How can you determine your product's unique selling proposition?

Understanding what makes your product stand out in a crowded market is a critical component of business development. A unique selling proposition (USP) is the distinctive benefit that makes your product different from and better than the competition. It's the reason customers should choose your product over another. Determining your USP requires a deep dive into your product's features, benefits, and the needs it fulfills. It's a blend of what you do well and what your customers value. By identifying and communicating your USP, you position your product to capture attention and market share.

1 USP Basics

To start with, you need to understand what a Unique Selling Proposition (USP) is. It's the factor or consideration presented by a seller as the reason that one product or service is different from and better than that of the competition. Before you can determine your USP, you must have a clear understanding of your product's features, how it benefits users, and what makes it unique. Think about what your product does that no other product can claim. This could be an innovative feature, a unique benefit, or an exceptional level of service.

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Pablo Seijo

Senior Technical Sales Manager en Minerals Girona S.A.
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Tener clara la propuesta única de venta es, tal vez, uno de los puntos más relevantes de cara el éxito de la negociación. En mi caso, trabajo en un sector industrial en el que ofrecemos comodities que no se diferencian mucho entre los diversos ofertantes. Por ello, siempre intentamos que la USP no se base solamente en las características del producto y en el servicio (logística, post venta, etc.); sino fundamentalmente en tratar de entender cuál es el aporte adicional que podemos ofrecer a nuestro cliente de cara a la mejora de sus procesos y sus productos.

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2 Customer Needs

Your next step is to thoroughly understand your target customer's needs and preferences. This involves engaging with your audience to learn what they value most in products like yours. You should conduct market research, such as surveys and focus groups, to gather this information. The goal is to align your product's strengths with your customers' desires. When your product's unique attributes meet a significant need or solve a problem for your customers, you've found a compelling USP.

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3 Competitive Analysis

Conducting a competitive analysis is crucial for identifying your USP. You should analyze your competitors' products, marketing strategies, and customer feedback. Look for gaps in their offerings or areas where your product can do better. Understanding where your competitors fall short allows you to highlight these areas in your own product's USP. This differentiation is key to convincing potential customers why they should choose your product over others.

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4 Unique Benefits

It's important to focus on the unique benefits your product offers, rather than just its features. Benefits are the outcomes or results that customers will experience by using your product. They are what truly resonate with buyers. To determine these benefits, ask yourself how your product makes life better, easier, or more enjoyable for the customer. Your USP should clearly communicate these benefits in a way that is both compelling and easy to understand.

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Pablo Seijo

Senior Technical Sales Manager en Minerals Girona S.A.
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Cuando trabajamos en entornos B2B es muy importante, a la hora de considerar los posibles beneficios que el producto puede brindar a nuestro cliente, tener en cuenta a los diferentes actores implicados dentro del proceso. No se trata solamente de las mejoras técnicas en el producto final o en su proceso productivo, sino también en como nuestra oferta incide en la predisposición de cada una de las personas vinculadas a su uso.

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5 Value Proposition

Crafting a strong value proposition is part of determining your USP. This statement summarizes why a consumer should buy your product or use your service. It must be clear, concise, and appealing to your target audience. Your value proposition should integrate your product's most unique and valuable features and benefits, directly addressing the reasons why customers should choose it over competitors. It's the promise you make to your customers about what they can expect.

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6 Test and Refine

Finally, testing and refining your USP is an ongoing process. You should continuously seek feedback from customers to ensure that your USP remains relevant and powerful. Use A/B testing in your marketing campaigns to see which messages resonate the most with your audience. Be prepared to make adjustments to your USP as the market evolves or as new competitors emerge. A flexible approach to your USP will help maintain its effectiveness over time.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you determine your product's unique selling proposition?

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5

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1 USP Basics

2 Customer Needs

3 Competitive Analysis

4 Unique Benefits

5 Value Proposition

6 Test and Refine

7 Here’s what else to consider

Business Development

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How can you determine your product's unique selling proposition?

1

2

3

4

5

6

7

1 USP Basics

2 Customer Needs

3 Competitive Analysis

4 Unique Benefits

5 Value Proposition

6 Test and Refine

7 Here’s what else to consider

Business Development

Rate this article

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