Why a Unique Selling Proposition is Essential to Business Success

Why a Unique Selling Proposition is Essential to Business Success

What do you offer to your customers? To succeed, you need to differentiate your business from others around you. Your business needs to offer something that others do not offer. This doesn't mean that you need to offer a unique product, but there must be something different about your business that makes customers choose you over the competition. As you strive to succeed in the business world, how can you develop your unique selling proposition? 

What is a Unique Selling Proposition? 

Who are you as a business? What do you create, and how do you provide those goods and services to others? According to Entrepreneur, "unless you can pinpoint what makes your business unique in a world of homogeneous competitors, you cannot target your sales efforts successfully."

Your USP doesn't need to be a thing or a specialty service that no one else offers. It can be a concept as well. 

  • A particular kind of exceptional service, such as repairs completed in 24 hours
  • A higher-end product or experience 
  • A bargain 
  • A connection with a particular place or demographic that cannot otherwise access that product or service. 
  • If you want to get more esoteric, you could also sell a feeling or a concept. For instance, if your company fixes furnaces, you are one of many who fixes furnaces. What makes you different? One way to differentiate your company could be to be the furnace company who repairs one furnace for a family in need for every $1000 spent by other customers. You could sell the concept of giving or charity rather than just selling your services.

The number of concepts, people, and places you can connect with is endless, and so is the ability to differentiate your company and your products from others. 

Using Your USP to Achieve Business Success 

How is a unique selling proposition connected to business success? When your customers know who you are and what they are getting, they are more likely to visit your company. 

  • Place yourself in the mind of your customer. What is that customer looking for? How can you position your company to provide that particular service or item to your customer? 
  • Talk with your customers about their choices. Learn why they choose you over the competitors. This will help illuminate your unique selling features, and then you can highlight these features in your inbound and outbound marketing.
  • Do a trial run of different marketing strategies to see what works for your customers. For example, you could work on your text message marketing, sending two slightly different messages to two groups of similar customers. If you position your products and services differently in each one, this could help you pinpoint why customers are visiting you rather than the competition, and it can inform future marketing campaigns. 
  • Continue to explore your business values and identity over time, and look at ways to communicate this to your customers. According to Kissmetrics, "many businesses make the mistake of attempting to stand for everything when they first get started." As your customers get to know you through marketing campaigns, social media, and media attention, your reputation will grow. You will become known not just as the company that sells a specific product but as the company that stands for quick customer service, making products accessible to those with disabilities, or creating a higher-end product than the competition.

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