Unique selling proposition or USP is a marketing strategy to inform customers about how one brand or a product is superior with that of it’s competitors. They determine a feature which is unique and stands out from it’s competitors and highlights products’ benefits which become meaningful to it’s customers. Any USP should have four attributes:
1)It should inform about what products are offered to customers
2)It should tell about the product attributes or benefits from that of it’s competitors.
3)It should tell who your target customers are
4)It should speak about what problems are being solved of it’s customers.
The main purpose of USP is that it is used in the early stages of the sales process. It should be used as a verbal tool to bring it’s prospects to an ultimate decision of buying that particular product or avail that particular service. There is a particular way of writing a USP. The first step is to think about the target audience and the product which is most valuable to them. This will help in the creation of a good USP.
Any USP should be unique to us, our company and our products and services offered for selling. It should include a product or service’s strengths and benefits along with something which distinguishes our product or service from our competitors. Our USP should be such that we present our talking points in a very clear manner to our prospective customers and they should feel excited to know more about the products and services we offer. A USP should not only include product attributes, but also it should include benefits it will offer to it’s customers in-order to get attracted. A unique USP is one which uses words such as ‘only’, ‘greatest’, ‘best’, etc. These words help in attracting customers. Always ensure that while writing a USP, it should give a positive promise to it’s customers. A USP can also be to solve any particular problem, ie, offering solutions to all the problems of it’s customers.
The main benefits of USP is that it generates a huge improved revenue from it’s customers, so much, such that it always generates new customers too. Another benefit is that it ensures that customers in the company are loyal as they repeat purchases from the same company more often, may it be because of the features or the brand value it generates amongst the customers. A good USP ensures that it generates easier and simpler sales as customers are more compelled to buy their products or to avail their services due to the value it perceives to it’s potential customers and the word-of-mouth marketing too affect’s their sales and brings about new and potential customers. A good USP also ensures that their products and services are clearly distinguished from their competitors and create a strong brand consideration for their customers to choose.
An example of a great USP is Apple Inc. It’s main product is the iPhone. Apple’s main USP is the desire of always making or producing high quality products along with exclusiveness. Apple also makes privacy as their unique selling proposition in the latest 2021 WWDC event.