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Determining Your Business's USPs

At a recent meeting of experiential business learning® group, The Academy for Chief Executives, the issue of how to clarify a business’s USP (unique selling point) was discussed.

A very interesting issue which generated a lively discussion from members of the group. The main points were:

  1. USP’s must be UNIQUE and of value to potential customers to be of any practical value.
  2. Start by taking what YOUR team think of as their USP’s (“Technical Competence”, “Operational Flexibility” etc.)
  3. Then ask “So What” repeatedly on each one – (so what does that mean for the customer?) – until you get to something that really seems special to your business.
  4. Then use market researchers to ask your customers and potential customers how they rate your business against those USP’s, and how valuable they believe those USP’s to be to their businesses.
  5. Also ask how customers would rate you against their best suppliers of any product or service (not just the ones like yours)- to get a true measure of how excellent you are.

Peter Pritchett
Chairman, Academy Groups 5 and 32

For confidentiality reasons we cannot divulge all of the advice provided by our members – however, we do hold open meetings where guests are able to attend and experience for themselves the real power of ‘The Board You Could Never Afford®’. To find out how you can take advantage of advice like this every month, visit www.chiefexecutive.com.

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