If you have been living in the same city for a minimum of two years I am sure you would have noticed many businesses come and go even before you are used to seeing them. Suddenly it seems the ice cream parlor at the corner has become a saloon, just when you thought of taking your kids there.
Ever wondered why this happens, and also so frequently? Of course, they dont have business in the area”is what most people tend say and the thought is usually dismissed at that. But if you were considering opening something else at a spot like this, say when the saloon decides to wind-up in the end of the year?
You might want to give it deeper thought. Very often it so happens that businesses which were well to do in every way somehow record only losses.
Let us take the ice cream parlor example, it had all the following
- Quality ice cream
- Good variety of flavors
- Reasonable pricing
- Speedy service & convenient seating
- Takeaway options
- Quick and efficient billing
Yet, they closed down by the end of the year. There was no destructive competition nor was it an area without kids. So why is it that you never thought of stopping by all through the year when they were available?
The answer is simple, nothing drew you towards it. In other words, it was a business without a USP.
What is USP?
USP or Unique Selling Proposition is a marketing term that answers these simple questions.
What are you offering that other businesses dont offer? What makes you unique?
The ice cream parlor was started without a USP like most vanishing businesses. People are simply not drawn to coming there, when they could pick up their favorite ice cream from the supermarket or drive a few blocks to the nearby Ben & Jerrys. In short, there is no reason for them to even consider this place as a possible alternative.
But what if they tried to offer something different? Something that their competitors hadnt thought of.
How about a seasonal menu apart from the regulars or ice cream combos inspired from world cuisines! And it doesnt stop with that. The USP need not necessarily be restricted to product. It could also be style of service, different pricing system or a whole new eating style altogether. The purpose of a USP is to secure your business a segment unique from your competitors, thereby making it “competitor-proof.
A USP is applicable to any kind of business, not just the food industry. The idea is simple- if you offer something unique; people have a reason to come to you. On the other hand if you intend to do what everybody else does, then dont be surprised to see a saloon or some other business occupy your spot in a few months time.
