4 M E T H O D S T OU N M A S K W H Y

C U S T O M E R S S H O U L DU T I L I Z E Y O U R

B U S I N E S SB Y S H A W N B O D A Y

It’s called your Unique Selling Point. Defined byEntrepreneur.com as “The factor or considerationpresented by a seller as the reason that one product orservice is different from and better than that of thecompetition”. Or in other words, what sets you apart.Whether you are starting a business or already runone, having a USP is a must. Below are 4 ways to helpfind your USP.

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E X A M I N EC O M P E T I T O R S

When developing a product or service the first thing todo is look at the competition. Find out what they aredoing right and what they are doing wrong.This is the best way to find out flaws that are worthcapitalizing on. It can also be beneficial to look at theirpromotional techniques and also their pricing methodsto see where you want to position your product inconsumer’s minds and wallets. Know how thecompetition differentiates their product. Once you haveexamined the competition you may then decide howyou are going to be beneficially different.

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U N D E R S T A N DT H E M A R K E T

Know who is going to buy your product or service andknow how they are going to do it. In today’stechnologically advanced society, most consumers areinfluenced in some sort of way from social and othertypes of media. So knowing which outlets are thebiggest influencers in your market can be beneficial indelivering your selling point to the consumer.

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D E F I N E Y O U RA D V A N T A G E

Once you have studied your market and competition,you must know how you are going to differentiate yourcompetitive competencies. This means knowing whyconsumers will pick your business over others,essentially, what you have that the competition doesnot.

Another way to view this is narrowing down yourtarget market based on one quality that you possess.For example, a restaurant that offers 5-star dining mayonly offer gluten free options, narrowing down theirtarget market. This would be a unique selling point forthat business.

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T E S T &R E F I N E

Once you have done the first 3 steps you may start toformulate a list of potential USPs that could effectivelybe implemented. You should then take the list and testeach USP to see what works and what doesn’t. This iswhen the business will begin to redefine objectives andgoals. When test USPs be sure to implement advertisingand promotional aspects as well to make sure that allpieces of the business are being tested as one.

A USP is arguably the most important part of abusiness and can take a substantial amount of time todevelop. So with that being said, never getdiscouraged because it will take research anddevelopment to come up with a sustainable USP.