4 Tips to Help You Update Your Product Positioning and Target Market
Julia Westfall
Supporting Female Entrepreneurs through Education, Mentoring and Collaboration | Female-Focused Coworking | Hera Hub DC | Business Accelerator | Building a Community of Like-minded Women
“It’s much easier to sell a painkiller than it is to sell a vitamin.” – Felena Hanson
If you’ve been reading my earlier blogs, “3 Tips to Help You Rediscover You Customer” and “3 Tips to Help You Rework Your Business Model,” the next step is to use that information to adjust your target market and product positioning.
Now is the time to focus on the benefits that your customer will achieve by working with you. Below are my 3 tips on how to do that:
- Write out who is your target customer in 3 words. It’s hard, but it will force you to really narrow in. Be as specific as you can.
- Identify the problems your products are able to help them solve. What are the trigger points that will make them buy from you? Remember, painkiller vs. vitamin.
- List the benefits your clients will achieve from working with you.
- Develop a new positioning statement using this above information to complete the following for your business.
For _____________ (target market), _______________ (your company name) offers ___________ (services), which in turn does ____________ (true benefit)
It’s critical that you include the benefits that your customer will achieve from working with you since that will inform any new messaging you will be creating to reposition your products and services. Your target market needs to understand that you are able to help them solve the problems they have in their business.
Here is an example of Hera Hub’s positioning statement:
For entrepreneurial women, Hera Hub offers a coworking space and business accelerator, which provides members with a professional, productive platform to build a prosperous business.
Here is a short video on this same topic.
Additional videos are also available at the links below:
“Reworking Your Business Model”
You can reach me at [email protected] if you’d like more information about joining our growing community and the many programs we offer to help you build your business.
Hear from other Hera Hub Members about their experience with our community.