How to Establish Your USP
Posted on 3 November, 2016
When your brand enters a market, it needs to be able to stand out. This is where your USP comes into play. Everyone knows how important a unique selling point actually is but how do you define what makes your company special? It’s easier said than done. The truth is, without a USP, you’re going to seriously struggle. This is why Innovate UK have put together a collection of four essential tips to help define what makes you different.
Understand Your Audience
When it comes to focusing on a demographic, it’s important to be as specific as possible. Try to achieve a honed-in understanding of your audience. This will lend an appreciation of their buying trends, beliefs, lifestyle choices and personal views. Once you grasp this, you’ll begin to recognise why your brand is picked above the competition. This type of information is going to be very helpful when it comes to communicating your brand’s message to your target audience.
Help Us Out
Your service or product should solve a problem. This is regularly the key to success in business. Whether you’re saving time, improving our lifestyle or simply assisting with a mundane everyday task, you should be helping us out somehow. Just don’t fall into the trap of creating a resolution for a problem when there really isn’t one. This is just going to cost you time and money. When it comes to your USP, consider yourself, your customer and the experience you offer.
What are Your Benefits?
Your brand needs to take a stock check of its benefits. List them and take note of what directly affects your consumer. The key reason for this is to get a solid grasp of why customers should opt for you over the competition. Invest money into showing why people should give you a try. Don’t underestimate how effective recommendations and reviews are. Look for the customers who are passionate about your brand and attain a deeper understanding of where this passion comes from. Do this and you should have a sparkly USP to leverage.
Validate Your Proposition
When it comes to a new business, there’s no better validation than attracting paying customers immediately. Securing early adopters is an important step for this. Investors go crazy for a concept that’s already proving it can make it in the industry. Entice new customers with initial offers and advertising. Try to get the details of early adopters when possible. This’ll help to forge a lasting relationship and build a database of users too. If you’re unsure about your end product, do some market research. The result of such may even lead you to alter your USPs and marketing strategy. Above all, this step is about establishing that there’s a demand in your sector.
By following these four tips you should be able to define, communicate and capitalise on your unique selling points. If you’re interested in more startup tips like this, you can subscribe to Innovate UK’s YouTube channel here.