6 Aspects of Business Part 2

Business Lift

In Marketing, Positioning Posted October 09, 2015

This is a continuation of 6 Aspects of Business Part 1 post

1. Positioning

Positioning is another important factor in the success of your business. How your business is positioned in the marketplace is critical to its success. How does the marketplace perceive your services? How do your customers perceive you? What can customers count on from you? If someone was asked to describe your business, what would they say? Have you noticed that most people don’t want a plumber? They want a solution or some kind of benefit. How does your business communicate the solutions and benefits it provides – in the customer’s language? At one of my former businesses, Milestone Financial Services, we had a saying that we want to be “a unicorn in a herd of brumbies”. In other words, how can we stand out in the crowded marketplace? It is critical to carve out a position for your business’ brand in the marketplace.

What is the business’ Unique Value Proposition (UVP)? Who does it serve, and how does it do it uniquely when compared to the other businesses that are trying to serve customers who are looking for solutions that you provide? Are you bold enough to work toward a narrow yet deep niche – or are you trying to please everyone all the time… and winding up pleasing no one?

2. Marketing

Marketing is, for many companies, a complete waste of money – that is, marketing in traditional terms, trying to tell the market how to perceive them. For most small businesses, marketing is not to establish brand awareness or to shape perceptions. Market to get action, to get a response – in other words, make sure you have a “call to action”. Develop your marketing message to help prospects understand how you will solve that one problem they have with your solution, which is the only solution or the best solution of its type.

Your marketing goal definitely is to:

1.Build a database that encompasses the types of people who have the problem you can solve

2. Give them every opportunity to buy from you

People spend around 3 seconds on a website when searching for a product or service. Clearly you need to grab their attention fast, but don’t expect them to return unless you can obtain their details and then point them back to you periodically. That’s why you need a special offer to encourage them to share their information – in this case, an email address.