As a business, you need to stand out from the crowd in order to grab people’s attention. Your unique selling point is how you distinguish yourself from your business competitors in order to get on top. You may be asking yourself, how do you know what your unique selling point is? We’ll go through how you can inspect your business to understand what your USP is and how to evaluate your competitor’s USP performance.
How To Figure Out Your Unique Selling Point
When it comes to working out what your businesses USP is, a great way to start would be gathering the answers to a few questions regarding your online store.
Ask yourself these four questions about your business
It’s important to build a unique selling point that’s going to attract your target audience. Bringing in more quality traffic by knowing your buyer persona should give you higher conversions. By figuring out who your competitors are, you can then analyse how well their business is doing to give you a chance to improve where they haven’t. Taking into account your ideal customer’s problems, allows you to make necessary adjustments to solve them. In doing this, you can build on your brand’s credibility.
Make your unique selling point known, it should be obvious to customers what it is. Display it on your website, market it on all your social media platforms and any other marketing materials you may use.
You can use a SWOT analysis to consider a few important factors in your business. SWOT stands for:
Your strengths are what your business is good at. It would be unproductive and potentially damaging attempting to heavily advertise a unique selling point that isn’t something your business excels at. You risk harming your brand credibility and losing customers. Play into the strengths your business has that will benefit your target audience.
Identifying weaknesses in your business is a good way to improve your overall success. Working out what you can improve on will give you the opportunity to alter aspects of your business in order to do better. This can massively benefit your business growth, something you should be keeping in mind all the time. Having a lack of strength in an area is a good indication that that isn’t fit to be your USP.
Threats are what, internally or externally, is happening, or could happen, that might negatively affect your online business. Considering threats is important in the long run to avoid getting surprised by sudden problems you may face. Identifying potential obstacles or road bumps that could come up in your business means you can plan for them. Even better than that, your company can create strategies to avoid them altogether.
Analyse Your Competitors
Analysing how well your competitor’s businesses are thriving is a great way to take the opportunity to get ahead. Start by researching who comes up first on search engines when you search for your key terms, these people are your competitors. From there, you can dive into their websites and observe which keywords are appearing on their site, how they speak to their customers and what they offer.
Go Ahead and Get a Start on Your USP
So, now you know your unique selling point is what makes your business stand out from the rest. Define your USP by considering the answers to the four questions you should ask yourself and completing a SWOT analysis. Focus on attracting and targeting ideal customers that will give you conversions and solve their problems. Remember, you’re trying to attract people not robots, so be sure to be as natural and relatable as possible. Finally, analyse your competitors to figure out where you can get ahead. If you have any queries or simply want some professional guidance, feel free to get in touch with us to discuss your business.