What is a Unique Selling Point?

A unique selling point is what makes your product different from others. It’s sometimes referred to as a unique selling proposition and is often written out as a formal statement for a company to showcase and use by both sales and marketing teams.

An effective unique selling point should be a combination of what your customers want and what your product does best. It’s what your sales team will highlight when talking to sales prospects and use it as an example of how your product outperforms its competition. It should always stand out and be used as a beacon to show that your product is ahead of the curve and is the tool that your sales prospect needs to improve their business.

Does Every Business Need a Unique Selling Point?

Absolutely. Not only should you have a unique selling point, but you need to ensure your entire sales team knows what it is so they can talk about it and leverage its uniqueness when prospecting.

If a sales prospect is considering your product and a second, similar option from a competitor, your unique selling point may be what their final decision rests on. If you can offer something the competition can’t, it will put you ahead.

Write out your unique selling point and include it in all training documents. If your product is ever updated or reworked and its components change, make sure your unique selling point is updated and understood as well.

Unique Selling Point Benefits

Increased Marketing

A unique selling point can be used in marketing campaigns, splashed across your company’s website, and cross-posted between social media accounts. Use it to let your entire audience and customer base know what your product excels at, and how it can provide creative solutions.

Boost Your Business’s Recognition

An effective unique selling point will ensure your product is easily recognized. It will help build brand awareness, and in turn will attract new prospects and allow your business to stay ahead of the curve.

Increased Revenue

If your sales and marketing teams work together to let audiences and leads know how effective your unique selling point is, more prospects will flow through your sales funnel, which will inevitably convert to more sales and higher company revenue.

How to Establish a Unique Selling Point

There are two main steps to complete to establish your product’s unique selling point.

1. Research your competition and know exactly what they offer, and what they lack. Every business has competition; they key to being more successful than them is to stand out and offer better products and services. What can your product do that theirs can’t? Do you offer any additional features that only your product is capable of? Figure out what sets you apart and lean into that when talking to sales prospects.
2. Determine exactly what your customers need, and what product features would make their jobs easier. Competitors targeting similar audiences will have similar products, so find the one element that makes your product more applicable to the people using it. If users are frequently experiencing the same problem, how can your product help alleviate it? Get to know the details of what your customers need and let them know how your product will help them.