Just where does my product or service sit in the market?
This is often a difficult question to answer when asked in isolation. However, when asked a different way it helps to focus the mind easier. So, I’ll ask you again!
Heard of Penneys?
If your product or service was being sold on the high street, do you think it would be for sale in Brown Thomas, Marks & Spencer or Penneys?
The Lightbulb moment!
Now you understand better! This is normally where the lightbulb moment occurs! Business owners can almost immediately tell me where their product or service would be placed. They can resonate with one of the three and normally not a mixture of two or three of the options, although there can be exceptions.
The value proposition
I’ve worked with businesses that can align with each of the three. Once this question is answered, it is then much easier to nail down their value proposition. It also helps to really define their target customer into a much clearer picture.
Clarity in marketing
Clarity like this is beyond useful to then work on your marketing strategy. If you keep asking yourself the question of where you are placed, then you know what marketing channels will work. Yes, there can be trial and error. But think about where your target customers are consuming media. Is it on Instagram? Or perhaps it is a national newspaper? What about email? Perhaps they listen to the radio? Or do they attend specific events? When you ask yourself these questions, you can then decide where best to spend the marketing budget.
Get in touch
We love to help businesses to get clarity with their marketing. We offer a range of services that might be helpful to you, including marketing consultations. Reach out to arrange a meeting with us.