Every business should have a marketing strategy plan. The success of every business, whether online or offline, depends on business planning. Experts have shown that strategic marketing planning is the key to improving business efficiency and effectiveness. Business owners are advised to always present unique selling propositions. Extensive marketing knowledge is required for reasonable proposals.
Unique selling proposition and its benefits
A Unique Selling Proposition (USP) can be described as a marketing idea that differentiates a company’s product or service from its competitors through a benefit or a way of doing business. Your USP will convince the potential buyer to do business with you, as your proposition is considered much more valuable than that of your competitors. Here are three famous examples of USPs:
“You get fresh, hot pizza delivered to your door in 30 minutes or less – or it’s free.” Dominos Pizza
“The Ultimate Driving Machine” BMW
“Milk chocolate melts in your mouth, not in your hand” M&Ms
Also, a USP greatly helps in product marketing strategy. Every salesperson should be able to identify the company’s unique selling proposition. You don’t sell what you don’t know. You will be able to provide answers to any question asked by the buyer and thus convince the buyer to buy even more.
How do you know your USP?
1. Think of yourself as a buyer.
The USP must be unique indeed. This should complement the benefits that can be obtained in your industry. Consumer market research should be conducted critically. This will reveal the needs of the consumers and this is the tool that will be used to find out the USP. After understanding the needs of the consumer, the solutions to the needs are then made unique in such a way that they are completely different from those of competitors.
2. Determine the buying factor motivating customers.
You can find out by a simple questionnaire or by short interviews with your client. Most customers will provide genuine answers based on what makes them want to buy your products. It is very essential.
3. Determine why consumers prefer your products and services.
The best source for feedback is your customers. They provide you with the information you need about why your services or products are distinct and preferred over others in your industry. Some of your customers will even suggest how you can improve your services.
Make sure your sales propositions are compelling enough to persuade customers to use your products and services. Also, make sure to retain your customers while increasing your customer database.