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Gypsy Rose Lee recognized the importance of marketing.
She knew that everybody needed to have an "angle." This "angle"
would give her a better chance at being successful since it would enable her to
be perceived as "different" from the
rest of the..uh..er… folks
making their living in the same industry.
In marketing parlance this "angle"
is known as "positioning." This term refers to the way the buyer views
your product on its own merit and relative to the competition. To repeat, positioning
has nothing to do with how you, the seller, view the product, but how you know (through research)
or perceive (through conversations and experience) potential and current customers
view (position) your product in their minds.
A unique selling proposition - Tells how the product is meaningfully different
from competition.
Benefit(s) statement(s) - Tells how this difference makes the lives of potential
customers easier.
Reason(s) to believe - Tells why potential customers should believe this product
will deliver the promised benefit.
Customers are complacent and busy! -
Let's be honest, most customers are likely
already using some other product in lieu of yours and are probably pretty satisfied.
Further, they are likely not waiting and watching for your company to come out
with something new. If your product can provide a unique and meaningful solution
to improve their life they will be much more likely to consider switching. If
not, your message will not even register on their radar. (Note: If these meaningful
differences are proprietary and sustainable they will result in long revenue streams
for the company.)
Customers buy benefits and results -
Customers don’t buy patents, features, processes,
etc. If they don't quickly understand and relate to the benefit of using the product
they’re not going to buy it. If the benefit is not overt, "in-their-face"
it really isn't there at all!
Customers are wary -
There has to be solid "supporting evidence" for
customers to believe that your product can and will deliver the promised benefit(s).
Create internal direction -
If the company knows what the product is (and what
it isn’t) then time, financial, and human resources can be focused on work and
ideas that are going to enhance that positioning.
For example, since Domino’s
Pizza positioning is about quick delivery the company is likely to invest in faster ovens,
but NOT in better-tasting, higher cost cheeses
and sauces.
Maximize marketing spending -
When a product positioning is clear and consistent
over time then communication to external and internal audiences is extremely cost
effective. This is a result of the audiences being exposed to the same, clear
message. Each exposure builds and leverages on the previous (and previously paid
for) exposures.
Keep
you focused on the market - In order for a firm's internal efforts to succeed
they must continue to satisfy a need in the marketplace. The periodic exercise
of defining and evaluating the positioning of products demands that these
efforts happen with market and customer input - not in an internal vacuum!
So
take a look at how your key products are positioned in the market. Do they each
have an "angle" that sets them apart from the competition? Is this difference
meaningful and important to your potential customers? If so, great. If not, it's
time to call Mosaic.
Remember, Mosaic creates customers and increases sales for business-to-business companies through specific project work, on-going retainer assignments or marketing coaching sessions.
Until
next time.....
Rosemary
Walter
847-483-5018
Rose1Walter@MosaicMM.com

Quote
of the Month
"I don't know the key to success, but the key to failure is to try to please everyone."
— Bill Cosby
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© 2004 Rosemary Walter, all rights reserved. You are free to use material from Mosaic's Monthly Marketing Tips in whole or in part, as long as you include complete attribution, including a live website link. Please also notify me where the material will appear. The attribution should read:
"By Rosemary Walter of Mosaic Marketing Management, Inc. Please visit Rosemary's web site at http://www.MosaicMM.com for additional marketing articles and resources on marketing for business to business companies." |