Strategize To Succeed
PC409 – A USP Can Deliver Benefits

       Welcome to the next episode of Strategize To Succeed™. Selectively applying the strategies which we discuss each week will help you as you progress from conditions to opportunities to successes.

       In today’s episode, we are discussing the concept of a “unique selling proposition” or USP. It is applied primarily to sales in the commercial sphere. However, we will also be exploring its application in a more universal, and yet personalized context.

       The concept of a USP has been popular in business since World War II, back in the day when Madison Avenue in New York City was considered the epicenter of all advertising. At that time,  marketing theory was focused on the specific areas of product, price, promotion and placement.

      A USP became a roadmap for distinguishing one business or product from all of the other businesses or products by highlighting the special qualities of an item and ultimately presenting the benefits to the customer. 

      By its very name, a USP is unique and must be specially tailored so as to be properly communicated to the individual prospect. This is not a one size fits all proposition.

      So, in order to properly construct such a USP, it is imperative to first clearly understand who constitutes the ideal customer for the product. Often, that process is not as easy as it may seem. It involves identifying the needs, wants, desires, qualifications, limitations, and ideals that you think apply to the selected prospect. But as the process proceeds, it may become apparent that the parameters which were thought to be clearly identified initially may, in fact, require adjustment to more precisely fit the USP. 

       In the article, “How to Write a Ferociously Unique Selling Proposition,” by Dan Shewan (wordstream.com/blog, August 16, 2022), there are four considerations raised when one is seeking to identify their perfect customer:

       . What does your perfect customer really want?

       . How can your product or service solve their problem?

       . What factors motivate their buying decisions?

       . Why do your existing customers choose your business over your competitors?

      The questions seem simple, but the answers are not. In fact, it is not unusual for the customer to be unaware of the answers themselves. So, sometimes, it will become necessary to become a bit of a sleuth to understand the issues of importance to the customer, even if they seem unaware of their own priorities.

       The development of what one hopes is a perfect USP is a somewhat complex process, and it is unlikely that a worthwhile USP can be formulated in a single afternoon. As with any solid foundation, the elements must be carefully fitted to interlock and become the basis for subsequent applications.

       The formulation of an individualized USP takes several steps along with paper and pencil.

       When arriving at a satisfactory USP, consider the benefits offered by your company and your products. List every conceivable benefit. And then understand that every benefit does not fit every customer. 

      Think about when you go shopping for a car. You may like the available options, but the paint colors don’t thrill you. Or, you may like the sticker price, but you’re not excited about the size of the trunk.

       It is that way for every customer, buying every product. Some benefits are important to certain customers, yet other benefits are less important.

      Consider this acronym, which is one of my favorites. WII (“why”) FM, it sounds like the call letters for a radio station. However, WII (“why”) FM really stands for “what’s in it for me?” That question represents the universal question asked by every person who ever purchased any item. It may not be asked literally or consciously, but that question is the basis for every evaluation which a prospective customer goes through when they approach a purchasing decision process. And that is at the basis of what you must evaluate when you examine the benefits which you are able to offer your customers.

       While developing your USP, it is imperative to recognize that one USP, regardless of how brilliantly it may have been crafted, will not satisfy each and every prospect or customer. So adjustments must be made continually in order to become suitably personalized and, as a result, become of increased value.

       Also, as you are crafting the USP, remember that it must be developed in such a way that you are comfortable conveying it when speaking. This is a very personalized sales tool which is applied person- to-person. And your demeanor must reflect not only how unique and special your products are, but also how unique and special your customers are. So, speak with confidence. And prepare to make each prospective customer feel special, distinguishing your product from all of the other competitors on the market, and knowing that, as your customer, they could receive the best version of the product on the market. This is the time for your enthusiasm to run rampant.

       Remember that your purpose in speaking with the sales prospect is not to run down a list of the product’s many attributes. The purpose of your enthusiastic presentation is to focus on the needs, wants, and desires of the customer. Then you can describe how your products will better respond to all of those issues better than the competition. 

       There is a helpful article, published by Forbes, entitled “Unique Selling Propositions: What It Is, Why You Need One And How To Write Your Own,” by Ashley Deland (Forbes.com, July 21, 2022), which compares the writing of a Unique Selling Proposition to the creation of an elevator pitch. An elevator pitch is exactly what the name sounds like. One creates a description of their proposal in brief terms so that it can be fully conveyed, and a connection made with the listener, during the course of their short elevator ride. Ms. Deland outlined the basics of an elevator pitch as follows:

       . stating the problem

       . presenting the solution

       . explaining why the audience should trust your brand

       . describing your USP

       . concluding with a call to action  

       Reflected in the elevator pitch outline are items which directly coincide with the creation and communication of your brand’s USP. Recognizing the profile and identifying traits of your so-called “perfect customer,” and knowing all of the possible benefits which are available with the use of your brand. It would also be helpful when formulating your USP to research your competition. For example, if you learned that your biggest competitor does not deliver, and your company does deliver, absolutely make sure that you include available delivery in your USP. Basic competitor research can reveal significant information, yet the process is often overlooked.

       Before continuing further, Your Mentor would like to make one comment about the evolution of the USP. As a matter of context, noted in the article, “Differentiation Lies Beyond The Unique Selling Proposition,” by Pamela Danziger (brandingstrategyinsider.com, March 2, 2023), the USP was developed in the “Mad Men” advertising era with the objective “to move the ‘mass millions’ to buy the product.” 

      However, as with so many other elements of society, there has been growth and development in the process of creating and utilizing a USP effectively. “Brands need to make an emotional connection with each and every customer rather than rely on mass appeal.” The result of this sales shift became an approach put forth by Theodore Levitt, a Harvard professor who advocated the concept of differentiation as being necessary to the USP. “Differentiation is one of the most important strategic and tactical activities in which companies must constantly engage.” And as summarized by Ms. Danziger, “The USP is intended to drive a transaction, but that’s not enough anymore. Brands need consumer connection. That’s the goal of the successor to the USP, the UPD or Unique Point of Difference . . . the USP is competitor focused – the unique point of difference is consumer focused . . . It takes the USP’s product features and benefits and adds the element of customer experience . . . The brand’s mission, values, and promises become the ties that bind the brand with the consumer.”

      Now, there is another area which is impacted by the creation of a USP. The literature focuses almost universally on the issue of corporate branding and product sales which are seemingly the primary beneficiaries of a USP. However, I would now like to shift, and perhaps expand, your thinking.

      You see, I contend that perhaps the most significant and broadest application of the USP concept is actually as it can be applied to each individual.

       If we consider that the USP highlights differences between brands or products, then it would seem that the most important brand with which each of us deals daily is ourselves. And, whether you engage with a potential employer, or a committee, or even in a social setting, it becomes your individual responsibility to essentially create a USP for yourselves. Figure out how you are unique, different from the competition, and bring specific benefits to the situation. Don’t sit passively and let the other party try to figure it out for themselves. You know all of the details about yourself better than anyone else, so why not make it your responsibility to convey the information appropriately for the situation. Consider it the next time you are dealing with people who are not as familiar with your qualities, and share your benefits so that you can be better appreciated.

      Thank you for sharing your time today. Remember, your application of strategic decision-making approaches can result in more beneficial outcomes for you, both professionally and personally. Why not turn that process into your opportunity?  

Copyright 2023 by The Bermaelyn Group, LLC