Before you design your logo or write a clever slogan, you need to identify your USP. This is what gives you an advantage over your competitors as it differentiates you from them. So what constitutes an effective USP?
A winning USP:
- Makes a proposition to the customer that you will provide a specific benefit to them
- Includes a benefit that your competitors can’t or don’t offer
- Is a strong enough promise that it attracts customers
Examples of successful USPs include Apple’s commitment to the most intuitive, sleekly designed technology, Spar’s focus on speed and convenience (or opening hours) and Ryan Air’s focus on price.
Start by asking yourself and your team members to identify the following:
- The business you are in
- Your current and desired customers
- Your competition
- What makes you different
- The unique benefits that you offer your customers
Remember: “It’s more important to be different than it is to be better.”
You may be interested to read more on this. Our factsheet Gaining A Competitive Advantage is available here.
As with all of our tax tips and web pages this information is necessarily summarised and of a general nature. If you would like detailed specific advice please contact us.