How can you improve your pricing and packaging with better positioning?

Experimentation, Optimisation & innovation are the realities of the business, Booking .com’s 25K annual tests are a market leader's secret to success, Use AI, data, & tests to refine pricing & packaging for your audience for example AI tools: - Price Intelligence Tools: Tools like Price2Spy, Prisync, and Competitor Monitor - Sales Analytics Platforms: Tools like Tableau, Power BI, Customer Insights and Segmentation: - Customer Analytics Platforms: Kissmetrics or Mixpanel - Persona Generation Tools: Tools like Xtensio or HubSpot - Conversion Rate Optimization Tools: AI-powered tools like Optimizely or VWO - Social Media Listening Tools: Tools like Brandwatch or Talkwalker

Positioning can make or break your brand. Positioning is your opportunity to create a unique advantage for your business. It uses the power of perception because the position you take in the market is the frame by which your audience now sees you. This creates opportunities where you can highlight the benefit of your business, what makes you different, the value you provide, or simply a signal to resonate with your ideal buyer. Your positioning will give clear guidance for the rest of your brand when it comes to marketing, experiences, messaging, and more.

The main aspect of positioning is association. To properly position, you must obsess on the obvious and subtle associations that our brains make with certain word choices. As you position your product or service, you need "footing" within the mind of your audience from them to grasp. If the positioning is too foreign or abstract it will simply fade away. True positioning is more like scaffolding as you gain a grip in the mind, you must help manage where the associations are made and avoid where they shouldn't be bonded.

Positioning, when done properly, creates more accuracy to the specific situation your buyer is in. This means your position not only addresses them more specifically but also is more valuable since it is more relevant to the buyer's distinct needs. This increased perceived value makes the buyer more willing to pay a premium more often.

Positioning makes the packaging and presentation of the offering more intuitive and precise. By having a proper position, you'll know exactly which attributes to lean into whether that is material, messaging, colors, graphic elements, etc., and which to counteract because you will be more in harmony with the desires, feelings, and situations of your audience.

When you determine your position, pricing, and packaging, you'll have brand clarity on how you strategically approach the market. This not only makes you distinct but also confident in how you uniquely portray your value to your audience. This can be accomplished through "signaling" where you communicate these attributes. The position you take in the market says something about you. The price you set says something about just as the way you present and package your offering says something about you. As Walt Disney would say, "Everything speaks."