USP: Find Your FOMO Factor

Every business has a FOMO (Fear Of Missing Out) factor that makes consumers break the barrier of space and time to purchase – such they cannot afford to compromise. (An example is the reason You prefer a mobile phone to other kinds). Otherwise known as Unique Selling Point (USP), every business must have their uniqueness, such that can sustain their existence in the market, as they make profit.

At times it could be the quality of the a product, the advert, the quantity, accessibility, CSR activities, Image, testimonials, identity etc. Whatever it is, the onus is on the comapny to know these things.

What Successful brands do to maintain constant dominance in the market is research (though some times called survey). Research don't just assist Your understanding of the market; it gives You with the ability to predict outcome and income, guides You on how to satisfy Your consumers and tells You what needs to be changed/to evolve (Most businesses run; competitive analysis, research on consumer behavior etc).

Businesses that don't understand the target market, will waste financial/human resources, or die a natural death.

The question is, how do You survive in the ever evolving world;

1. Review the relevance of Your USP to target market from time to time.

2. Engage both internal and external Marketing Communications tacticians.

3. Do internal and external market auditing.

4. Periodic Market Survey.

5. Get feedback.

6. Evolve and get more involved in the market, don't leave it all to the middlemen.