Startup ABC #10: USP

Here are some steps you can take to develop a USP for your business:

1. Identify your target audience

Before you can develop a USP, you need to know your target audience. Who are your potential customers and what are their needs? What are they looking for in a company or brand? By identifying your target audience, you can develop a better understanding of what your business needs to offer to appeal to them.

2. Analyze your competition

To figure out what makes your business unique, look at your competition. What products or services do they offer and how are you different from them? What are their strengths and weaknesses and how can you use them to improve your own business?

3. Identify your strengths

One of the most important elements of a USP is identifying your own strengths. What makes your business special and what skills or experience do you have that others don't? Think about what sets you apart from others and what unique capabilities you can offer your target audience.

4. Find your focus

Once you have analyzed your target audience, your competition and your own strengths, find your focus. What do you want to accomplish with your business and what needs of your target audience do you want to meet? What do you want to emphasize in your business and how can you highlight your unique selling proposition?

5. Formulate your USP

Now that you have gathered all the necessary information, you can formulate your USP. A good USP is short and concise and describes what makes your business unique. Here are some examples of good USPs:

• Adidas: Passion for sports; personalization of shoes
• Apple: Unique designs; intuitive, user-friendly devices
• Amazon: The customer is at the center; through Amazon, their lives should be simplified

6. Test your USP

Once you have formulated your USP, test it. Show it to potential customers and ask for their opinion. Make sure it's clear and understandable, and that it conveys the right image and message for your target audience.

7. Integrate your USP into your marketing strategy

A USP is only effective if it is integrated into your marketing strategy. Use it in your advertising campaigns, on your website, and on your social media to make sure it is known by your target audience. Also use images or graphics to visually represent your USP and make it more impactful.

8. Keep your USP up to date

A USP should not be static. You need to review and update it regularly to make sure it's still relevant. Watch your competition and adjust your USP accordingly to make sure it still differentiates you from others.

More information:

• https://fastercapital.com/content/How-To-Create-a-USP-For-Your-Startup.html
• https://www.eu-startups.com/2018/09/does-your-startup-have-a-unique-selling-proposition-usp-what-it-is-and-why-it-is-important/

The start-up service of TU Clausthal supports prospective founders in developing their USP and marketing strategy. If you need further help, don't hesitate to contact us.