You may have read at some point your event business needs to have a unique selling proposition (USP). If you’ve never heard the term, you may be wondering “what is a USP and what does it mean for my business?”
What is a Unique Selling Proposition (USP)?
A unique selling proposition sets a business apart from competitors. The USP is something specific a business is known for. It’s like the unique fingerprint for your business. It answers the question “Why should customers register for your events instead of others?”
For example, TOMS shoes is known for selling shoes with a purpose: each pair sold equals one pair given to a child in need. It’s their calling card. With all of the other shoe businesses out there, this USP helps people remember them.
A USP helps businesses narrow their focus and become well-known for one thing instead of trying to stand for everything. This makes gaining repeat customers who love your brand a lot easier.
How to Find a USP for your Event Business
The process of figuring out a unique selling proposition won’t be the same for every business. Here are several tips that can help you determine a unique selling proposition.
Ask “What is your Business Good At?”
Don’t say everything! Think of what comes to mind first. What is your business about? If you excel at high-quality events, don’t try to be known for quality and low-cost events.
Use Event Reviews and Surveys
Having event attendees fill out a survey after an event can give a lot of important data to inform a unique selling proposition.
What do attendees appreciate the most about your events? Is it the price? Maybe they appreciate the gift bags with free samples. Using survey and review data can help narrow your focus.
Do you have user personas? In addition to event surveys, creating user personas can be helpful when figuring out a unique selling proposition. If keeping user personas in mind, you’ll be more likely to develop a USP that appeals to them.
Is there a certain clientele your events cater to or could cater to? Narrow your target audience by specializing in something more specific. Ideally, this should be something the competition isn’t specializing in.
For example, if you hold paint-and-sip events, you can consider something like paint-and-sip for professional women. This way you focus on appealing to a certain group of people (professional women) instead of everyone. By narrowing your target, it’s more likely you’ll have a stronger effect.
Make Sure There’s a Market
Another important piece of a good USP is the presence of a market that is interested in your USP. If you specialize in events for a specific group, but there isn’t a need in that group, you’re going to have a hard time selling.
Keep it Simple
Your USP shouldn’t leave customers confused or be impossible to explain. If it’s not simple, chances are people will have a hard time remembering what you’re trying to become known for.
Promoting your Unique Selling Proposition
When it comes to marketing your event business, a unique selling proposition helps keep your campaigns focused. Every marketing campaign should answer the question “what is the specific benefit that sets you apart from competitors?” A strong USP can make marketing campaigns more effective.
Once you find this unique selling proposition, your website, communications, social media, and more should align with this message. In addition, direct outreach and advertisements should target an audience that might be interested in your USP, for example, women professionals in the previous example.
Developing a unique selling proposition (USP) can align event businesses with a specific market and make selling event registrations easier.