Every successful business owner has had to answer one single question – why should consumers buy our products or services?
And it is your USP that helps to answer that question. So what is a USP?
Your USP is your unique selling proposition. It is a statement or phrase that sets you apart from the competition.
Here are some memorable examples of successful USPs. You might not have even considered how effective they are – until you have to create one of your own.
FedEx: When it absolutely, positively has to be there overnight
Avis: We’re number two. We try harder
M&Ms: The milk chocolate melts in your mouth, not in your hand
Domino’s Pizza: 30 minutes or it’s free
A USP is not just a tagline or a slogan – it answers that sometimes baffling question, from the first paragraph above – why should a customer buy from you and not your competitors?
You see, having a successful and memorable USP gives you an edge over your competition. And in some cases, as with Domino’s Pizza – it can even blow your competition out of the water!
So let’s dig a little deeper and take a look at 3 reasons why your business needs a USP:
1. To instil trust
Why should a consumer trust your business and your products? You might love your product – but how is it going to benefit the consumer? Before they buy from you, they must have a reason to buy that resonates with them.
This means that you have to identify their needs and how you can satisfy these needs with your product. What motivates them? How can your product solve their deepest desires?
If a consumer comes to the realisation that you understand them and their needs - and you can give them something they deeply desire – that is the basis of trust.
2. To make them listen
How does it feel to be invisible? Because if people are not listening to you, then they are not buying from you. Consumers quite often buy on a whim – but they still need real reasons to buy your product.
And the best way to make people listen to you is to solve a problem for them. And you do that by answering the question – what’s in it for me?
What are the benefits, to the consumer, of buying from you and not your competition? Think like your customers. You might believe that a free set of saucepans is a great benefit of buying your 6 burner stove top – but what if they already have great saucepans?
Find the unique benefit that sets your product apart – and then they will listen.
3. To make them buy
A great USP stops people in their tracks – and they ask – how do you do that? How do Avis try harder? I wonder if I can get a free pizza in peak hour traffic?
You need to give the consumer a sense of urgency. Letting them think it over and decide later, invariably leads to lost sales. Make them feel that if they don’t buy now – they will miss out or experience a sense of longing or loss.
Can you imagine how many people just HAD to see if they could score a FREE pizza? And can you understand why every time they wanted a pizza they ordered from Domino’s? Give your customers THAT feeling and you have your USP.
For more information on how a USP can help your brand - and increase traffic and conversion rates - contact us at our Northern Beaches studio in Sydney.