What is a USP and how can it help your business?

Every business is trying to keep ahead of the market and bring in new customers. With a large jump in start-ups and other new ventures it can feel like your business has become just another business with no real flair or defining features. To keep your business looking fresh and current you must have a strong Unique Selling Point (USP). Your USP is what makes you different within the market place, and sets you apart from your competition.

A strong USP will define you to the customer. It will create a positive relationship and enforce your brands image and identity. Generally speaking a USP is something you have that no one else has or something you do that no one else can. It’s about being truly unique, and shouting about your unique quality to your target market.

Examples of strong USP’s

We all have experiences with USP’s not as business people, but as consumers. As consumers we are inundated with companies trying to entice us to buy into their brands. Take a minute and think which brands sick out and why? When creating your own USP look at how others have done it and why you feel that they are memorable. Below are some companies that have stood out in their markets due to their USP’s and strong brand image.

Head and Shoulders – A brand that has become synonymous with anti-dandruff, Proctor and Gamble owned Head and Shoulder has become “the” Anti dandruff brand of shampoo. Its USP is simply what the product does but it is unique to the market place.

Sensodyne – Another household brand Known for its USP of being designed specifically for people with sensitive teeth. Its USP may be simple but it fills a need for the consumer that is not available in any other product.

Cadbury’s – A brand who’s USP is its heritage. The chocolate makers have been around since 1824, and have become one of the most popular brands in the UK.

IKEA – The king of flat pack furniture is USP is centred around being affordable and stylish. Its Flat pack DIY angle is another key selling point for the company.

How can a USP benefit your business?

When looking to improve your business creating a viable USP should be at the top of your list. Your USP must be something that grips your target market and makes them want to buy from you. Here are some key areas you should consider when creating your USP:

• Pricing strategy – Keeping your pricing competitive can be a strong USP. Companies like Poundland have been shaped on this kind of a strategy. A customer is always looking to save money and get the best deal possible, if you know you are the best priced for something be sure to let your customers know.
• Service – Perhaps you offer a service that others don’t or perhaps you simply do it better than anyone else. The customer is always looking for something new and different and if you have a bespoke service it can be a driving force in your business.
• Product – Do you offer something new or unique to the market? If so this is a chance for you to show your company to the customer as exclusive and up to date.