So you want to know about successful product positioning?
I understand how this issue affects you and your business. Actually, I had the same issue too when I was starting mine. So I spent time looking for techniques to use to successfully position my products. Having done the research, I certainly understand how tricky this issue could be for you.
Most ‘Me-Too” businesses go broke. You have to stand out from the crowd and here is why.
But first answer this question… What makes your business different from your competitors? Got the answer already? Great, that is good news.
Think about this… The fact that other businesses fail means there is less so-called competition cluttering up your market place.
Losing money is not clever and of course the word ‘bankruptcy’ strikes a raw nerve in everybody involved. I understand. The last thing we all want is to get to that point in our business.
So here is the best way of avoiding the problem of bankruptcy. Look for ways to successfully position your productso that you do not have any competition. Make your product or service unique.
The 3 secrets are these…VP, U.S.P and U.B.A
1. Value Proposition –This states your company’s core values. What you want to be known for. What makes your company special? Write it on a piece of paper. It should be no longer than 4 sentences and contain no fluff and no filler.
2. Unique Selling Proposition –This states what is unique and different about your product or service. If you are selling a product that other people sell too. Find a way to add value to your offer. Add something that makes your offer unique.
3. Unique Buying Advantage –If the added value that goes with your product really resonates with your customers then your U.S.P will instantly become their U.B.A. So find out as much as you can about their pain points.
Finally, the best way to do this is to ask them. They will be pleased that you have taken the time to listen to their concerns. This will build rapport and customer loyalty.
Warning: These 3 core product positioning values must be aligned. You must feel congruent with them. Success will then be a short step away.