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3 steps to create a unique selling point to compel customers to do business with you
Written by: Mark GwilliamArticle Overview: Creating a great Unique Selling Point or USP is much like making a love letter. You must, through words, create an image of yourself that the object of your affection will love in return. Unlike love letters though, you’ll have fewer words with which to accomplish your goal.
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3 steps to create a unique selling point to compel customers to do business with you
Daunting as it may seem, making a USP for your business is actually quite easy if you follow the steps outlined below. By breaking the task down into manageable items, you will be able to trim down your message to include only the most pertinent, compelling and effective words in your USP.
1. List down the Unmet Wants or Needs.
To make an effective USP, know what your customers want and need. Next, determine which among them are not being met by your competitors’ USPs. For instance, due to the rising popularity of health products and healthy lifestyle, a restaurant that has a USP of “all ingredients are 100% organic, guaranteed!” can effectively compel a significant portion of the market to dine in the said restaurant. Gift shops can also take advantage of the market’s growing need for more personalised gifts; they can offer a range of customised or made-to-order products as well as free hand courier service. To gain some insight on your customers’ unmet needs, talk to your customers; conduct a baseline market study.
2. Determine Which among Possible USPs You Can Deliver.
A powerful USP is only half of the equation. For your USP to be really effective, you should actually be able to deliver its promise. Offering a 30-minute delivery guarantee to customers, for example, entails that you make a study of the routes, traffic flow, production process, and the many factors involved in making and delivering your product to your customers. This can cost money. You may have to invest in new equipment (e.g. automatic ovens, GPS-capable gadgets), a traffic update service subscription, personnel training, etc. Choose from among your possible USPs one that not only packs a powerful message but is also affordable, manageable and deliverable.
3. Keep it Short, Effective and Unique:
Now, trim down your USP to its most effective length. Keep it below 10 words. Include powerful ad words such as YOU (to directly communicate with the customer) and highly visual adjectives. Furthermore, the benefit must be couched in tangible and measurable terms (delivery within 30 minutes, $xx dollars less, uses 300 Watts less power, etc) so that the readers will immediately realise its value to them. Naturally, your final USP must be unique.
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Related Forum Posts
Re: HOW DO I STAND OUT FROM THE REST?
- Attracting customers towards business is always being a difficult task. Top brands always try to attract customers and make some unique TV commercials for marketing purposes.
You need to work on the same pattern. Keep an eye on your competitor and use unique, new or out of the box marketing techniques to divert the consumer’s attention towards your business.
Re: How do you create the WOW factor in business?
- I think the WOW factor is simply the parts of your business that are unique to your competition. Your ability to market them and hone them in your business plan is what WOW's your customers and market. Everyone will have a different WOW 'point' to work on, and I think its important to mention this in any business plan.
Closing the big sale
- Many entrepreneurs create a new invention with the hope of selling out or licensing their creation to a Fortune 500 company with deep pockets.
Assuming that you have something truly unique and valuable, how do you approach the big companies so that they will take you seriously?
Money Back Guarantee
- That's a good point Louis - if people don't offer a money back guarantee it shows that they don't believe in their product. Most people never ask for their money back anyway but you have to have confidence in what you're selling. If it delivers value you shouldn't have a problem with the guarantee and it reduces the barrier customers have to buy what you're selling.
Re: How do you earn trust with an online business?
- Hi Ros,
When dealing with customers directly, sure honesty is the best policy. However, do you think you should actually make it a point to list the cons on your online business? Or will that deter too many customers/leads?
For example, to earn trust, would it be better to post images of a paycheck for "$20" or "$50" for newbies?
I mean most online marketing businesses will try to lure in conversions by posting pictures of successful people's monthly paychecks ("$10,000" earned in a month) and then have a tiny print stating "individual results will vary". To me, that's not really being "honest" and that's just selling hype.
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