What U.S.P Really Means
Let me get right down to it. USP stands for unique selling proposition (or unique selling point), and it is critical that you establish what yours will be right from the start.
Contrary to popular belief, a USP has nothing to do with logos, slogans or graphic design.
Sure, those are components of your overall brand that help people identify your products and recognize you, however, a USP is far more important than that when it comes to building your customer base, and breaking through the barriers of resistance that most businesses experience when they first appear in their market.
A USP is what truly tells potential customers how you are different from the competition. It helps to align your goals with your customer’s. Your USP tells them that you can be trusted, that you have their best interests at heart, and that you fulfill all promises. And most importantly, a USP ensures you aren’t a faceless brand.
This would include key factors that differentiate a product or service from its competition, such as the lowest price, an extended, no-risk guarantee, a unique or exclusive product or offer not found anywhere else, or the first-ever product of its kind.
Your USP should also demonstrate your dedication to satisfying customers, and provide reassurance that you stand by your products, and that there is no risk to your customer when doing business with you.
To start, think about what your product or service has that the competition doesn’t.
Consider ways you can highlight those differences and emphasize the benefits. Paint a clear picture as to why a prospect is making a wiser, sound decision to purchase your product instead of someone else’s.
Your USP is the driving force behind clearly illustrating value and giving potential customers a reason to purchase from you rather than the competition. That’s its one and only job
Creating A Powerful Brand
Before you begin laying the groundwork for your brand message, you’ll want to make sure you thoroughly understand your market. This includes knowing who your potential customers are, and who the competition is.
Here are a few ways to do this:
Research social media accounts from within your target audience. Pay close attention to what they tweet, how they respond to posts, what they like and are most receptive to.
You’ll want to do the same for your your competitor’s. Focus on what kinds of content is being posted that boosts engagement as well as how they’ve positioned themselves in the market.
Google your niche and analyze the top search results. Spend time on their websites, read their sales copy and if possible, purchase a few of their products so you can evaluate the type of content being offered.
Spend time within Facebook and subreddits where people in your niche congregate to discuss common topics. Look for commonly asked questions, and always keep a look out for ongoing discussions as it signifies a growing demand for help in specific segments of your market.
As you research, take as many notes as possible!
Look for who your average customer is and who your top competitors are. These are existing brands that have established themselves in your market. You can learn a lot from how they’ve positioned themselves as influential leaders and created a brand around that image.
It’s important that you truly understand your target audience before you create your brand. You want to build your brand image around what your average customer feels is most important to them. If you do this, you can’t go wrong.
Once you’ve done your research, it’s time to figure out your positioning statement. This is simply a few lines that describe your brand and solidifies your place in your market.
This isn’t necessarily something you include on your website or on business cards. It’s simply an expression of how your products and services fill a specific need in your market. It gives people a compelling reason to buy from you.
The easiest way to come up with a solid positioning statement or USP is to think of your brand as a customer. What would she/he be most interested in? What words would matter most? What offers or promises are expected? What questions do they have?
Thinking about your brand from a customer’s perspective will help you choose a voice for your business that speaks to your audience and ultimately sets the tone for everything from marketing campaigns, social media updates to the content on your website.
Some examples of FINTECH USPs :
USP :- The new standard in online payments
Unique Selling Proposition examples: Stripe
With the most complete toolkit on the market for businesses that want to accept online payments, Stripe has established itself as “The new standard in online payments”.
Their user-friendly interface, multiple integrations, variety of tools, and great technical support have ranked them “the best software platform” among their clients. And they are taking a great (and well-deserved) advantage of it as their Unique Selling Proposition.
USP :- BOOST YOUR REVENUE AND AUDIENCE VALUE
Personalization & Monetizaton platform for online media.
USP :- The Libra payment system is for everyone