"Power Punch of Positioning"
Javed Ahmed Siddiqui
Author | Area Head Business at Reliance Jio | Views are Personal
?Most Customer doesn't know exactly what they want and need until you show and present it to them, Customers mind works and understands Product by comparing them to other products. So, injecting a mental comparison between two products is often effective in fixing something in mind. Since the Customer's mind already knows one of the things, it can more easily understand the new thing. This phenomenon is generally known as Positioning or Product positioning.
?Product Positioning is the concept of associating and developing a?mental position?in the Customer consciousness about your Product and brand; Since Customer minds are so stuffed with information, Product Positioning becomes the most critical Sales and marketing tool in developing a unique position for your Product and brand in the mind of customers.?
?You can provide the?best,?cheapest, or most comprehensive, but you?can't offer all three.
?This is your "Final?why"—in the Customer's mind is always essential; why does your product exist? How do your customers see themselves using your products to improve their lives or solve their problems?
?Rather than leaving your product positioning to chance, create a proper product positioning strategy before any placement. You should know that what you're ultimately looking for is to be known in the mind of your customers.
?Start thinking about your Product position in the market and what and where it should be. Sort that out. And work to establish a detailed, concise image. The simpler the position, the more memorable it will be in your potential Customer's eyes and minds.
?Over Here, whether you're a small business start-up or a Big enterprise organization and you might be launching your first or hundredth Product, there will always be many do's & don't and many priorities to be taken care of before taking your big idea or new Product to the target market. These are firstly you have to decide. How will you go to sell your Product in the market? "Your Sales Vehicle" What digital platform do you need to create or acquire to promote it? Whom do you need to hire to help keep demand high and customers happy?
?Again, in simple words, product positioning is where your product or service fits your targeted market. It all depends on how you communicate your Product's features that make it unique and how and why it's better than other available products or solutions in the market.?
?There are three fundamental questions to answer before creating your Product positioning strategy:
?· Who is your target customer?
· What's the most significant benefit and feature of your product or service to the Customer?
· What's the proof of that benefit? (Social Proof)
?It can be tempting to address these questions in one go only. Still, your priority should be establishing where your Product fits in your target market, how it's different from existing available products, and why your potential customers should care or look into it and finally buy it.
This is why product positioning plays a significant role in the market, and it's the most critical step for long-term success. Let's take a deeper look at positioning your Product in the market.?
?A straightforward product positioning definition is where your product or service exactly fits in the marketplace. If your customers don't understand and comprehend what your Product does for them and why it's unique, they won't buy from you. Hence product positioning solves this problem.
?Your Go-to-market plan starts from your product positioning only, the product communication that your marketing team creates for your sales team on how to speak to prospective customers. It will originate from your positioning plan only.?
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?Effective product positioning precisely guides your target customers towards your product and services and suggests to them how your product can directly and effectively address their needs.?
?Once established, promote that position. Take a zone and get that message out broadly before direct marketing. Get your idea firmly implanted into the minds of your Customer. Moreover, estimate the size of your market and identify your major competitors and how they're positioned.
?Your competitor's current market positioning strategy is the foundation of your entire product positioning journey – it's the first thing you should thoroughly analyze before you're started with your product positioning plan, and it's also essential when expanding or looking for a competitive edge.
?Understand the problems that your market is facing with the current competitors. Talk with prospects and customers of your competitors, and identify their actual wants and needs – you'll learn much about what you can deliver to solve their problems and beat your competitors.?
?Finally, create social proof by listening to your customers.?Don't create your Product or brand positioning in a vacuum. Always try to connect with your customers and listen to what they say. Set up focus groups, send surveys, or talk to customers at events and use all those insights to improve your message. Doing so will create a robust social proof of your Product in the market.
?One of the fundamental objectives of any business is to improve sales and generate more significant revenue. Having a relevant and well-positioned product in the market and communicating it effectively will help any product or brand in the market to achieve its objective.?
?Proper Positioning decides how your customers consider your product or service in the market against your competition. When your Product creates a positive image in the mind of customers, you're more likely to enjoy a more significant market share. Henceforth, you can claim your position in the competitive landscape, which helps you to stay ahead of the overcrowded curve.
?Finally, Create a tagline for your Positioning.?
?Once you develop a strong product positioning in the market, you can create a tagline to better connect with your customers. Taglines are essential because they embark customers' attention towards your Product; when customers listen to your tagline, they get a clear picture of your Product's benefits and features, which resonate with them.
??They are also used to reinforce a product's Positioning and give your product a distinct identity. Customers reciprocate with what you stand for and can better decide if your Product can resonate with them.?
?For example, these are some well-known taglines:
?You can easily use this tagline in other sales and marketing efforts to communicate better to your customers and get your business point across much more effectively than a longer and more detailed positioning statement.
?In the end, Proper Product positioning is the difference between being a household name or just another product trying to compete in an overcrowded market. After establishing your initial product positioning, always be flexible and willing to fine-tune your positioning strategies to ensure they get the best customer recognition and relationships possible in all your future sales endeavours.