Unique Selling Propositions for Saas: Stand Out or Go Home

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abdulahad
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Unique Selling Propositions for Saas: Stand Out or Go Home

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What if your SaaS company’s website doesn’t bring enough leads? Or maybe it brings you the wrong audience? There’s one thing that may help you solve these problems (apart from having a solid marketing plan, of course). It is a simple three-word phrase and it can put you in good stead. Unique Selling Proposition (USP). Let’s discuss the USP and its benefits. What Is a Unique Selling Proposition? Let’s start by taking a look at how Unique Selling Proposition is defined across a few sources: Business Set Free defines a Unique Selling Proposition, or USP, as “the reason that you give for why people should buy from you and not from the others.” This is a simple and accurate definition. If you want a more sophisticated definition, here is one from the Entrepreneur. The USP is “the factor or consideration presented by a seller as the reason that one product or service is different from and better than that of the competition.

Unique Selling Proposition matrix This USP accurately shows how the product differs from the others. (source: contentful.com) In other words, we can say that a Unique Selling Proposition is what your business stands for.Phone Number List It highlights your business and shows why it is unique. Here’s another example of a USP, where the target audience is immediately clear. Github Unique Selling Proposition (source: github.com) How Can a USP Help You in Promoting Your SaaS Business? You probably already have a good idea of the advantages that a USP brings to your cloud-based business. So, let’s clarify them. The first and most obvious is that a USP will allow your product to claim a unique place in the market and stand out among competitors. Kissmetrics’ article, “What a Unique Selling Proposition Really Means & Why Your Business MUST Have One,” provides the very clear example of Zappos, an online retailer. It says, “Zappos has a unique selling proposition that is quite simple: have the best return policy ever. A return policy that removes the fear of buying online and buying shoes that might not fit.” Here is how Zappos “bribes” its customers: Zappos Unique Selling Proposition Zappos stresses the uniqueness of their service in the form of their USP.

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This has allowed them to claim their place in the market and become one of the most popular online stores in the world. Another benefit of having a USP is that your sales efforts will always be targeted successfully. Vend, a retail point of sale (POS), inventory management, and e-commerce cloud software, provides an excellent example. POS, Vend, Unique Selling Proposition source: vendhq.com They accurately define their audience and aim precisely at the type of customers they need who will benefit from their product. This helps not only raise sales of the product but also access the customers who are most in need of your SaaS solution. The creation of a USP makes sense not just for the improvement of your product’s promotion. Managing a SaaS business without a clear Unique Selling Proposition is next to impossible. Corbett Barr, co-founder and CEO of FizzleCo, states, “It’s possible, but definitely not as easy. And success without a good USP requires better product development and promotion, along with some outside factors (maybe a little luck).” Of course, you can always invest large amounts in product development. But this does not guarantee you success. And it is obvious that relying on luck and word of mouth is not the best plan. In fact, today the buying process begins earlier than ever and often excludes the company selling a product for a long time. A fact confirmed by CEB’s research, “buyers have (on average) progressed 57% through their buying process before they engage a salesperson.” Purchase Process Before Engaging Sales source: cebglobal.com This means that you need to have something to catch the attention of a potential customer and make him choose you as a solution provider. In addition, according to the “Research In Action GmbH” report, having a clear USP equates to 35% of a successful marketing strategy. Research on Differentiation source: sumerian.com If you understand the significance of marketing, you must have a USP. How to Define Your USP According to Entrepreneur’s article, “Unique Selling Proposition,” you need to “Put yourself in your customer’s shoes.” This means that you have to try to think like a potential customer. You should attempt to understand what it might take to make him choose your product instead of a product from one of your competitors. This will help determine the value of your product for your audience. Here is the example of Basecamp, a SaaS management tool. You can see how their USP expresses all
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