It would be fair to say that a customer in 2022 looks a whole lot different from what they may have been a number of decades ago. This isn’t across a handful of demographics either, it tends to span far and wide.
As we’ve seen through many industries, companies have had to adapt. Some haven’t changed their ways and have suffered the consequences, while others have evolved and become modern-day brands that haven’t just survived the test of time, they’ve prospered in it.
Failing to understand your company’s USP is a mistake that can come back to bite you later down the line. It results in you being without any sort of strategy to progress and over time, things will come to a standstill.
Following on from this, today’s post is going to act as something of brainstorming to help you get your own USP in order – and take your business to the next level.
The obvious one: price
There is no doubt that price tends to be the most obvious lever. We’ve seen a lot of bargain brands grab huge market share over the last couple of decades, taking the mantle of established companies that had attempted to grow with alternate USPs.
In truth, price is always going to be a big factor, but it affects some markets more than others. If you’re catering to mass-market appeal, it’s always going to be a winner. However, if you’re involved in anything niche, there are different ways to attract customers.
The new kid on the block: environment
We’re now at a stage where people are far more environmentally conscious than they have been in the past. This is especially true of the younger generations, who have grown up being taught about the importance of sustainability.
As a result, many companies are looking to make a difference by being more environmentally friendly. This might involve using recycled materials, investing in renewable energy or simply reducing your carbon footprint. The impact of taking a net zero approach can be substantial and can immediately put you ahead of the competition – even if your prices might be a little higher as a result.
Of course, if you are offsetting prices for environmental benefits, find the balance. There is still a distinct cut-off point and people will have their limits.
The evergreen: customer service
In an age of digitalization, it can be easy to forget the importance of good old-fashioned customer service. However, it remains as important as ever – perhaps even more so.
With so many companies now offering a digital-only service, there can be a feeling of detachment. This is where customer service comes in, as it offers that all-important human element.
It’s now more important than ever to ensure that your customers feel valued. This might involve going the extra mile, offering a personalized service or simply being available to answer any queries that they might have.
The modern-day: experience
In a world where people are bombarded with marketing messages on a daily basis, it can be hard to stand out from the crowd. This is where experience comes in, as it offers something that is unique and memorable.
Think about the brands that you love and the reasons why you continue to use them. It’s likely that a big part of it is down to the experience that they offer, whether it’s in-store, online, or both.
Furthermore, these experiences change on a fairly regular basis. Let’s take an example: toy shops. Once upon a time, Toys ‘R’ Us was the king of toy retail; their huge stores lured kids in from around the country. Then, retail took a turn for the innovative – and this brand didn’t keep up. Kids didn’t want to see warehouses stacked with toys; they needed more experience-led reasons to visit a store. It meant that Toys ‘R’ Us couldn’t keep up and was replaced by several more inventive companies.
Creating a great experience involves thinking about every touchpoint and ensuring that each one is positive. It might seem like a lot of work, but it’s worth it when you consider the long-term benefits.
The personal touch: customization
With the rise of social media, we’ve seen a big shift in the way that people consume content. We’re now used to seeing things that are tailored to our individual interests, whether it’s the ads we see when we’re scrolling through Facebook or the articles that are recommended to us on sites like BuzzFeed.
This trend is now starting to carry over into the physical world, with more and more companies offering customization options. This might involve allowing customers to design their own products, choose from a range of different colours or simply add a personal message.
It’s one of the reasons why we have seen a lot of brands that champion homemade products really come into their own. Etsy is a big example; this is a brand who have soared over recent years as they give platforms to product owners who provide more flexibility to the end consumer.
Of course, there are plenty of other examples. Both eBay and Amazon now allow their sellers to add customization options for buyers, which again shows the direction and strength of customization.
The key here is to make sure that the process is easy and hassle-free. Nobody wants to spend hours trying to design a simple product; they’ll just get frustrated and give up. Again, if we turn to our examples above, all of the brands in question allow for this seamless experience.
The takeaway
There is no one-size-fits-all solution when it comes to USPs, but there are definitely some that are more popular than others. The important thing is to find the one that works best for your company, and then make sure that you communicate it effectively to your target audience.
If you can do that, you’ll be well on your way to success.
