For years, business trainers have stressed the importance of “USPs” (Unique Selling Propositions). Your USP is the unique thing that you can offer that your competitors can’t. It’s your “Competitive Edge”. It’s the reason that customers buy from you and you alone.
Definition: 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 proposition (USP) is a description of the qualities that are unique to a particular product or service and that differentiate it in a way which will make customers purchase it rather than its rivals.
USPs have helped many companies succeed. And they can help you too when you’re marketing yourself (when seeking a promotion, finding a new job or just making sure you get the recognition you deserve.) If you don’t have a USP, you’re condemned to a struggle for survival – that way lies hard work and little reward.
However, USPs are often extremely difficult to find. t. Philip Kotler says that the difficulty firms have in creating functional uniqueness has made them “focus on having a unique emotional selling proposition (an ESP) instead of a USP”. He gives the example of the Ferrari car and the Rolex watch. Neither has a distinctive functional uniqueness, but each has a unique emotional association in the consumer’s mind.
How to develop your USP
To develop your USP, you will have to answer the below five questions
1. What are your strengths?
2. Who are your customers?
3. What your customer wants?
4. What motivates buying decision of the customers?
5. What differentiates you from your competitor?