Question

7. What strategy did you consider creating a unique selling proposition
to your product or service?​

Answer 1

Answer:

A unique selling proposition, which defines your company’s unique position in the marketplace, is an important part of creating pricing power and a business that customers genuinely love.

A strong unique selling proposition lets you to stand apart from competitors and actively focus your energy on creating things that cater to your ideal group of customers.Having a unique selling point—even one that ostracizes some prospective customers—is a competitive advantage that allows you to avoid the trap of trying to please everyone.

Why You Need a Unique Selling Proposition

It’s likely that many of your prospective customers have difficulty deciding which option in your industry is the one that deserves their time, money and trust.

This selection can be a daunting process for customers that don’t have the experience to know what separates one competitor from another.

That’s why it is your job to assist them by making your unique selling proposition obvious, different and memorable enough that they can see exactly what your business has to offer that the other guys do not.

As Theodore Levitt, author and professor at Harvard Business School, says:In order to be remembered in a crowded marketplace, it helps if your business has a trait that’s worth remembering.

While a superior product and outstanding service are the foundation for growing a company that goes the distance, there is an opportunity to use differentiation as a competitive advantage in order to stand out like a sore thumb.

Creating a Unique Selling Proposition that Works

When it comes to developing a unique point of difference for your business, it’s impossible to give one-size-fits-all advice.

That said, there are certainly some best practices that work across marketplaces and that any business owner can apply to make their unique selling proposition worthwhile.

Below are some of my favorite methods as well as examples of how certain companies put them into practice.