How to Determine Your Business’ Unique Selling Point?

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It's an unfortunate truth of the business world that there's no such thing as a unique company. Whether it's Internet service, electrical contracting, or just selling groceries there's always someone who can do the same thing on the face of the matter. That's why it's important for every business to understand what its unique selling point is. Oklahoma business coach Martin Holland assist businesses in determining what their unique selling point is so they can succeed in their market. What is a Unique Selling Point? A unique selling point, or a USP, is a feature that makes a business different from its competition. This feature could be objective or subjective, but it will be what carves a business's niche and helps define its market. All one has to do is look at a business's marketing and it's obvious what the selling point is. Wal-Mart and the Dollar Store offer low prices, Burger King promises customers that they can have it their way, and Enterprise car rentals will bring the car straight to its clients' doorsteps. These businesses aren't selling a product as much as they are an attitude, a belief, or an idea. This is the thing that not all businesses get; unique selling points aren't always products or services. It could be a professionalism that competitors lack, the fact that a business is locally owned, or that promises a guarantee on what it sells. It might be the idea that one business offers a luxury product, or that it provides comfort and convenience; things that can be more ephemeral, or part of an experience rather than the product or service itself. What Do You Offer? Deciding what makes a unique selling point isn't always easy. For instance if someone runs a restaurant do they promise fresh ingredients? Professionally trained cooks? A close, family experience? Some combination of all of these? A business needs to ask what it can offer that will sway more clientele through its doors. It might promise a wider selection than the competition, the lowest prices, service with a smile, or just that customers will leave satisfied. Whatever a business chooses to make its unique selling point though, it needs to be sure that it can back it up. Failed selling points can be almost as bad as not having one in the first place.