Most companies have guiding principles that describe their reason for being. Many have spent countless hours developing their ‘MVV’: mission, vision and values. It is important to be clear about this, but the reality is that your prospects do not pay attention to them.

Most consist of empty buzzwords like “market leader” or “conducting business with the highest ethical standards.” That’s great, and your MVV can be used as an internal rallying cry to align employees around a common vision.

But something is missing here, and it’s a particular message for your market. It is driven by the answer to this question:

“Why should I do business with you, unlike anyone else, even without doing anything?”

This is perhaps the most important question you can ask yourself as a business owner, but too many cannot provide an adequate answer.

Answering this question creates one of the most powerful assets in your business: your unique selling proposition (USP). Once identified, it is the anchor of your marketing and outreach efforts because it truly speaks to the needs of your market.

Clarifying your USP shifts the focus from yourself to your customer. Your main message is no longer about how long you’ve been in business, or that you’re family-owned, or that you offer high-quality products.

None of it resonates with the prospects.

Your market only wants to know one thing: What’s in it for them?

What makes a good USP?

A good USP is completely geared towards the needs of your market and how you are uniquely positioned to meet those needs. Shift your marketing message from talking about yourself to talking about what you can do for your customers. This is a powerful change and makes selling your services so much easier.

It also provides clarity to all employees on what to emphasize when talking to current and potential customers. Confusion drives customers away. A unified message to the market (from all employees) will provide clarity and make it easier for prospects to do business with you.

What is a USP?

You need to think about some important features to create an effective unique selling proposition. These include:

• Focused on benefits as much as possible
• Specific and not too generic.
• Fill a gap in the market that others are not addressing
• Able to realistically deliver on promise.

All are essential to develop a USP. For most business owners, just thinking about these questions will uncover a lot about the nature of your business and how it compares to your competitors.

When defining your USP, be sure to answer the following questions:

• Why should people do business with you and not with anyone else?
• Why do people buy from you?
• If they’re not buying from you, why should they?
• What do you offer that is different from all the others on the market?
• Complete the sentence, “My company is the only business that…”

famous USPs

One of the most popular USPs was Domino’s Pizza: “Hot fresh pizza delivered in 30 minutes or less or it’s free.” This is a powerful USP and it meets all of the criteria mentioned above: it focuses on benefits, fills a gap in the market, and resonates strongly with the target market.

Geico Insurance: “15 minutes will save you 15% or more on your car insurance.” This USP is direct, simple and very specific, and the market responds well to it.

Bottom line

I hope you can see the power of a well-articulated USP. It forces you to innovate and provide something of value to your market that no one else is offering. This is not only good for the customer, but also for the long-term health of your business.

It’s important to realize that there is a specific way to create your USP, and if you don’t follow this methodology, you are likely to go around in circles and spend too many resources developing your USP. You need information on your employees, your market, a survey of your competition and more. Consider getting outside help before diving into this process.