Positioning – create the reality in the mind of your customers

“Your premium brand had better be delivering something special, or it's not going to get the business.”
Warren Buffett -  2nd Richest man in the world, & Philanthropist

Many businesses miss the mark completely.

They don’t position their product appropriately, and don’t even answer the fundamental points first (in the eyes of their prospective market.) What does your product do? Who should buy your product, and why should they choose your product over the competition? This is also applicable to service offerings as well.

It is time to take a closer look at your product's positioning messages. Evaluate your current language against the following tips and see if your company has fallen victim to poor product positioning:

Be clear about who your buyer is and what problem your product solves or key benefit it provides

Don't try to be everything to everyone. It’s not going to work anymore. If you still think that everyone breathing is a potential client, think again. Not only does this dilute your positioning and cause longer term brand damage, it simply confuses prospects. Or worse yet, doesn't have an impact at all.

If you aren't giving them context around their specific needs and how you uniquely meet them, they cannot apply your proposed solution to their situation. They'll simply move on.

It is also critically important to be specific about what makes your product unique and how it solves your prospect's problem or benefits them.

“Sometimes the situation is only a problem because it is looked at in a certain way. Looked at in another way, the right course of action may be so obvious that the problem no longer exists.”
Edward de Bono - Motivational Author and Physician

Your prospects don't have the time or energy to guess if your product could help them. Use clear, precise language and tell them specifically why they should purchase your product. Avoid industry lingo and acronyms.

Although you may think they help show you're "in the industry" and entice prospects, they tend to have the opposite effect, resulting in confusion or a "so what" response. And always include a list of unique features and benefits to further amplify why your product should be chosen, but avoid the "me too" features that are expected in a product or service like yours. It's wasted real estate. (Remember a feature describes an aspect of the product—what it looks like or what it does. A benefit describes what positive results the product brings to the person or organization that uses it.) Marketing tip – always ask yourself (from the customers perspective) WIIFM – what’s in it for me?

If your product is mediocre, you can't fix it with positioning.

“The lifeblood of our business is that R&D spend. There's nothing that flows through a pipe or down a wire or anything else. We have to continuously create new innovation that lets people do something they didn't think they could do the day before.”
SteveBallmer – CEO Microsoft Corporation

Make sure that your product positioning is both accurate and a compelling description of your product. This means you should never over-promise (or undersell) any aspect of your offering. If you find yourself putting an exaggerated spin (some people call this marketing – incorrect, it’s called lying – and we all know what happens to liars!) on your product description—for example, listing unproven, untested, or "stretch" features and benefits — ask yourself if your product is strong enough to solve the true market need. Really? It’s very competitive out there, are you sure?

If your product is inadequate and not the better choice for your prospects, there is no possible way to position your product to mitigate the gap. You need to rethink the proposition, or develop a better product.

Product positioning is a powerful marketing tool and when done correctly. It results in higher product sales, more successful promotions, and—most importantly—a loyal and satisfied customer base. Just as your company's positioning language must be audited regularly, so should your product's positioning. Taking an honest assessment of your product and how it is positioned is an essential piece of your marketing strategy.

It is foolish to expect success from your product promotions when no one understands exactly what your product does, for whom, and why it is a better choice. And you’re not a fool are you?

“Customers today want the very most and the very best for the very least amount of money, and on the best terms. Only the individuals and companies that provide absolutely excellent products and services at absolutely excellent prices will survive”
BrianTracey - Motivational Coach and Author

Your level of success is only limited by yourself.
 
Best wishes,
    
Vaughan