Market Position
ABOUT
Positioning is the place in the consumer’s mind that you want your brand to own. It is the benefit that you want your consumer to perceive when they think of your brand. And it must be different to your competitors’ and be defendable.
It isn’t enough merely to be different from the competition. It’s important to be different from the competition in ways that matter to your market/buyer persona.
To thrive and grow in today’s competitive landscape you need to find spaces in your market for which there are fewer or no direct competitors. It is a different approach from the traditional attempts of beating the competition with price and quality improvement wars.
And because our brains love to find things that are new, unusual or unexpected ? a brand that is unique will grab attention and have an advantage over its competition.
You can choose to have one overarching positioning statement or multiple positioning statements for each of your products or services.
The 4 parts of a good Positioning Statement:
- Target Market: Your ideal customers or clients
- Category: The category of your business, product or service.
- Differentiation: One single defensible point of differentiation stated from your ideal customer perspective.
- The Payoff: the value your point of differentiation provides for the customer.
Apple Positioning Statement:
For individuals who want the best personal computer or mobile device, Apple leads the technology industry with the most innovative products. Apple emphasizes technological research and advancement and takes an innovative approach to business best practices — it considers the impact our products and processes have on its customers and the planet.
1. We clearly understand our position in the marketplace in relation to our key competitors and we are able to easily explain and defend it in language which resonates with our ideal clients.
Why is this item important?
‘Find the buyer first’ – business starts here. Every successful business identifies a problem that exists for a specific buyer and then creates a new solution – one that is better than what currently exists. The clearer you are in articulating this problem and how you solve it, the more your ideal client is attracted to you. This includes explaining how your solution is different and how it more exactly meets their needs.
If you look and sound the same as all your competitors, this difference is not highlighted. By identifying what sets you apart you give your clients a clear picture of what to expect and a reason to engage with you. Without this, you merely look the same as everyone else and leaves the question open – why choose you?
How can I tell if I meet this item in my business?
- Your ideal clients flock to you rather than your competitors.
- Your client list is full of people you love to work with.
- The language you and your staff use resonates with your clients – they keep coming back.
- Your products, services and achievements are clearly defined.
- You know who your competitors are and how you are different.
What do I need to do to meet this item?
Be very clear on the value you deliver to your clients. This requires creation of a number of documents, identifying your ideal clients and how you serve them. These define your Market Position and are part of your overall Marketing Strategy.
They include:
- Business Value Proposition – include the ideal clients for your business, what their problem is including their needs, wants and desires and the value your product brings in solving that problem and meeting those needs. This is at a high level.
- Brand Promise – Encapsulates how your business serves; how you are different from others; what you promise to deliver. This is your promise to your clients.
- Positioning Statement – This is a concise few sentences that describe how you want your brand to be seen by others. This is for internal use – it allows you to assess your marketing strategies against your brand promise and core values. It describes your ideal client, the problems they have that you solve, your solution, how this is different from your competitors and how this fits with your brand promise and values.
- Capability Statement – this is a more detailed document that sums up the scope of the work you do (capabilities), your achievements, your skills, your accreditations and your associations. It includes what you offer to your clients, what sets you apart from your competitors and what you have achieved to date. This is written in a style that resonates with your clients and is shared with them.
Use your Market Positioning Statements to determine the voice of your business and how you communicate with your ideal clients.
Seek feedback from your clients to ensure you know what they think of your products and services.
Adjust your offerings based on feedback to ensure ongoing alignment with your ideal clients.
Research your competitors and ensure you are maintaining differentiation from them.
2. Our logo, website, social media presence and all our marketing and advertising collateral clearly demonstrates how we differ from our competition in ways that resonate with our ideal clients
Why is this item important?
There are two parts to this statement – firstly, you need to have consistency across all media to connect your business with your ideal clients; secondly you need to show how you are different from your competitors. How you present yourself across the full range of media dictates how others feel about your business, which in turn influences their engagement with you.
How can I tell if I meet this item in my business?
- When you look at your collateral, it clearly shows a consistency throughout. You emphasise your specific strengths and the market you work in, as distinct from your competitors.
- Your Market Positioning documents are consistently applied throughout all media.
- Your logo conveys your style and appeals to your ideal client.
- Your website clearly articulates what you do and who you do it for, as well as giving your website visitors a clear pathway to connect with you.
- Your social media presence is congruent with your Market Position.
- Marketing and advertising collateral emphasise your strengths – the things that set you apart from your competitors.
What do I need to do to meet this item?
- Review your collateral for consistency.
- Ensure your logo matches the style of your ideal client.
- Ensure your visual brand elements and font are consistent with your logo.
- Review your Website regularly:
- Clearly show your ideal work and ideal clients, ensuring you are on-brand with your messaging
- Keep it updated with your achievements
- Show your specific expertise with ongoing articles or photos of your work – choose an appropriate medium for your profession and clients.
- Highlight points of difference from your competitors.
- Social Media – Have a strategy for use and follow this consistently
- Choose media your clients regularly use.
- Create a Content Calendar for the next 12 months, with topics that resonate with your clients and are relevant to your business and time of year.
- Align images and comments with your Market Position.
- Demonstrate your Brand Promise and Business Value Proposition with posts.
- Share your business personality.
- Respond promptly to comments made on your social media channel, both positive and negative.
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- Align images and content with your Market Position.
- Clearly convey your Brand Promise and Business Value Proposition throughout.
- Ensure it is very clear what you do and how this is different from your competitors.
- Appeal to the style of your ideal clients.arketing and advertising collateral – Be clear on the purpose for each component.
3. We have clearly documented positioning statements for our company and our core products and services which clearly states the business category(s) in which we compete and our point-of-difference from our competitors in ways that are meaningful to the needs, wants, and desires of our target customer
Why is this item important?
It is how you differentiate yourself in the market. It defines what you do and why, including the benefit your clients receive from working with you. It allows your potential clients to align with you and select your business to work with. It also shows your employees what is important to your business and sets the tone for their interactions with your clients.
How can I tell if I meet this item in my business?
- You have Market Positioning documents which clearly show your core products and services, who these are for and how they are different to your competitors.
What do I need to do to meet this item?
- Develop positioning statements for your business and core products and services. These are summed up in your Capability Statement and are related to your business goals, values and brand promise.
- Ensure you include the needs, wants and desires of your ideal clients – your business is based on this and the position of your products and services is to meet these needs, wants and desires.
4. We have evidence that supports the point-of-difference claims in our Positioning Statements and can defend them.
Why is this item important?
People like to hear from others and follow their lead. Testimonials give your business credibility, as do trust marks such as association memberships, accreditations and awards.
How can I tell if I meet this item in my business?
- You have genuine testimonials from clients and you display these.
- You display your trust marks in public – on your website, in your email signature, in your brochures, on your walls and the like.
What do I need to do to meet this item?
- Request feedback from your clients – have a specific process for this and use the comments to highlight what you are doing well and to improve where this is indicated. Continually align with your clients requirements.
- Encourage reviews – on independent websites as well as showing testimonials on your own website.
- Showcase completed work and case studies to highlight your capabilities and demonstrate the specific problems that you solve.
- Highlight the Associations, accreditations and awards you hold that add credibility to your Market Position.
5. Our Positioning Statements are included in our marketing plans providing the foundation for how we want to be perceived by prospects, and for the outward core messages we deliver in all our marketing activities.
Why is this item important?
Your Marketing Plan directs your business marketing activities. By including your Market Position documents, you ensure your marketing activities align with your core business values and as a consequence, appeal to your ideal clients.
How can I tell if I meet this item in my business?
- You have a Marketing Strategy which includes Positioning Statements for your business and core products and services. These include your:
- Business Value Proposition
- Brand Promise
- Positioning Statement
- Capability Statement
- Your marketing activities are devised in line with these statements, so they align with your target market.
- Your ideal clients respond to your advertising and connect with you.
What do I need to do to meet this item?
- Develop your Marketing Strategy together with your Market Position statements for your business and core products and services. Include your:
- Business Value Proposition
- Brand Promise
- Positioning Statement
- Capability Statement
- Ensure alignment of all marketing activity with your Market Position, so you attract your ideal clients.
- Differentiate yourself from your competitors – stay true to your identified core business values and brand promise.