What is Your USP?
You may think of your business as your child, employees as family, and loyal customers as close friends. These healthy relationships are what fuel our natural lives. Our Children give use hope for the future, our family give us the support we need in the present, and close friendships develop through past events bring a sort of joy and creditability to our lives. Now, as a parent it is your job to teach your child how to achieve these desirable bonds and relationships. This maybe a hard task as a business owner because these things may have come naturally to you and unlike a person a business cannot do this on its own, without these bonds your small business may die. So the question is how do you develop these close relationships with customers, and make life long family members of employees? While there are many answers to this question, one that we will be looking at now is personality or USP.
Unfortunately, USP does not stand for Unique Sales Personality. As good as that sounds USP actually stands for Unique Selling Proposition or Unique Selling Position or UPS and even though it is worded differently it means the same. In a nut shell, USP is what makes your business stand out, it defines what your business stands for and it helps state and determine why you are better than your competitors. To help you understand this concept, consider the field of business you are in, what are the chances that you have the total market cornered? In many cases there are LOTS of other small and mid size businesses that you are competing with that all claim to be the best. We live in a competitive world, and while you as the boss or the parent may feel to be the best in the market, your new business will have much to learn and to prove before it can be claimed as the best.
In order to develop long term relationships with your customers you need to establish that your business is one of the top competitors in your market. You and your best friends might have deeper common interest then the vague ones you may share with a simple acquaintance. The same can be said about the relationship your company shares with its customers. There is a specific reason why each of your customers shop with you, whether it is price, convenience, customer service, variety, or atmosphere. Defining this and capitalizing on it gives you the unique opportunity to build your company’s personality. This also helps your employees by giving them a reason why you are unique, that they can reinforce with each and every interaction with your customers. It’s a lot easier to be the best at a few very specific areas than one vague statement, like being the best.
Finding Your USP can prove to be difficult when first dealing with the idea. Surely as a business owner this is something to consider in the early planning stages before your opening day, but as time goes on you may find that a change of plans is needed. This can lead to an opportunity to reinvent your business and attract new customers. If you’re having a hard time developing a USP then talk to and listen to your customers and take notes from them. Take the time to get to know your customers and understand their habits and why they shop you. If you’re still too new to have customers or if you want extra information take note of your competitors. A specific and defined UPS is what will make your company stand out in a crowded market place, and will draw in those customers who will be loyal to your business because of your UPS – unique selling position or unique selling proposition, that you stand for.
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