Opening a new business is exciting. You have acquired the products you want to sell, your website is ready, and you completed the tasks needed to launch your business. But, do you know your position in the marketplace? Your marketing positioning strategy is your place in your industry. For example, if you are in the home remodeling business, you need to ask yourself what service you will offer your customers. Are you working with clients who flip houses or with people who own single-family homes?
When it comes to the familiar brands that alot of people are aware of and use, consumers are the ones that choose companies’ position in the marketplace. It is why some consumers go to a drive-thru when they need something quick and easy to eat and select fine dining when they want to have a celebratory dinner. It’s all about how consumers view your brand.
Analyze Yourself Against Your Competitors
Your competitors can give you an idea of what you can offer. Maybe your competitors don’t provide fast service and quality customer service at the same time. Then you can find a way to provide rapid service and show your customers how you can help solve their problems faster.
No matter if you are starting a local business in your city or planning to develop a million-dollar corporation within the following years, it is vital that your product and service provide a solution for consumers.
Postmates delivers food, drinks, and groceries. The delivery service company has partnered with over 500,000 merchant partners to serve its customers. It has separated itself from the competition by offering customers more options for delivery. Whether customers are in the mood for something particular from a restaurant menu or want groceries delivered, they can rely on Postmates. Other delivery service companies only focus on delivering from grocery stores or restaurants. Postmates saw a need in the marketplace and provided a service its customers needed. You can do the same for your business, no matter your industry.
Create A Positioning Statement
A positioning statement tells how your products, service, and overall brand will serve your customers’ needs in a way your competitors can’t. If you see a need in your industry and know that you can service your customers/consumers, you must convey that message clearly and concisely.
Once you have developed your positioning statement, your advertising and marketing should reflect your positioning statement when you launch. This statement will help you attract the right target audience that you are looking to shop and interact with your brand.
Changing Your Marketing Positioning
Once you have established your marketing positioning, it can be challenging to change it. And you can potentially lose your credibility with your target audience if you decide to change your positioning statement completely. As a business owner, you must be mindful that your customers and clients will change their lifestyles, which can directly impact how they use your products or services.
An example would be how the fast food industry has had to adapt to provide more healthy food options because more consumers were looking for healthier choices. Fast food restaurants started to include smoothies, salads, and wraps for these customers. Although they still held their positions in the fast food restaurant marketplace, they could still offer their customers something that adapted to their lifestyle choices.
You don’t have to change your entire position in the marketplace. Pay attention to the trends and lifestyle changes in your market to provide products and services that align with your customers and client base.
Check out these resources if you are still in the research phase of marketing your business:
If you need assistance understanding and developing your positioning statement, call Ringo Media at 877-294-4807. We will set up a free consultation on your initial call so that we can help you get your business on the right track.