Friday, April 13, 2012

What’s YOUR Unique Selling Proposition?

With so much competition in today’s global markets, differentiating your business from the thousands of others that are offering similar products and services is absolutely essential.  If you don’t know precisely what it is that sets your company apart though, then how can you expect your clients or customers to make the distinction and choose your business over those of your competitors?

A unique selling proposition (USP), as the name suggests, must tell prospective clients and customers precisely what it is that you offer that the competition doesn’t.  It must describe a benefit that is so compelling that your target market will be drawn to your business and no other, but it absolutely must be a genuine proposition that you can deliver on. 

Probably one of the best-known USPs around the world is that which belongs to Fed-Ex®: “When it absolutely, positively has to be there overnight.”  Although the company could have chosen to differentiate itself on price or any other number of factors, it chose guaranteed overnight delivery to set itself apart – and the rest, as they say, is history. 

When deciding on your own USP, remember that it doesn’t necessarily have to be based on a single benefit, but could encompass a unique combination of benefits.  A resume writer with a background in banking who is targeting clients in that industry, for example, could use his background and experience combined with a one-day turnaround time as his USP.

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