Revisit your Unique Selling Point/Proposition (USP)
In a changing marketplace, it is important for companies to ensure that what they perceive to be their Unique Selling Point or Proposition (USP) is still relevant and that their marketing activity is reinforcing the correct message. Getting the USP right will help with product positioning and differentiate from the competition.
A USP can be assigned to one or several products, to a service, or indeed to the company as a whole. Some companies differentiate on price alone, but this can be risky and often easily copied. For a more sustainable message therefore, identify a USP which is not purely price orientated and which communicates powerfully.
To establish an effective USP, try to:
Understand why the customer uses that particular product or service i.e. what benefits it offers, not just the features, or what it does for them.
How you compare to competitors’ products or services i.e. how your product or service is positively different (or if negatively different, what you need to improve).
Establish how important each benefit is to your customers – Look for gaps to see where you can really differentiate, you may need to develop particular products or services.
Decide what marketing messages you can then use to communicate your USP – both briefly and effectively.
Since all businesses have specific requirements, this article should be used for background guidance only and should not be understood as one to one, personal business advice. No liability can be accepted by Freelance Marketing Ltd.