Friday, November 9, 2012

Position Your Business to Outshine the Competition

Your clients and prospects have access to more information and choices today than ever before. The number of small businesses increases daily, and competition can be tough. In the past, competition may have been similar companies in your part of town; now many small businesses must compete with others around the globe. Positioning your company can provide the competitive edge you need to outshine the competition.

Appropriately positioning your business enables you to communicate a meaningful, relevant message to clients and prospects and establishes you as an "expert" in your field. First, you must know and understand your market as well as the competition, their strengths and their focus. Then you can determine the most profitable place to position your business in relation to others in that market.

Domino's Pizza provides a classic example of this. They've positioned themselves to focus on one thing: fast delivery. They don't claim to cook up gourmet pizza, or a romantic dine-in experience. Just fast delivery -- and it works! They have cornered this position in their market.

If you're a florist and your number-one competitor is known for its bargain bouquets, you may want to target discriminating gift givers and position yourself as the shop that delivers the freshest, longest-lasting arrangements that recipients will enjoy for a week or more.

The Positioning Statement

Writing a Positioning Statement for your company is a precursor to branding the business. It will determine what you emphasize in your marketing materials. To help you create a company Positioning Statement, answer the questions below, or revisit your USP (unique selling proposition).

� What do we do best?

� Who is our target customer?

� What needs do we fulfill for them?

� Who is our competition?

� What makes us different from them?

A USP is a distinct and engaging statement that sets you and your business or practice apart from all the rest, by describing the unique value you offer. It tells your prospects, "This is why you should do business with us."