So, you’ve picked your market segment and decided how to target it, now the all important step of ‘positioning’. What is your value proposition to your customer? You should address the customers’needs identified in your market segmentation. It should be in your customer’s terms, not yours. It is not what you do, but what you do for them. It’s not a description about the features of your products or the capabilities of your services, but a statement about the benefits and value that you provide.
Your positioning should also differentiate you from the competition. Not only how you are unique, but why that is better for the customer. That unique value will not only allow you to win the business, but with momentum, charge a higher price for that value. Ways to differentiate include:
- Price – not necessarily lower price, but higher value
- Product – higher quality, new/first, specific feature,
- Service – faster, local, reliable, customize
For more information about differentiating your business, check out Powerhomebiz.com.
Eventually, you’ll capture that into a positioning statement. There is a well-known template for creating your value propostion:
For customer, who have needs, this product/service does benefit. Unlike alternative, our differentiation to deliver unique value
The Small Business Marketing Guide has some good information on writing positioning statements.
Got a good example of a positioning statement. Let’s hear it.