Market positioning, 6 steps to define your strategy!

Market Positioning | Blog - Queeco

Market Positioning

Positioning your company within the market is a tricky business. If your competitors are better known, with a better cashflow, then to achieve the success you dream about some simple rules should be followed.

Define your individuality.

Work out the differences between you and your opposition. Compare your market positioning strategy, and the way you communicate, with the way the competition does theirs.
And then take advantage of diversities and use them to their full advantage.

Tell your unique story.

Use every resource available to determine your place and the positions of all your competitors.
Exploit the differences, then determine your market position to empower you to compete for a bigger share.

Find your best audience.

Broadcast your position to your audience. Make your solutions known. Some companies even use the names of their opposition in their keywords for paid-for online advertising, such as Adwords.

Ensure that your message, or messages, are understood. If your target audience doesn’t understand you, then you’ve lost them as potential clients.
Maybe it’s your misunderstanding of your business or products?

Determine your target clients and their product solutions, then you can determine which clients are best served by your offerings and will represent your market segment. Which clearly will be best served by you.

You can’t please all of the market all of the time.
You need to rely on your clearly defined market segment and craft your offering to serve it in a unique, meaningful way.

Define your brand and what it stands for.

What value does it offer? Does it fill the genuine wants and needs of your client base? From there, determine your brand positioning strategy, and go with it.

Try to tell a unique story. In all probability, your competitors are all saying much the same thing. Whether it’s a low-price point or the most innovative products, find a different tale to tell. It could be ease of use, or high service levels, on-site servicing or a reasonably priced online offering. Milk it to the limit before it is copied.

Ask your clients what they would like to see from your business.

Gather the ideas, sort the wheat from the chaff, and use the ones that will work best for both you and your customers.

Chances are that your opposition already occupies the market position that you would like to slot into. Don’t try to liken your brand to theirs. Imitation is the sincerest form of flattery but could weaken your brand rather than strengthen it. Find a different or similar slot and work at making that your own.

Branding and brand awareness take time and need that time allocated to it. Search the web for ideas, pick your clients’ brains. Work it out and make it work for you.

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