Strategy | 5 minute read
Want to build your customer base and brand loyalty in the B2B Telco industry? Then you need to give your target audience a clear reason to choose you over your competitors.
Spending the time defining your value proposition or unique selling proposition (USP) is one of the best ways to differentiate your business as it illustrates the value you provide.
Once you’ve clearly defined your USP you can ensure your marketing and branding consistently communicates your value to customers. This is particularly important in an age where B2B buyers do 70% of their research on websites and social media.
Read on to discover how to define your B2B USP and the best ways in which to communicate the value your uniqueness brings to customers.
What is a USP?
A unique selling proposition is a unique benefit that makes your B2B business stand out from competitors. Quite simply, it’s the thing that you do best as a business, the factor that makes you the best choice for your target audience.
Examples from the Telco industry include unrivalled industry experience, industry-leading product knowledge and expertise, first-class customer service, and a proven or award-winning track record of solving customer pain points.
Not only is a clearly defined USP an effective way to increase your customer base, but it can also give you a competitive advantage when you’re looking to attract investors or recruit the best talent.
How to define your USP
A good starting point for identifying your strengths as a B2B business is to undertake a SWOT analysis. This is the process of evaluating the following factors:
- Strengths – your brand’s core strengths and most effective competencies
- Weaknesses – areas in which your business is lacking or has a weakness
- Opportunities – potential new areas of focus (e.g. audience sectors, events, and leads)
- Threats – anything that may have a negative impact on your business (e.g. competitors)
Completing this research will help you identify the key features that make you a better choice for customers. It also helps ensure that you choose a USP that is deliverable.
Comparing your business to your competitors is a great way to highlight your strengths and weaknesses. Analysing their website, promotional materials, and social channels can be an effective way of identifying potential gaps in the market that could help to distinguish your brand.
Keeping up to date with the ever-evolving Telco industry can also put you in a strong position to gain a competitive advantage by being the first to jump on new trends and ensure your business plan is market-leading.
Know your audience
It’s important to consider your target audience and what motivates their behaviours and decision-making. Asking existing customers and suppliers to complete a short survey can identify the value they see in your business.
How to communicate your USP
Once you’ve discovered what makes you unique, you can set about communicating the value that uniqueness brings to customers in the following ways:
- Branding: USP research can often lead to a re-branding initiative to ensure that your company’s look and feel is in line with your key messaging
- Slogan: Some businesses create slogans that explicitly state their USP, such as Geico’s ’15 minutes could save you 15% on car insurance’
- Marketing campaign: In the same way you might run a campaign about a new product or service, you can create one to promote your USP
- Social media: Over 50% of B2B decision-makers search for info on social media, so be sure to flood your channels with USP messaging
- Social proof: 85% of buyers read up to 10 reviews before feeling they can trust a business so don’t dismiss reviews and customer case studies