In this episode of the How We Solve podcast, we talked with Burc Tanir about how to always have optimized prices on your e-commerce store.
Positioning your company in the market
Entrepreneur defines positioning as a process of differentiating your product or service from that of your competitors and helps you to determine which market niche to target.
Positioning is how you put your service or products in the eyes of your ideal customer. It’s a complex, but necessary step to take when setting up your business for success. At first, when you are launching your business, you can only guess and have a “theory” on positioning your business in the market.
Once you have a number of customers and you get a clearer picture of how your product or service helps them you can fine-tune your messaging and work on the actual positioning strategy.
You need to understand
There are a couple of questions you need to ask to understand better your product and how to approach the positioning of it.
- Who are you selling to?
- What is your customer really buying from you?
- What your unique value is?
- How are your services and/or products better than competitors?
- Who are the competitors’ comparables are?
After gathering all the answers and data necessary to create a proper positioning strategy:
- Create a positioning statement and describe it with 2 to 3 sentences
- Use this statement wherever your business is present - on your website, social media accounts, sales decks
- Educate your team, help them understand the positioning message, so they can easily convey it to the customers
- Test your statement - check if it speaks to the ideal customers, and fine-tune it until it speaks directly to their needs and wants
We solve the following problems on the topic of POSITIONING:
01
How you position your self in the market
02
How to find the right pricepoint
03
How do know which features to build
04
How to find your ideal customer profile
Getting the positioning of your business right is one of the hardest nuts to crack!
As always we have talked to experts and thought leaders so you can learn from them and you do not have to fall into the same pitfalls.
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Useful resources on positioning
- Implementing Value Pricing: A Radical Business Model for Professional Firms, by Ronald J. Baker
- Obviously Awesome: How to Nail Product Positioning so Customers Get It, Buy It, Love It — by April Dunford
- Pricing Creativity, by Blair Enns
- Positioning: The Battle for Your Mind — by Al Ries & Jack Trout
- The Four Steps to the Epiphany, by Steve Blank
- The Jobs-to-be-Done Handbook: Practical techniques for improving your application of Jobs-to-be-Done, by Chris Spiek & Bob Moesta
