Finding Your Business’s Unique Selling Point:
This article is specially catered to our Digital Marketing course students. So here’s an example of a simple homework spreadsheet for identifying Unique Selling Point in your business:
| Task | Description |
|---|---|
| Step 1: Define your target audience | Identify your ideal customer and create a detailed description of their demographic, psychographic, and behavioral characteristics. |
| Step 2: Analyze your competition | Conduct a thorough analysis of your competitors’ products, services, marketing strategies, and unique selling points. |
| Step 3: Identify your strengths | Determine what makes your business unique, including your strengths, expertise, and resources. |
| Step 4: Determine your value proposition | Develop a clear statement that communicates the unique value that your business provides to your target audience. |
| Step 5: Test your unique selling point | Get feedback from your target audience to see if your value proposition resonates with them and adjust as necessary. |
For each task in the above 5 steps, a Business owner should provide a detailed response based on their own business. This exercise will help you identify your unique selling point and better position your business in the market.
(Image Credits: Charmain Tan)