What is a USP
USP or Unique Selling Propositions are a few factors of your business that sets you apart from your competitors. USP is something that answers the direct question in the minds of your potential customers – why should I buy from you? It is the sweet spot that intersects between the client’s needs and your best offerings and which is not provided by your competitors.
USP need not necessarily be only for a business, USP can also be defined for a working professional wanting to grow in career, solo professionals, an NGO, and everyone who wants to represent/ offer something to people.
USP is Sweet spot – Your Differentiating factor
Why is it important to find it?
According to our growth experts at Shoonyas, defining your organization’s USP is the first and foremost thing you should focus on when you build or rebuild your organization before approaching your target prospects.
USP catches the maximum attention since USP is a differentiating factor, something that proves how and why your organization is different and better than your competitors.
A compelling USP is a growth enabler. Even for well-established businesses, it is important to frequently review your USPs and make sure they align and with the current customer’s needs and the current market scenario.
In essence, consider your USPs as a major factor for the success of your business.
Examples of popular brands with their compelling USPs
Defining compelling USPs is given high prioritization by all the fortune 500 companies and industry giants from different backgrounds, product-based to service-based.
Some examples of popular brands and their compelling USPs are stated below. Please do pay attention to how the USPs set them apart from their competitors:
Patanjali – Food manufacturing giant. Offering a range of healthy food at affordable prices.
USPs: Swadeshi, Made in Bharat, Healthy products at affordable price
Result:- Fastest growing FMCG company in India,
Apple – Personal electronics manufacturer
USP: Personal electronics with beautiful, aesthetic designs and user experience
Result: – The biggest personal electronics manufacturer in the world, earns more than 50% of profit in the mobile industry while only selling 20% in volumes.
DMart- consumer retail store
USP: Cheapest price in the market, at a single store meeting all your family needs
Result: – Fastest growing Retail chain in India.
Domino’s Pizza- Pizza restaurant
USP: Delivery in 30 mins or else your order is free – SPEED.
Linkedin- Professional platform for professional people
USP: Professional networking generating economic opportunities
Thyrocare – Medical tests lab
USP: Sample collection at home and reports delivered at home in 24 hours – SPEED & CONVENIENCE
Shoonyas – Management Consultancy & Growth Coaching firm
USP: Synergising Numbers as well as Human Potential for Business growth
How to find your compelling USPs
After understanding what USPs are and how some popular brands are defining their compelling USPs, let’s dive into how you can find your/ your organization’s USPs.
Often, while pitching their products or services, organizations say the following, without their utter consideration to defining their compelling USPs:
We offer the worlds best products/service
We give the best quality
We offer value for money
These points are claimed by almost everyone!
Pay heed to the fact that these qualities even if they stand true for you, do not differentiate you and make you stand out from your competitors.
It has to be unique and compelling.
Hence, factors that can be considered as USPs :
Specialization/ Customization you offer in your products and/or services
Some unique features of the product/service
Quality of after-sales support
Speed/ Delivery of your service or products
Variety of products or services that you offer
Price
While brainstorming your USPs, one needs to always consider the customers’ real needs- spoken as well as unspoken. Along with that pay heed that you do not deviate yourself from the core of the offerings and keep in the center of your business realities. In the end, you need to benchmark your potential differentiator points with your competitors. Your USPs have to be UNIQUE, that your competitors do not offer.
In a graphical format, your USP is an intersection point of three factors:
1) Customers’ real needs 2) Your Best Factors 3) Competitors’ Best
Our growth and transformation experts at Shoonyas, have come up with a 5 step discovery map to find your USP, that is very easy to apply and will bring out your/ your organization’s unique selling propositions.
Our testimonies are living proof of the same.
For your growth,
Team Shoonyas
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