Key Performance Indicator (KPI)
Key Performance Indicator (KPI) What is it? A Key Performance Indicator (or KPI) is a metric defined as a measure
Unique Selling Point (USP)
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What is a Unique Selling Point (USP)?
A unique selling point is a concise and compelling point that differentiates your company from your competitors. It highlights something that your company have but your competitors do not, and it is something that is desirable for your customers. It allows you to create a relationship with your customer and is placed at the core of all your Marketing and sales communication.
That is why it is always advised not to exaggerate your USP and stick to the facts and real-life promises that the company can realistically deliver. Think about the question “why would customers buy from you, or use your services?”
A USP can apply to the whole company or each product individually. In the world where potential customers are overwhelmed by the information, it creates shortcuts and associates the product or service with the desirable qualities in the mind of the customers.
What makes a good USP?
- Solve a problem – the words that you use must describe the actual benefits and problem you are solving.
- It must be unique. As detailed in its name (‘unique selling point’) a USP is something that is unique to your company.
- It must appeal to a sizeable segment of your visitors. Having a USP is not about appealing to everyone, however, it helps to attract the right group of customers who will be loyal to your business.
Why should I have a USP?
It is likely that by the time your potential customers have reached your website, they have researched your other competitors or even compared them online as they are looking at your offering. Having a USP allows you to stand out from the crowd and be remembered by your customers.
USPs are sticky and are remembered by potential customers. Whether you are a travel company and have access to unique hotels or a retailer who is able to source the best deals on the coveted brands, a great USP makes customers remember what your brand stands for and make them want to come back.
A USP is not about added value. While ‘Free delivery’ and no quibble return policies are very much appreciated by the customers, these are not usually initiatives which are unique to your company.
How Webtrends Optimize can help you define your USP
Wording – Defining your USP is a process and many businesses find it hard to voice what is unique about their company and products. Testing can help in this respect. AB testing the right wording is one example. Subtle differences in copy can make big impact.
Position – Identifying the right place where to communicate your USP is also a subject for testing. Visitors usually have many entrance points to the website and finding out what would be the ideal position for your USP is something that you can easily test.
Design – Through testing you can determine what visual representation of your USP will have the biggest impact on your customers. It’s great to test graphic and design elements, the size of the fonts and the actual position of your USP on the page.
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