Forbes

Does your small business have a “unique selling proposition,” or what’s also known as a USP. A USP “is key to setting yourself apart from competitors and building a profitable business.”

In a large market, your USP is your saving grace. We found a great article on BlackEnterprise.com on this topic and thought we’d share the wisdom. So, here are some tips you, as a small business owner, should consider in order to cultivate your USP:

• Create a list of your business’s/product’s features, including a detailed list of details about your service/product. Important details include how a product is manufactured, delivery options, price points, and other functional and distinguishable characteristics. Then, convert your service’s/products’ details into benefits. “Then compare benefits with your direct competitors. Do you have a unique story that adds value to your product? Are there any aspects of your product or service that cannot be easily copied—this may be your competitive advantage.”

• Nothing is more important to a successful business, big or small, than understanding your customers’ needs. Their needs not include their daily challenges, but also, “what motivates their behavior and buying decisions.” And remember, not every customer in your market is your customer. As Gwen Jimmere, CEO of NATURALICIOUS, said, “The riches are in the niches.” What does that mean? Find your niche!

• Emotionally connect with your customers. “Identify if your business helps customers feel safe, save time, money, etc.” If it doesn’t, you need to make some changes.

• At the end of the day, “your USP should drive the development of your advertising and marketing campaigns. All of your marketing efforts should include a succinct and clear statement, which includes your brand promise and customer experience.”