What sets you apart from your competition?
In today’s blog post, we’ll explore how you can use the USP Analysis to find and create your Unique Selling Proposition (USP) so your company can stand out and stay ahead of your competitors.
In order to create a long-term sustainable and successful company you need to have something that customers uniquely value and that positions you as the go-to business. The USP analysis will help with that.
- ⇒ What is an Unique Selling Proposition (USP)?
- ⇒ What is your USP?
- ⇒ Exercise: Analyse your USP
- ⇒ Summary
What is an USP?
Your USP is the unique product or service you offer that your competitors can’t. It’s the reason why customers buy from you and you alone.
USPs have helped many companies to succeed and so they can help you to be successful.
What is your USP?
Write it down and check if you are crystal clear about your USP or not. If not, I recommend to do the following exercise.
Exercise: Analyse your USP
Now, I invite you to go through the four steps to analyse your USP. It will help you to market your business better.
Use the following four steps to analyse your USP:
Step #1: What characteristics do customers value?
- First, brainstorm what customers value about your product or services, and about those of your competitors.
- Move beyond the basics that are common to all suppliers in your industry and look at the criteria that customers use to decide which product or service to buy.
Step #2: How do you rank compared to your competitors by these criteria?
- Now, identify your top competitors. Be as objective as you can, score yourself and each of your competitors on a scale from 1 to 10 for each characteristic.
- If possible, base your scores on objective data.
- If it isn’t possible, do your best to see things from a customer’s perspective and then make your best guess.
Step #3: Where do you rank well?
- Plot these points on a graph. This helps you spot different competitors’ strengths and weaknesses.
- And, from this, develop a simple, easily communicated statement of your USP.
Step #4: Are you able to defend your USP
- The final step is to make sure that you can defend your USP.
- You can be sure that as soon as you start to promote a USP, your competitors will do what they can to neutralize it.
- For example, if you’ve got the best website, they’ll bring in a better web designer. Or if you’ve got a great new feature in your product, you’ll see it in theirs next year.
If you’ve established a USP, it makes sense to invest to defend it – that way, competitors will struggle to keep up: by the time they’ve improved, you’ve already moved on to the next stage. And once you’ve established a USP, make sure that the market knows about it!
- Key Point #1: The USP Analysis helps to find your Unique Selling Proposition so your company can stand out and stay ahead of your competitors.
- Key Point #2: You need to have something that customers uniquely value and that positions you as the go-to business.
- Key Point #3: There are four important steps to analyse your USP.
I´m available to support you through this difficult time by re-imagine your business. The USP analysis will help you to analyze your unique selling point.
Contact me for a complimentary 30-minute strategy session:
Coming up next month
In my next blog post, I´ll share how to use the Blue Ocean Strategy.
#advantages #analysis #approach #blog #blogpost #business #businesscoach #businesscoaching #businessowner #businesses #businessmastery #businessmodel #businessmodelcanvas #canvas #change #challenge #company #companies #coaching #coach #entrepreneur #entrepreneurship #empower #empowering #leadership #leadershipcoaching #leader #leading #marketing #mindset #mindsetcoach #mindsetcoaching #opportunity #potential #solution #strengths #strategy #strategies #strategyforsuccess #system #success #successful #threat #weakness #nextlevel #nextlevel-coach #nextlevelscoach #nextlevelcoaching #nextlevelcoach #marius #mariusbill
Copyright 2019-2021, Next Level Coach. All rights reserved!