Understanding what makes you stand out in the marketplace and knowing exactly why your product is so special can transform your business. Discover how tapping into your unique selling point can shape your marketing effort and attract buyers with ease.
When you start your business, it’s usually such an exciting and lofty time.
You’re taking product shots, writing blog posts, using the right Instagram hashtags, registered your business name and now you’re waiting for the sales to come rolling in.
One thing that gets overlooked in this heady, exciting time is understanding why you’re different from every other business out there.
You need to know why you’re unique and be able to articulate the impact your product will have on your buyers lives.
What difference your product is going to make in your buyer's lives.
If your inbox isn’t lighting up with Paypal notifications, you might have missed this very crucial step, defining your Unique Selling Point, or USP.
Whether you’ve been in business for years, or you’re just starting out, finding your Unique Selling Point or USP is one of the most important but overlooked steps business owners take.
Knowing your USP makes your marketing efforts easier, and more effective as you’ll be able to clearly articulate why someone should buy from you.
Your USP helps you to focus your marketing messages on what your audience needs to hear to move from fan to buyer; this is usually the transformation they’ll experience with your product or service.
This could be the big or small ways your product will make their lives easier, nicer, more fun, more productive.
The reason for focusing on the transformation is so you’re getting the attention of the right customers by speaking their language.
But finding that language and articulating your USP can require some serious soul searching and practical research.
This is no mean feat. And as always, I’ve got your back.
Here are a few simple actions you can take to find and articulate your Unique Selling Point.
List the Unique Feature of Your Products
Step one in finding your Unique Selling Point, is understanding the features that make your product unique.
Chances are there are other folks out there making a product similar to yours.
If I was to ask you right now what makes yours stand out from the rest, what would you say?
This is your USP.
If you’re feeling stuck, start with a list of product features that are different from all the others out there and frame it in a way that benefits the customer.
It could be the way you produce the item, the quality of the materials, your precise process, whatever it is! Get creative here!
List the customer needs you are fulfilling
What makes someone buy is the impact your products are going to have on their lives.
Think about the fancy wrinkle cream you spent $100 at Sephora on.
You didn’t buy it because of the ingredients or packaging but because of it’s promise of eternal youth. Or at least keeping those crows feet at bay a little longer.
It’s the same with your products.
Put yourself in the mind of your customer and try to figure out why they are purchasing your products. What are their needs which are getting fulfilled by your products?
And it can be as simple as putting yourself in their shoes and asking yourself “What problem am I looking to solve when I’m buying this piece.”
If you’re feeling really stuck, you can ask friends for their opinions or survey your existing customers.
Know what sets you apart from your competition
Doing research is important for marketing purposes, knowledge is power baby.
When you know what the trends are in your niche, what is motivating sales and what the future of your industry may look like can help you find your USP’s.
A great way to do this is to understand what your competitors offer and list the ways your product is different.
Now, I don’t want you to fall into a comparison trap here.
There are more than enough buyers out there in this giant world and we all serve different people.
Understanding the frustrations buyers have in your niche can help you carve your USP and present you with the opportunity to do things a little differently in your business.
And example of that is our business, Maker Academy.
Our Instagram marketing course is amazing, but it isn’t the only one out there.
It is, however, the only one targeted specifically to makers and creatives, and the only one to walks you through step by step on how to turn followers into buyers.
I understand that creatives have special needs on Instagram and these aren’t being met through other courses. This is our competitive advantage.
Spend some time thinking about your competitive advantage.
It doesn’t have to be a big either.
A small feature of your service that sets you apart from your rivals is enough for you to formulate your USP.
Now you understand your position, it’s time to put it all together
Create a tagline that defines your USP
Now, that you have all the ingredients ready for your USP, let’s get cooking!
Start by outlining the things you have identified so far and experiment with short phrases that sum it all up.
The most effective USP’s are simple and to the point.
This should detail what your product is, your why and be easily understood by your customer.
Think of it as a slogan for your business that is both catchy and at the same time resonates with your customer's desires.
At Maker Academy, ours is
“We teach Etsy sellers, online shop owners + makers social media marketing strategies to skyrocket their sales.”
It’s simple and to the point. If you’re a maker wanting to make sales, you’re in the right place.
No matter where you are in your business, understanding what sets you apart is essential.
When you know why you’re special, you’ll be able to target your ideal customer and speak in their language.
And don’t forget that one of the best, most unique USP’s will be you, your story and your motivation for starting your business.