Techblog
The advantages of a unique selling proposition on marketing
A company or product's unique selling proposition can set the foundation for an effective marketing strategy—if it's done right.
A clear Unique Selling Proposition (USP) is a basic element in any solid marketing strategy, yet it is often overlooked. It's why so many products often aren't noticed, despite a marketing push. You want your product to shine.
Your USP is what defines your product or service and sets it apart from the competition. You may merely coast by with a product that’s a clone of your competitors. But if you have a ‘killer’ USP, it will communicate to your audience what makes your product bigger, better, and more special than the rest. And why they would want to buy it.
When formulating your product’s USP, it’s important to implement these key elements:
- It should be truly unique.
- It should be positive and strong enough to pique your market’s interest AND get them to talk about it, and ultimately, buy it.
- It should be hard to imitate.
- It should be easily understood.
For example, it’s easy to claim that your fried chicken is “the best in town.” At least a dozen other fried chicken stores can make the same claim. But if you reposition your product as, “Home-style fried chicken made with 15 herbs & spices delivered to you anytime,” then you’re offering what no other fried chicken company does yet.
In digital marketing that uses several media platforms (i.e. blogs, video, social media), a strong USP also requires the ability to catch and keep the audience’s attention amidst all the online noise. Specialised tactics may be implemented like interactivity, great visuals, a fun storyline, or a consistent schedule-– anything to ensure that your audience sees and remembers what you’re offering. All these can make up a company's marketing strategy whose backbone is a well-defined product with a clear vision.
In essence, your USP must communicate to your audience that your product has superior value, and that this value is only attainable if they buy from your brand.
A well-developed USP is vital when you're setting out any marketing strategy. It gives you clarity around the content you want to develop for any online or offline marketing. Its benefits to your marketing strategy include:
A Clear Benefit
When your product or service’s benefit is well-defined by its USP, your target audience learns to appreciate it for that particular aspect e.g 24/7 support or calls returned in 1 hour. Otherwise, your customers will simply gravitate towards others that offer the lowest price, regardless of what other product benefits you may have to offer.
Improved Revenue
A strong product USP improves your marketing as a whole and helps bolster revenue because it gives your market a specific reason to buy. Combined with your product’s intrinsic benefits and a competitive price, your USP will help cement your product’s position in the market, so that your customers will want to keep paying for it.
Loyal Market
When you build a strong and positive product identity via a significant USP, it tells your market where they stand with you. You don’t want your product to be an option amongst other brands, after all. With a powerful USP, you can easily corner the market segment that needs and wants exactly what you're offering, increasing their loyalty to your brand.
Streamlined Sales Strategy
A generic marketing and sales campaign may be hit-or-miss because it’s harder to highlight your product’s strengths. A good USP streamlines your strategy by allowing you to communicate how you want your market to perceive your product and brand, and focus on its particular benefits.
Summary
- A company's well-conceptualised Unique Selling Proposition (USP) defines a company's product or service and gives it an edge over the competition.
- With a solid USP, a company gets to clearly characterise its product or service, consequently raising its revenue through a loyal market.
- A clear and simple USP can also become the basis of a company's content marketing strategy. It allows for a streamlined sales strategy and lets a company focus on the benefits its product or service can give its market.
- As a traditional marketing concept, a USP can extend to the use of blogs, video, and social media, cementing its message to the market.