It’s easy, right? Whatever is the USP of your business just push it in front of your audience and they will make a purchase.
Or will they?
As a marketer or an entrepreneur, you most probably know whom you are competing with. For a Marketer, after understanding the business you are stepping into, the first task that we marketers do is a detailed competitor analysis.
Well, I do a basic business and competitor analysis before even going for the interview.
What if after doing the business analysis you find out that the Unique selling point of the company is not so unique as you thought it was.
What should you do now? Drop the idea of joining this company? Or as an entrepreneur, drop the idea of this business model and look for something else?
There are so many businesses out there that having a Unique Selling Point is next to impossible these days. Even if you end up finding a USP, your competitor or any new competing startup will most probably copy it making your Unique selling point common again.
You have two options now.
You can either choose a USP which can’t be copied like Apple made innovation their USP. But, to make innovation your USP you will need a lot of investment in Research and Development which most startups don’t have. And trust me, the budget won’t be the only constraint that you will face in the path of innovation.
Or, you can choose the second option, have multiple USP’s as the features in your service. For example; value for money, lag-free user interface, best hardware, great camera and user-friendly design made Xiaomi a brand in itself. They basically merged the USP of multiple competitors and made their place in the market.
Xiaomi bought flagship tech to affordable rates and made their market among the people who could not afford flagship rates.
So here are some Unique selling points that you can use as features in your startup.
Whenever I say customer experience the first brand that comes to my mind is AMAZON. In fact, the best part of making a purchase from Amazon is after sales support.
I feel secure whenever I make a purchase from Amazon because I know that if something bad happens, they have me covered.
Humans are creatures of habit. So am I. Because of the great customer experience that Amazon provides, I am used to of opening amazon app whenever I want to buy something without even checking offers on other platforms and a majority of people do the same thing.
Speaking of customer experience, Godaddy charges more than his competitors because their customer support is also exceptionally good when compared with other competitors.
User Experience and usability
Next is what both Amazon and Godaddy are not good at and that is user experience. This is a part of the customer experience but I wrote it separately as this is an area of customer experience that these big brands are not good at.
This is the point which allows their customers to consider one of their competitors as alternatives. In India, that alternative is Flipkart.
Another example of really bad usability which I discovered recently was LinkedIn ads panel. I got so frustrated with their ads panel that I ended up dropping the idea of using them as one of my traction channels.
The sad thing is that ads are the primary source of revenue for LinkedIn. Imagine how many customers would have dropped the idea of using LinkedIn marketing because of this frustrating UX.
Imagine the customer lost because this frustrating UX made them feel dumb.
Value for money
If you do not have a brand like Apple and a huge fan following like them then most probably you will have to make your product value for money or cut the price of your product so that you are available to cater middle class and gain your popularity from there.
It does not matter what you think is the right value for your product what matters is what your potential customers feel.
The above-mentioned product can also be digital like a website or application or a digital product that earns money for you.
This is the whole point of creating a product centered around customers.
Recently One plus 6 was launched and the sale was over within 10 minutes and within these 10 minutes, One Plus made a sale of 1 Billion US Dollars. Guess what is the USP of one plus?
Remember:- You are creating your product for your customers. From Design to Price everything should be decided after understanding what your customers truly desire.