The eCommerce industry is thriving like never before. In the first quarter of 2021, the total retail eCommerce share was 13.6 %, up from the previous year, and generated revenue of over 215 billion U.S. dollars. With so many competitors in the market, you need something that can make you stand out from everyone.
Therefore, as a new entrepreneur, marking your presence in the competitive market is tough. Unique Selling Proposition (USP) helps you do just that. Regardless of the business size, Unique Selling Proposition can help you improve your conversion rate.
Unique Selling Proposition makes your business different from the others and gives your customers a reason to choose you over your rivals. You can use USP to offer the best user experience, earn their trust, and build customer loyalty.
A deliberated USP will improve your marketing strategy and help you strategize your messaging, branding, and other marketing tactics. However, keep in mind that your USP should reflect your brand value, otherwise it is not going to attract more customers.
Your Unique Selling Proposition should be unique, memorable, valued, and appealing to your target audience. A USP is something that you should be able to deliver constantly. Many businesses around the globe have applied USP successfully to their marketing strategy.
Let’s take a look at them.
- Target- “Expect More. Pay Less.”
- FedEx- “When it absolutely, positively has to be there overnight.”
- M&M- “The milk chocolate melts in your mouth, not in your head.”
- Saddleback Leather –“They will fight over it when you are dead.”
- Dollar shave club- “Affordable blades to your door.”
Here are a few steps you can follow to plan your USP for the business.
1. Understand the Customer Requirements
Well, customers are the base of your business empire. Thus, it is important to understand your target audience’s mindset before planning your USP. First, do market research to find your target audience and determine what they lack from the market.
Get into the mind of your customers and think about how you can convince them that your product is worth the purchase and will make their lives easier.
2. Determine the Strength
Determining your business strength is very important while planning your USP. Your strength highlights what’s best for you and how that makes you diverse from your competitors. This way, you can strategize your USP in order to provide your customers with the best user experience and increase your conversions.
Once you figure out the customer requirements and how you can accomplish them, you can easily maneuver your Unique Selling Proposition. It may take some time, but you can get the best customer engagement for your business in the long run.
