What is a unique selling proposition (USP)?
A unique selling proposition is what differentiates your business from your competitors and should be leveraged in your marketing campaigns.
Now more than ever, your business must have a unique aspect that sets you apart from your competitors.. You should also ensure that this proposition is clearly outlined in your marketing campaigns, and is a crucial task which elevates your business. Most organizations understand the differences between their offerings and that of another, but do not appropriately utilize them in their marketing materials.
The modern industrial landscape is full of companies trying to make a name for themselves. Strong brand development is not a new concept, but the excessive noise on the Internet can make it difficult to be heard. Do you feel like your brand struggles to gain traction in your industry? Read on to discover how you can differentiate your brand and leverage your unique selling proposition!
Ways to differentiate your brand through marketing materials
1. Find what makes you unique
This may seem logical, but you shouldn’t sell the same offering as someone else for cheaper. This methodology of undercutting your competition while making less profit than they do is not sustainable. It can lead to dangerous price wars which eliminate your profit margins entirely and renders the business null.
Additionally, you should figure out what your customers value most. This might include selling something that is of lower quality to appeal to a different demographic that isn’t willing to purchase an expensive version of a product they desire. You can figure out what you are doing right and where changes can be made by asking for feedback from your consumers.
Ultimately, you should identify how you relate to your competitors and leverage that inherent difference. Small business entrepreneurs should be highly responsive to feedback, adaptable, and hospitable to gain an advantage over their more experienced competitors.
2. Offer special warranties or guarantees
When you eliminate the risk of wasting money on a product or service, people feel secure with their decision to purchase one from you and will be more comfortable trying out one of your offerings if they haven’t already.
For example, Domino’s famous USP of covering your pizza’s cost if it isn’t delivered within 30 minutes is enticing to consumers. Many people order delivery strictly from Domino’s just for the off chance they end up with a free meal. This concept will create a dedicated market that is loyal to your brand.
3. Find your tribe
Target audiences are important in creating tribal markets, which are by definition loyal to your brand. It can be difficult to find a balance between both serving a highly targeted market and catering to a generalized marketing strategy which brings in people of various demographics. This balance is important for you to establish and stabilize your market share.
Initially, you should find your niche audience and what appeals to them, and then gradually scale your marketing strategies to include more people without compromising your core market. Some individuals lose interest in an offering when it becomes mainstream, so you want to keep your most loyal consumers by not eliminating what they love most about your brand.
4. Implement customization
You should make your business’s offering customizable in some way other companies don’t, as some level of personalization is always viewed favorably by consumers. This is often something that larger companies do not offer, since they tend to focus on mass production at lower costs. As the values of consumerism are shifting in Western culture, personalization and customization has never been more popular. A desire for individuality has led consumers to prefer personalized products and services that make them feel exclusive and special.
There are 4 main faces to customization, as outlined by James H. Gilmore and Joseph Pine II. These various approaches to product and service customization are centered around different levels of involvement and transparency from the business.
5. Flex your stats
Leverage your analytics for your company in creative and insightful ways, especially if your company is involved in some progressive initiatives (e.g. Hive Digital planting trees after onboarding new clients). Consumers, by and large, are delighted to see how their support of your business is measured.
Consumers will want to hop on your bandwagon after you outline how you excel in respect to your competitors with factual data. Being a user of the latest and greatest offerings from the most innovative companies provides customers with a higher social status. Create this possibility for your business by showing your audience why you are so awesome through your statistics.
6. Always come off as authentic
When you describe your business’s purpose and USP, be authentic. You create a significant amount of dissonance when you over-promise and under-deliver, which respectively results in high expectations and drastic disappointment. If anything, you shouldn’t disclose all of the enticing aspects of your offering so that people have an element of surprise!This ultimately results in higher satisfaction when they purchase what you offer.
To Wrap Up
Business development and strategy can make you feel like a master level puppeteer, pulling switches and levers to generate income for your business. Therefore, it is crucial to take a step back and look at the bigger picture of your industry. If you analyze overarching movements, temporary trends, and are quick to capitalize on any industry changes, you will gain an unmatched advantage.Without a USP to set yourself apart from others, it is easy to get lost in the crowd. Hive Digital specializes in SEO, PPC, and web analytics to help companies make their digital footprint larger. Contact us about our services to see how we can help you stand out on the Internet, and generate more profit for your company!