 A Positioning Strategy is how you want to be perceived in the minds of prospects versus your competition. It must clearly distinguish you from competitors and make it obvious you are the best available choice.
The positioning strategy must be based on the value prospects (in a particular market segment) expect to receive relative to and unique from your competitors as it relates to addressing specific customer decision making criteria. It must be all about what’s important to “them” – YOUR PROSPECTS.
The first step in developing a winning Positioning Strategy is to develop an in-depth understanding of target prospects and competitors. This provides the insight required to clearly distinguish yourself versus all of the available choices. To develop an effective Positioning Strategy, the following questions must be answered:
What sets us apart as it relates to the prospect’s Decision Making Criteria and Hot Buttons?
Based on what prospects deem most important in making a buying decision (logic), or the hot button issues that drive the initial interest (emotion), what do you specifically do that’s unique or better?
What makes us unique or superior versus competition?
If competitors have a distinct weakness, especially in industries with a poor reputation, a winning Positioning Strategy may be to highlight your strengths in areas where your competition is weak.
Are we a leader or visionary, is there something innovative about what we do that sets us apart from competitors?
If we’re able to re-define the rules of the game, or to introduce a new way of doing things, this may place us in the industry leadership or visionary position.
A few things to consider about a winning Positioning Strategy.
It’s very important to have one. If you can’t clearly articulate how and why you’re different, no one else is going to do it for you. The risk of not having one is you may be forced to compete on price.
Always remember your competitors are trying to figure out how to get better and get a leg up. You must continually assess whether a particular Positioning Strategy is still valid and, if not, adjust it accordingly.
If you can’t pinpoint anything unique or superior about your business, then you have a much bigger problem – you’re just like everybody else. You can’t be satisfied with being a “me too” business. If this is the situation you find yourself in, you must INNOVATE. The only alternative to innovation is to compete on price, which is something few businesses willingly choose to do.
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