USP
A simple Business Model Canvas explanation of “Unique Selling Proposition (USP)“:
When describing the unique selling proposition, you list the advantages that differentiate you from your competitors.
However, before you can define your unique selling propositions, it is important to carry out a thorough competitive analysis. This involves comparing various aspects of your product with those of your competitors in order to understand how you can differentiate yourself in the market. To do this, compare the following information about your product with your competitors’ products:
- Products/services: An analysis of the features, functions and quality of the products/services
- Pricing: A comparison of the prices of the products/services, including possible discounts or special offers
- Market positioning: An assessment of the positioning in the market, including target groups, brand perception and unique selling points
- Sales and marketing strategies: An analysis of sales channels, marketing activities and advertising measures
- Customer feedback and reputation: An assessment of customer reviews, testimonials and overall reputation
- Market development and trends: An analysis of market conditions, trends and developments
You are now aware of the unique selling points of your product and you already know who a potential customer could be. In order to sell your product quickly and easily to your potential customers, you need a catchy sentence or slogan that reflects the value proposition of your product.
When filling out your template, “USP” is in third place in the Business Model Canvas sequence of your Lean Canvas.
Do you need a Lean Canvas for your service? You can download our free Lean Canvas or Business Model Canvas template in German and English to clearly present your business model. The template is available as a PowerPoint, PDF and Excel file. Download it and use it to visualize your business model clearly.
