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The question of a unique selling proposition (USP), or to be more precise, the desire to find out “what makes us different from others”, usually arises when the business is already in operation. In fact, it should be considered much earlier.
A fatal mistake in business is inconsistency of actions, inconsistency of plans and goals. And most of the time, the reason for this is the lack of or insufficient understanding of your UTP.
Let’s define the terms
Choosing is always difficult. Especially when the offers are of the same type and the products are similar or even the same. And then the consumer starts to sift. He does not like it. In detail, it is the more trivial things: an awkward company website, slow service response, lack of online payment. This is the contradiction: a company offers one thing and does not think about how its offer is perceived by the end consumer. Even if you sell the same type of goods, you need to look for your UTP. If there is no UTP, the consumer will find it himself. But his choice may not be in your favour.
Unique selling proposition:
- Specific: should be simple, clear, show the benefit and the specific benefit
- Unique: appeals to the customer, stronger than the competitor’s
- Effective: the benefit must be clear and meaningful to the consumer.
The online sales funnel works like a mathematical model where sales growth implies proportional lead growth. Without a clear and understandable USP on your website and social networks, no advertising campaign or traffic source will deliver the expected results.
CBP. Method #1
Study the competition in your niche and see how you can do better. Haven’t found a difference? Look for it. Look at reviews on social networks, on competitors’ websites. What are customers complaining about? What are they unhappy about?
An effective USP focuses on what makes your business different: you may have the lowest prices, the best customer service or the widest range of online products.
The desire to get as much as possible for as little as possible is the goal of every consumer. The key role of a business is to balance the cost of a product with its value. The role of TSS is to increase sales and attract the target audience (CA).
In the low and medium price segment, price offers, free shipping and any UTP based on financial benefits work most effectively. For stores in the higher price segment, advertising should be in line with the brand positioning.
TSS. Beauty segment
In beauty and personal care businesses, TSSs that show how the product helps save money, time and effort work well. Assortment UTPs highlight a group of products, as in the beauty sector the shopper is often looking for a non-specific product. Consumers in this category are used to constant promotions, so they are “hooked” on special offers and discounts. Advertising campaigns can draw consumers’ attention to the speed of delivery and the minimum cheque amount required for free delivery.
CBP. Method #2
Interview your customers and find the intersection in their answers. The importance of the UTP is not in the wording, but in describing the benefits of the product in a way that the buyer can understand.
- What interests your target audience, what sites do they visit, where do they get information from? Geography, demographics (gender, age), online presence.
- What problems does your website, online shop, product solve?
- What happens if the problem is not solved? What are the consequences?
- Why do people choose your product? Criteria for their choice.
- Which customers are interesting for your company? Segment your existing customers by: number of purchases, average cheque size, average cheque to spend ratio.
- What are your competitive advantages?
- Why should CA buy your products rather than those of your competitors?
- Why should CA order now?
- Where are your competitors stronger?
- What are the most common objections and fears customers have during the selection and purchase process?
- What are the most common questions customers ask? How do they phrase questions about delivery, warranty, returns, promotions?
- What words and images help customers understand the benefits of the product they are choosing?
CBP. Household Products Segment
Online shops and shopping sites segment TSS into mono-brand and multi-brand. To promote mono-brands, they combine price TSS with promotional TSS. Advertising emphasises range and quality. When promoting multi-brands with a wide range of products UTP can be the conditions and speed of delivery.
TSS. Clothing, footwear and accessories
The apparel, footwear and accessories segment is usually divided into mono-brands and multi-brands. Therefore, the same CBPs will work differently for different product categories. Multi-brands add convenience of returns and payment security to the TSS. Mono-brands need to be reminded to save money and emphasise factors such as price and product quality.
Take the best of your competitors and add your own!
Think about the qualities, values and characteristics of your company. How and in what ways are you better than your competitors? Stelvel Ltd’s marketing specialists carry out detailed analyses of the customer’s business and give recommendations on sales promotion, UTP, new directions, expansion or, on the contrary, reduction of the product range. The Stelvel Ltd website platform allows you to effectively optimise your online trading processes for the success of your business.