Unique selling points (USP's) and how to find yours!

Unique Selling Point (USP) is vital for any business. It is what makes you better than the next guy. Once you find yours, you'll find your business elevating to new levels. There is a reason for this and even the government acknowledges it.

See, the US government doesn't allow for monopolies because there needs to be differentiation and competition in the market to give people choices. Without different options, we would be at the mercy of big corporations. but with the inclusion of competitors, prices, quality, and customization are all competitive and prevalent. See the consumers want to compare options and find what works best for them. If you present yourself the exact same as the next guy, why would they choose you? They have no reason to, nothing makes you any better!

So how can you figure yours out? Like most things you can do it your own way, or you can follow a process. Much of this process has to do with a rigorous analysis of competitors in your industry.

The first step in the process would be to simply list out your services or products that you provide. Then you'll want to take that list and find competitors of yours that provide similar products or services.

After this first step, you're going to want to figure out what problem your product or service fixes. Essentially, you want to figure out what the reasoning is that someone would buy your product or service.

Next, you'll want to look at the service or product you offer and consider what aspects of these things you offer are unique and different from what the competitors you previously listed offer. This isn't the products or services in general, rather the specifics of the offerings.

The fourth step in this process is to create short, simplistic, and to the point phrases that incorporate the aspects from the previous three steps. This step allows you to put into perspective, for not only you but your customers what you are offering and why should they buy from YOU specifically. The USP isn't necessarily about selling the product, as much as it is about selling your company.

Here we are, the final step in finding your USP! You're almost there, just one last step! For this final step, you're going to be putting it all together. To do this you're going to look through the eyes of the consumer and ask, what's in it for me. Ensure that you state the benefit and make it straight to the point, some examples could be...

Domino's Pizza: "You get fresh, hot pizza delivered to your door in 30-minutes or less…or it's free."

Target: "Expect more. Pay less."

U.S. Peace Corp: "The toughest job you'll ever love."

M&M's: "Melts in your mouth, not in your hand."

FedEx: "When your package absolutely, positively has to get there overnight."

So, now that your business has a USP you can effectively sell yourself because you now have a clear idea of why you're better than the next guy. Congratulations and prepare to watch sales soar (like a falcon)!!