Unique Selling Points, also known as Unique Selling Propositions, are a key part of your business strategy. USPs distinguish you from your competitors because you offer products, services, and solutions they don’t. USPs are essential to constructing a strong brand identity, reaching your target market, and maintaining customer loyalty.
What is a Unique Selling Point (USP) in Business?
A unique selling point is the aspect of your business that makes it different from others. With a USP, you have a competitive advantage that encourages customers to shop with you instead of elsewhere.
You should consider your USP when setting up a business and at every stage along the way. Every market has competitors, and with online retailers, there are near-endless choices for potential customers. Therefore, you must convince them to buy from you.
Identify a strong USP through market research into your competitors and with customer surveys to find common pain points. Most businesses market their USP, but some will also register a patent to ensure theirs remains unique. This prevents other companies from reproducing their product or service.
Examples of Unique Selling Points in Business
For products, some unique selling propositions could be the manufacturing process, the sustainability strategy, customisation features, shipping capabilities, integration to other products/systems, and more.
Some service industry examples are exceptional customer care and aftercare packages, unique services, low prices, and more.
A popular USP is KFC’s infamous original recipe chicken. KFC make their secret recipe with 11 herbs and spices, and the exact ingredients and amounts have been a point of debate for decades. This trade secret keeps anyone from replicating their unique flavour, meaning instead customers instead go to KFC.
Another business unique selling point example is Amazon. In 1997, Amazon implemented and patented their 1-Click ordering system. This meant customers could make their purchase at the push of a button instead of going through a tedious checkout process. Alongside their 600 million items for sale and free/same-day delivery services, Amazon has made their USP complete customer convenience.
Communicating your USP
Your unique selling proposition should be integrated into every aspect of your business approach. During product development, consider ways to further develop your existing USPs. You can also introduce new ones to address areas where competitors fall short.
By clearly marketing your USPs, you are likely to see an increase in your conversion rate and customer loyalty. Review yours regularly to ensure you are tackling a common pain point and it remains a unique offering.
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