Positioning Your Company in the Market
Entrepreneur defines positioning as a process of differentiating your product or service from that of your competitors and helps you to determine which market niche to target.
Positioning is how you put your service or products in the eyes of your ideal customer. It’s a complex, but necessary step to take when setting up your business for success. At first, when you are launching your business, you can only guess and have a “theory” on positioning your business in the market.
Once you have a number of customers and you get a clearer picture of how your product or service helps them you can fine-tune your messaging and work on the actual positioning strategy.
You need to understand
- Who are you selling to?
- What is your customer really buying from you?
- What your unique value is?
- How are your services and/or products better than competitors?
- Who are the competitors’ comparables are?
After gathering all the answers and data necessary to create a proper positioning strategy:
- Create a positioning statement and describe it with 2 to 3 sentences
- Use this statement wherever your business is present - on your website, social media accounts, sales decks
- Educate your team, help them understand the positioning message, so they can easily convey it to the customers
- Test your statement - check if it speaks to the ideal customers, and fine-tune it until it speaks directly to their needs and wants
We solve the following problems on the topic of POSITIONING:
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How you position your self in the market
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Getting the positioning of your business right is one of the hardest nuts to crack!
As always we have talked to experts and thought leaders so you can learn from them and you do not have to fall into the same pitfalls.
In episode 58 of the How We Solve podcast we talked to Nadine Artemis about how she rebuilt her business after a tragedy that hit her.
On episode 30 of How We Solve we have Jeroen Corthout, co-founder of Salesflare and we talked about sales automation and how to free your time.
On episode 23 we have Andrew Zhao and he talked about LED lights shows as performance art, the right tools, ingredients, and exposure so these shows are seen as mainstream art.
On episode 21 of HWS podcast we talked to Robby Blanchard, founder of Commission Hero. Robby shares advice for new online business owners. He has a two step guide on how to prepare for the influx of customers.
On episode 20 of HWS podcast we talked to Rachel Jacobs, founder of Ecommerce Partnerships agency. She shared 5 most important plans every business needs to have in place during challenging times.
On episode 18 of HWS podcast we talked to Mike Potter on how to build a company based around customer satisfaction.
On episode 17 of HWS podcast we talked to Mark Organ about category design and how that helps brands position better on the market. Mark has also shared his 3 step process to successful category design.
In episode 8 of HWS podcast, David talked with Paul Klein, an expert in positioning and pricing. Paul’s main question that everyone should answer is: what is your worth? Once you have that settled, follow Paul’s 4 step positioning process.
April helps us understand the importance of brand and product positioning. She shares her unique positioning 5 step process with our listeners.
Useful resources on positioning
- Implementing Value Pricing: A Radical Business Model for Professional Firms, by Ronald J. Baker
- Obviously Awesome: How to Nail Product Positioning so Customers Get It, Buy It, Love It — by April Dunford
- Pricing Creativity, by Blair Enns
- Positioning: The Battle for Your Mind — by Al Ries & Jack Trout
- The Four Steps to the Epiphany, by Steve Blank
- The Jobs-to-be-Done Handbook: Practical techniques for improving your application of Jobs-to-be-Done, by Chris Spiek & Bob Moesta
