Small Business Success

 Differentiate Yourself from the Competition!

“A USP can help improve the marketability and positioning of your company. It should be the driving force behind your business and be part of every branding effort you undertake,” says Christine Morris, Vice-President, Business Banking, TD Canada Trust. “A good USP will identify your consumers' pain points and needs, and communicate the solution – your solution.”

As a proud sponsor of Small Business Week, a nation-wide celebration of entrepreneurship, October 18th to 24th, TD Canada Trust offers the following tips to help develop a USP:

• Analyze yourself against the competition by making a list of criteria customers value about your business (e.g. range, price, speed of delivery, quality)

• Grade yourself and your competition. Be honest, they are bound to beat you in some areas

• Isolate the three biggest benefits a customer receives from your product or service and the end result they desire from buying it (e.g. tastiest food at the best price or beautiful bouquets delivered on time)

A USP can be stated in three ways, in the product, in your offer and in the guarantee. Don't forget it should address the customer's pain points.

Once you have created a USP:

• Use it in all marketing communications

• Communicate it internally

• Most important of all, deliver on it!