Unique Selling Proposition (USP) is also known as Unique Selling Point. This is a feature or an offering that sets you apart from competitors and makes customers come to you. For example, your restaurant and the one across the street are selling the same dishes at the same price using the same ingredients. What sets you apart is speedy service, and that is your USP.
The table below lists USPs of some well-known brands.
| Brand | USP |
|---|---|
| Apple Inc. | Cool designs |
| ALDI | Cheap groceries |
| Benefit Cosmetics | 50's style packaging |
| Coles Supermarket | Convenience |
| SUPRE | Cheap clothing for teens |
| BMW | Performance-luxury car |
USP is what customers perceive, not what you think. If Toyota sells the same car as Lexus under Toyota brand, consumers might not perceive it as a luxury car. In order to make selling affordable luxury cars a USP, Toyota had to sell those cars under a different brand - Lexus.
MazeCard's USP
Our USP is simplicity. It's simple for businesses to sign up, to offer and manage loyalty programs. It's also simple for consumers to get rewards from multiple businesses using one MazeCard or a smartphone.
Importance of USP
USP is vital because it's what makes customers come to you. All businesses need to know what their USPs are and how to create one. Since USP is what consumers perceive about you, you might need to educate consumers about your products or services, make changes or do other marketing activities to reach a desired USP.
Myth about USP
A lot of people think that unique selling proposition is to do with price or something new, innovative. But the above examples demonstrate that a USP can be anything that gives you advantages over competitors. It could be good service, better value, packaging, high quality, advanced technology, healthier offering or high brand awareness.
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