A person who has never done business with you walks up and asks, “Why should I choose your business versus any other competitive option available to me?” Does this question leave you tongue-tied, or can you quickly and persuasively answer? Your response indicates whether or not you have performed one of the most fundamental and important steps in marketing your business: the development of a unique selling proposition, or USP. Rosser Reeves coined the term USP in his book Reality in Advertising. Reeves, one of the most innovative minds in advertising, created the infamous USP, “They melt in your mouth, not in your hands” for M&Ms.
Your business should have at least one USP as the cornerstone of your marketing efforts. Unfortunately, most business owners can’t clearly articulate a memorable statement about why people should buy from them. They gloss over this critical exercise in favor of jumping into more “exciting” marketing initiatives, such as logo design, brochure development, and advertising. This is a serious mistake.
In today’s market, it’s critical that you differentiate yourself from your competition. The first step toward accomplishing this is to spend the time and energy on creating a USP for your business. An effective USP is short, memorable, and meaningful. It should not only communicate your company’s focus, but it should also describe the benefits that your company provides. Your USP is about commitments and promises. It should reflect your passion and energy for serving your customers. Ask yourself:
“What is our company committed to providing to our customers or clients that nobody else can?”
It’s best to create a USP that addresses an obvious void in the marketplace that you can honestly fill. Your USP is not about your financial goals or product/service features. Your USP is about meeting your customers’ or clients’ needs.
Consider these USPs: “Helping people see better, one hour at a time.” (LensCrafters); “Federal Express: When it absolutely, positively has to be there overnight”; and “Fresh, hot pizza delivered in 30 minutes or less, guaranteed” (Dominos Pizza). You can see how these USPs clearly differentiate these companies. While your USP may not be as concise, clear differentiation is the goal. Here are some key ideas to keep in mind as you begin to develop your USP:
1. What meaningful specifics describe my business?
2. How can I clearly differentiate my business from the competition?
3. What bold promises or guarantees can I make?
Your USP should be the focal point around which all of your marketing messages are built. Coming up with a clear and unique USP doesn’t cost you money – but it does require careful thought and consideration. To help you develop your own USP, download an interactive USP worksheet, which includes the 7 Steps to Developing a Compelling USP, at www.persistentmarketing.com/usp.pdf.
