What makes your business unique?
Knowing the answer to this question and finding a way to communicate it to your customers, is a defining factor to your success. You may have a good business mindset, a great idea and an established network but a Unique Sales Proposition will allow you to stand out from the crowd.
The reason why the USP is so valuable is that facing competition is one of the most challenging aspects new businesses face. It’s a noisy market place out there and your customers have to have a reason to come to you, you need to offer them something that they cannot get from anywhere else. Having a sound USP will also enable your business too keep your customers loyal and attract more to you, enabling your business and your dreams to grow. In this post we will explore how you hone your USP to maximize your profit.
Understand your own brand
Finding the perfect USP for your business requires you to reflect on your brand. Being unique isn’t about just being different; it has to be in alignment with your business identity. Think about your “why.”
Why did you start this business?
Why is it important to you?
Why do this as oppose to anything else?
Why do you do it so well?
Taking the time to understand and reinforce your motivations helps you to narrow down a USP that reflects your talents, skills and passions.
Understand your customers
Your customers are obviously a vital component to your business success. Your USP has the potential to attract them to you and help you to reach the financial goals you desire. This is why involving them in the development of your USP is a valuable idea. Don’t just assume you know what they want. Many businesses make the mistake of making business decisions based on what they would want in a product or service forgetting that they would not necessarily make the same choices as their customers. Do some market research.
Understand your competition
There is a lot of competition out there, regardless of what sector your business is in. Some business advice promotes a very dog-eat-dog attitude when dealing with competition. I personally believe there is enough space for everyone and your competition doesn’t have to be your sworn enemy. The only way there can possibly be room for everyone though is if your business has a unique slant on the product/ service it’s providing. To be able to provide something unique you have to know what your competition is offering and provide something different. Do your research.
Understand your marketing
Having a perfect USP is one thing, making sure your customers know about it is another. You need to get your message out there and tell the world that what you provide they cannot get elsewhere, it is unique. There are many different marketing strategies and each one has its merit’s but what works for you will depend on your business and ideal customer. As you plan your marketing keep your Unique Sales Proposition at the heart of it. Marketing can feel as if you are shouting to an empty room make sure you analyze your marketing efforts so that you can identify what works and what doesn’t. This will save you wasted time and money.
Understanding how to pitch to your network
Networking successfully can supercharge your business but as you connect with other businesses make sure that you are clear and confident about what your Unique Selling Proposition is. This will impact on the connections you make and the business you create as a result. You need to be capable of communicating exactly what your business can offer people or else you will miss opportunities.
Working as a business coach specifically with mums in business, I have helped many women hone their USP and supported them as they gain the confidence to shout about it. I would love to do the same for you.
If you feel your business is not reaching its potential then your USP could be misplaced or misfiring. I can help. Book your Free Strategy Call to find out more on how Coaching 1on1 or my exclusive Mastermind can accelerate your MumPreneur journey.
To Your Success
Cheers
Kate
