22 Apr Crafting a Unique Selling Proposition, Part 3 of 3
An effective Unique Selling Proposition (USP) differentiates your company, product or service from competitors by highlighting the advantages you offer as seen from your customers’ point of view. Although typically thought of as applying to organizations as a whole, they are also useful for departments within an organization, like R&D, IT and other functions providing services within a company. Creating a USP is not complicated, but requires a constructive reality check.
Whether this is brand new to your organization or you’re USP is in need of a refresh, here are some guidelines to help you through the process.
First – What is a USP?
A brief compelling statement that helps to drive your customers to buy your product or service because it fulfills a need and differentiates your product from the competition.
Second – What are the key elements of an effective Unique Selling Proposition?
An actionable USP includes:
- The advantages and benefits you offer
- Your uniqueness
- Simple and memorable words with powerful meaning
- Focuses on specific audience(s) and its needs
Other attributes include:
- Promoting the image of your brand promise
- Encompassing a broad enough scope to allow for expansion/addition
- Using common language and no more or less words than necessary
- Providing perspective on your fit-to-market
- Addressing obsolescence
- Trademarking or copyrighting your USP
Third – How do we implement a process to create a USP?
The process for creating a USP can be as simple as these six steps.
- Examine USPs in the market place that you admire for their effectiveness
- Create phrases and select words that embody each of the key elements
- Place the words and phrases on a board or on Post-It notes for discussion, and arrange them by rank. Select the best phrases that embody your company
- Create three or more USPs and share them with people in your group and company
- Select your top choice and, potentially, start the trademark process if it’s merited
- Approve and apply the USP throughout internal and external communications
Examples of Memorable, Highly Effective USPs
GEICO: “15 minutes could save you 15% on car insurance”
M&M MARS: “The milk chocolate melts in your mouth, not in your hand.”
FedEx: “When it absolutely, positively has to be there overnight.”
Salesforce: “Connect to your customers in a whole new way with the world’s #1 CRM platform.”
This concludes our series of posts including, Crafting a Vision Statement and Crafting a Mission Statement. Need help defining your Unique Selling proposition? Email Rob Beachy at email@example.com.