It seems like a lot of work to create a position in the marketplace. If you just start advertising, you can hit the ground running. But without a strong positioning strategy, will your marketing messages attract the right people? Can you continue to fine-tune your advertising to speak to your customers and prospects without endlessly repeating yourself?
Here are 6 questions to develop your product or service position:
- What does your prospect want? People don’t want products or services. They want solutions to their problems. Just as people don’t want a drill or even a hole – they want to hang a shelf. They really don’t even want a shelf. They want to put things out of the way or to decorate their home. What problem does your product or service solve? What is different about your solution that makes you stand above the crowd?
- What position can you own? If the spot at the peak is taken, how can you differentiate your product or message? Some will say that if you can’t be in first position, don’t bother. Markets are fickle, so there’s probably a place for your unique offering. What can your product do that no other does as well? Save the whales? Delicious taste and low calories? Find a hole in their position and fill it.
- Who are your competitors? Don’t go head to head with the giants in your market. You can’t win. Even if you make headway into their space, they can beat you with their deep pockets. Your position needs to fill a gap that they don’t bother with.
- You decide the competition is worth battling. Can you afford to compete in that space and still make a profit? You may have created a healthy cola drink. Is it wise to go against the behemoths in the soft drink industry? Instead, target the people who concentrate on what they drink to keep themselves satisfied and healthy.
- Can you persevere? It’s important to own your position in the market as a strategy. Use the position when crafting every marketing message, advertisement, email or social media post. You can fine-tune the tactics when you stay true to your marketing position.
- Is your position evergreen? When you claim your place on a trail less travelled, be sure to have enough room to make a comfortable camp. Can you develop messages that support your product’s position throughout its lifetime?
Determining your product, service or company position in the market can take time. Once you have a firm grasp on your position, you use it to create a strong, consistent marketing strategy. You can stay on the path to success without fear of slipping over the precipice of slow or no sales.
For a free, no obligation look at your marketing position and strategy, schedule a call here.