. It’s the #1 thing that determines whether people will bother reading more about your product or service or hit the back button. Do a Google search and … Creating a unique selling proposition can help set yourself apart from the competition, target specific customer groups and develop a strong brand identity. OK, maybe … Your unique selling proposition (USP) also referred to as a unique value proposition is the core of your competitive advantage as a small business. A benefit describes how a feature and advantage of a product can meet a specific need the buyer ... Features,Advantages and Benefits. Are you aiming for a B2B or B… When you build a strong and positive product identity via a significant USP, it tells your market where they stand with you. One of the major benefits of a strong USP is that it can help you get out of a price war. A unique selling proposition makes your differences clear to prospects and compels them to give your brand strong consideration. You may merely coast by with a product that’s a clone of your competitors. Your USP is what defines your product or service and sets it apart from the competition. So you need to create a unique selling proposition (also known as unique selling point and commonly referred to as a USP), and your USP needs to be valuable to your audience and create a competitive advantage. Now for the kicker. There comes a point, during the sales process, when the salesperson needs to present the solution that meets the customers' needs. To reap the best business benefits, you need to fulfill your own unique USP. It's important to have a unique selling point (USP) that differentiates you from your competition Click To Tweet Why is it important to have a USP? Yes, some people shop purely for price and ‘the absolute lowest prices’ can be a USP, but let’s take a look at Domino’s and FedEx. How to Position your USP with Creative. It was used in successful advertising campaigns of the early 1940s. With a solid USP, a company gets to clearly characterise its product or service, consequently raising its revenue through a loyal market. It's important to have a unique selling point (USP) that differentiates you from your competition Click To Tweet Why is it important to have a USP? Kokemuller has additional professional experience in marketing, retail and small business. Each repeated, positive experience contributes to budding favorable sentiment. By showing the benefits your audience relates to, the chances of converting a sale increases dramatically. A Unique Selling Proposition is an especially critical marketing tool for small businesses who are forced to compete with both other small businesses and larger retail chains. With a powerful USP, you can easily corner the market segment that needs and wants exactly what you're offering, increasing their loyalty to your brand. Copyright © Singtel (CRN: 199201624D) All Rights Reserved. U.S.P stands for Unique Perceived Benefit and the meaning is simple - it’s the most powerful, dynamic, unique … In essence, your USP must communicate to your audience that your product has superior value, and that this value is only attainable if they buy from your brand. He holds a Master of Business Administration from Iowa State University. It can be a set of attributeswhich your company offers to the customers and also gives you an edge over your view the full answer Previous question Next question Jeremy Woodhouse/Blend Images/Getty Images. The way to accomplish that is by communicating your unique selling point (USP). It is easier for a salesperson to genuinely convey value when he recognizes it himself. These companies stress a benefit, not price. 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