VIDEO 5: How to Define Your Unique Selling Proposition

“Can you answer the USP question? What sets you apart’ from XYZ business? – Build a Business Plan for Success”

How to define your unique selling proposition or point (USP)

It will be extraneously difficult to succeed if you don’t have something that sets you apart. This is referred to as your Unique Selling Proposition or your USP.

Also called your Unique Value Proposition.

Why should someone buy from you versus anyone else? What extra value can you offer?

Look closely at what you want to offer to people as a part of your business model, then you will need to answer the following questions from the very start of your online business:

#1 What are you offering?

Layout the details of your product or service to plan to sell.

• What are the features?
• What does it do or what does it look like?
• For example, is it a 7-day e-course on how to set a WordPress blog?
• Is it a 6-month coaching program that gives people direct access via email to you personally?

Be very specific.

#2 How does it solve customer’s problems?

How does your product offering solve some of your customer’s problems?

A. State the problems your customer is facing from doing your market research.

B. Then describe how each feature of your product or service solves those problems.

Think about how your customer would see your solution not knowing you at all.

If you can answer the question, of ‘what’s-in-it-for-me‘ from the customer’s point of view, you are already halfway there.

#3 What is different about it?

You have to create a product or service that is distinct from your competitors. While it is possible to be successful by creating a me-too site it will be much more difficult.

• • • How is your solution different from other people’s?
    • Are you offering something extra, such as training or additional services?
    • Do you offer your product in multiple formats, such as audio and video?
    • Do you provide extra tools to make your solution easier to use?

If you can’t identify any features that are different about your product, now is the time to go back and create something.

#4 Why should someone buy from you versus your
competitors?

This is by far one of the toughest parts of creating your USP. It will also be one of the most important parts of your sales copy that tie together

• • • some of the problems your potential customers are facing,
    • the features of your product and how they solve their problems
    • then pull in your extra proof of why people should buy from you.

You could have social proof through testimonials of how well your solution works.

You might have a track record of experience in your industry.

You could also have great examples of your solution in action.

Which of these are most important to your market?

Pick one or use them all depending upon what you think prospects need to hear.

Re-cap

If you have already done extensive market research then you know what problems your customers are facing.

Make sure you thoroughly understand what your targeted customers want and what your competitors are already offering.

“Then you will be able to identify exactly what you can do differently or where you can add something more.”

Put all of that together and you have your unique selling proposition.

Continue to the next video How to Write Your Elevator Speech for Your USP.