The Unique Selling Proposition (USP) is vital for every business person to develop for their product or service. Yet today, as was in the past, the USP still seems to remain a rarity in a business’s marketing plan. You can capitalize on this.
Anyone who plans to open a business or sell a new product should spend time developing that product or business’s USP. It may take considerable time. It will be worth it. Developing your USP is part of taking the harder, more difficult narrow path.
It leads to great reward.
The USP is the captain that keeps the ship on the right path. A company without a USP is like a ship without a captain. Or possible, like a ship with a very confused captain who navigates without a compass.
It will help make sure that you do not lead your business astray by chasing ideas or products or services that do not conform to your business model. It will help keep you out of deep waters with no life raft in sight.
Products and services that you sell should have USPs, and your company should have a USP.
THE 3 DISTINGUISHING MARKS OF A SOLID USP
The USP is a description of a product that contains three key characteristics:
1) It distinguishes itself from all other competitors that are similar to it. It does something none of the others do — it’s unique in that way. It cannot be imitated, or is not currently imitated. Anyone who follows what you do will be relegated to “imitator” status. Their USP will be: “Me, too.”
2) It makes a specific offer — a proposition — to the reader. It promises to deliver a specific benefit if they buy.
3) It must be desirable enough to motivate the masses into buying. It must sell.
A product description that contains some but not all of these items is not a USP. For example, a product’s advertisement can be unique and make a specific offer, and yet not be desirable to anyone. Such a product reminds me of the opening scene from the Disney animated movie, Aladdin:
“Look at this! Yes! Combination hookah and coffee maker! Also makes julienned fries!”
The salesman offered a unique piece of hardware to the viewer that certainly promised a specific offer: “Will not break!” But it was not desirable. No one wanted to actually buy it, despite its peculiar traits.
Eventually, in a last-ditch effort to capture and keep our attention, he got to the lamp.
“I can see that you are only interested in the exceptionally rare. I think, then, that you would be most rewarded to consider. . . .this.”
You can watch these 45 seconds of video below. They are enjoyable.
But don’t forget the lesson.