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Ashish is a graphics designer who wants to start an online design and publishing platform. However, there are several competitors in the space. Why should graphic designers choose his platform and not others? The challenge before Ashish is coming up with an offering for his clients that other design platforms are missing.
Ashish decides to make his platform accessible to all who want to create or publish graphics. While his competitors offer more sophisticated tools that benefit seasoned graphics designers, Ashish’s platform welcomes even newcomers in the field, who can use it to hone their skills. Ashish knows that advanced editing software attracts experienced users, but the ease of use he’s offering will set him apart from his rivals.
In other words, the simplicity of Ashish’s approach becomes his platform’s unique selling proposition and gives him the competitive edge he wants.
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What’s A Unique Selling Proposition?
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Why Is A Unique Selling Point Needed?
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What Are Some Unique Selling Proposition Examples?
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Arriving At The Right Unique Selling Proposition
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Executing A Unique Selling Proposition
What’s A Unique Selling Proposition?
In order to understand how it works, let’s look at the unique selling proposition meaning. A unique selling proposition, also known as a unique selling point or USP, is the X-factor that separates what a business offers from the others. According to the Entrepreneur.com encyclopedia, the unique selling proposition definition is: ‘The factor or consideration presented by a seller as the reason that one product or service is different from and better than that of the competition.’
A unique selling point gives clients a motive to pick a certain product, service or brand over every other option available to them. For a business, a unique selling point enhances the brand’s value and drives marketing and sales efforts, thus playing a significant role in the success of the venture. The inability to zero in on what makes a brand or product unique in a market flooded with near-identical contenders will adversely affect sales efforts. A brand’s unique selling proposition can be identified with the help of a USP analysis, which is a method to pinpoint the factors that might set the business, its products or its services apart.
Before delving into USP analysis, let’s get a better understanding of what a unique selling point entails and why it’s needed. Then we will break down a few unique selling point examples and factors that add to the unique selling proposition definition.
Why Is A Unique Selling Point Needed?
Business owners must be prepared for competition. Prospective clients will have several options to choose from. If they have difficulty deciding whether to choose one brand over another, it’s likely that none of the brands is offering them anything particularly novel that deserves their money, time and faith.
The process of having to choose can be both confusing and frustrating for customers. Many of them won’t know what exactly to look for, or how to differentiate one product from another. It’s the job of a business owner to help them make that choice. How can this be accomplished? By making the unique selling proposition of one’s own brand so compelling and unforgettable that clients get a clear picture of what they’re being offered—and know they won’t get anywhere else.
What Are Some Unique Selling Proposition Examples?
There have been several instances over the years that demonstrate how certain unique selling points have changed the game for their businesses or brands. Here are a few such unique selling proposition examples:
1. FedEx Corporation
The story of FedEx’s former slogan is one of the most widely-cited unique selling proposition examples. The slogan was, “When it absolutely, positively has to be there overnight”. By using these words, the logistics brand was telling potential customers that they could count on their packages being delivered on time. While FedEx’s latest global tagline is similarly catchy, “Where now meets next”, the earlier slogan gave customers a clear idea of what they could get by opting for FedEx’s services over those of others.
2. Starbucks
Often described as one of the most successful unique selling point examples, the coffee chain Starbucks has carved out its USP by maintaining clear focus. Their unique selling proposition has been their premium coffee beverages, and nothing else. If they tried to position themselves as a brand offering premium coffee at the cheapest prices, or one that offers great breakfasts along with their signature coffee beverages, they might not have the competitive edge they currently enjoy. While they do offer various food items and other drinks as well, their unique selling point remains their coffee and roasting reserves.
3. Head & Shoulders
The USP of Head & Shoulders is believed to be among the best-known unique selling point examples of all time. The brand added a new dimension to its unique selling proposition by using the words ‘clinically proven’ and ‘100% dandruff protection’ in their tagline to bolster the faith of consumers. Head & Shoulders went on to become a household name.
It’s clear that a good unique selling point can play a huge role in a brand’s success. Before an organization can get there, it needs to figure out what that USP is.
Arriving At The Right Unique Selling Proposition
Performing a USP analysis is the key to figuring out what a brand’s unique selling proposition should be. There are several steps to this process that a business owner must carry out:
1. Studying the USPs Of Other Brands
Paying close attention to how other brands use their unique selling points to their advantage can help business owners identify what sets their own brand apart. This’ll involve not just analyzing their products or services but also their marketing messages. Studying these facets can yield important information about how brands set themselves apart from competitors.
2. Defining A Target Audience
Identifying the ideal client base will play an important role in outlining a unique selling proposition that’s right for the brand. The brand message can’t be targeted at just anybody; it has to be customized for a well-distinguished market segment.
3. Pinpoint Gaps In The Market
In a saturated market, performing this step becomes crucial for figuring out what makes one’s own brand different. Finding what others have missed creates the opportunity to meet the unfulfilled needs of a target audience.
4. Stepping Into The Client’s Shoes
It’s important to think like the customer and figure out what they want, and whether they’re getting it from other players in the market. A brand might be offering a great product or service, but how does it hold up in comparison to the competition? Is it giving clients something they won’t find elsewhere? If not, it can result in the erosion of the brand’s value and its unique selling proposition meaning. There are a few effective ways to gain valuable insights into what customers want from a brand. These involve conducting surveys, interviews and focus groups.
Remember that it isn’t enough to just identify a unique selling point; a business also has to figure out how to use it. How can unique selling proposition examples be used by brands to their advantage?
Executing A Unique Selling Proposition
Creating unique selling propositions depending on what the target audience is looking for is just the first step. There are some other things to keep in mind during the process:
1. Highlight The Unique Qualities First
If a brand’s unique selling point is one that can easily be used by a rival for its products or services, then the brand may have to rethink its entire strategy down the line. While it can seem tough in a saturated market, a unique selling proposition has to be wholly unique to the brand or the business.
2. Emphasize What The Customer Is Getting
Showing the client what benefits they’re in for is far better for a brand than just focusing on the product itself. An effective unique selling proposition should give customers a glimpse of their world after they’ve bought the product. For instance, while house-hunting can be tedious, successful realtors try to remind prospective buyers about the joys of finally settling into their new home. Successful communication about the benefits of buying a product adds a deeper layer to the brand’s unique selling proposition meaning.
3. Speak Highly Of The Brand
Given how tough it is to find ideal clients, a business should never shy away from showing pride in its products and services. This is the sort of confidence that attracts clients and bolsters their faith. A brand must believe it’s the best and come out and say it if it wants customers to believe this message. It must also be ready to deliver on its promises.
Developing and effectively executing a unique selling proposition is both crucial and challenging. Harappa’s Impactful Sales program is designed to take ambitious, committed sales professionals on a personalized learning journey. Part of its impactful learning outcomes involves equipping professionals with the magic toolkit of excellence in selling. They will be guided by a stellar faculty toward building personal credibility, developing resilience and deepening the funnel of upsell, cross-sell and referrals. The Impactful Sales program is every talented sales professional’s gateway to winning clients, understanding their unrecognized needs, offering needs-based solutions and making compelling sales pitches!
“Explore Harappa Diaries to learn more about topics such as What is Value Proposition, Important Sales And Marketing Skills, Essential Sales Manager Qualities and Sales Executive Skills And Qualities
that will help organizations tap into employee potential.”
