Developing A Unique Selling Proposition (USP)
Entrepreneurs should build their advertising campaigns around a unique selling proposition, or USP. The USP highlights a key customer benefit of a product or service that sets it apart from its competition. To be effective, a USP must be unique, something the competition does not (or cannot) provide and the USP must be strong enough to encourage the customer to buy.
A successful USP answers the critical question every customer asks: "What's in it for me?" Sometimes, the most powerful USPs are the intangible or psychological benefits a product or service offers customers: e.g., safety, security, acceptance, or status.
The best way to identify a meaningful USP is to describe the primary benefit your product or service offers customers and then to list secondary benefits it provides. Building an ad around a USP spells out for customers the specific benefit they will get if they buy that product or service. Therefore, the USP becomes the heart of the advertising message.
- Identify one of your favorite products
- What is the company's Unique Selling Proposition?
- Why is developing the USP of potential value?