Step by Step Guide to creating your USP

You may or may not have heard the term USP (Unique Selling Proposition) but even though it sounds like marketing jargon, it is something that all businesses should be aware of as it forms the cornerstone to your marketing activity from branding to advertising messages.

People get hung up on the word ‘unique’ as most businesses are not unique in terms of the products or services they provide. If you stop thinking about unique and think of a USP in terms of what your business stands for, or what sets it apart from your competitors, it becomes and easier concept to grasp.

What you do need to understand is that a USP is not everything you do. This is a mistake many small businesses make, they want to be known for everything they do and full a full list of positive traits. If you are a smaller business looking to steal business from larger competitors then look for a specific USP you can become known for (you can always sell in your full range of services once you have the lead or customer).

Let’s look at a big brand such as Starbucks. They have a very focussed USP. They are known for premium coffee. They don’t worry about price as this would devalue their USP. They are not known for premium coffee and gourmet sandwiches and amazing smoothies. Yes they sell all these but their USP is premium coffee, simple.

For many business owners, it can be hard to see their own business in such a clear light so here is a step-by-step process to help you come up with your USP.

STEP 1 – make a list of all your target audiences (types of customer or sectors) and think of what each audience might think.  Then list all the things they are looking for in a supplier. What are their needs?

STEP 2 – from this list there should be some that you know your business is strong in and can deliver. This is your list of potential USP’s.

STEP 3 – Take this list score your competitors against it. How well can they deliver on these? This is where your market knowledge comes in as just because they claim it, doesn’t mean they deliver on it so this could be a potential opportunity to steal the USP ground from them

STEP 4 – Look also at what needs aren’t being met by the competition. It maybe that markets are changing and you can identify future opportunities.

STEP 5 – now you have your shortlist, write a statement that conveys each of the potential USP’s, you may also want to think of an image that brings each to life. At this point it is really beneficial to talk to some potential customers or your target audiences about each and get their feedback on which are most compelling.

STEP 6 – once you have chosen your USP, check that you can deliver on the implications of it. Do you need to make any changes in the business to live up to or endorse the USP? If you are all about quality, can you implement money back guarantees for example. If it is about speed of service do you need to extend opening hours of change delivery suppliers?

STEP 7 – communicate your USP. Your USP should be at the heart of your marketing strategy. From your branding to your web content, from advertising messages to creating a pay per click campaign.

STEP 8 – keep reviewing. This does not mean keep changing your USP, but your business does not exist in a vacuum so you need to keep monitoring your competitors, the market and the products and services you provide against your USP to see if it is still valid.