Market positioning 101 for new entrepreneurs
What is market positioning?
It’s how your brand distinguishes itself in the minds of your customers. In other words, it’s what sets you apart from your competitors.
First things first, know your target customer.
Who are your ideal customers? What do they need? What do they prefer? What are they annoyed by? Your positioning needs to resonate with them.
Differentiation
What makes you different from every SAHM that’s selling custom T-shirts, tumblers, or any other home-made thing?
Whatever it is, HIGHLIGHT it!
What do they get out of it?
Customers want to know what value your product of service offers. What problem do you solve? How does it change their lives for the better?
Know your competition.
Identify what they are doing right and what they are doing wrong. Use their weaknesses to your advantage.
Consistency
Your branding, social media/ online presence, and customer experience need to align with your positioning strategy. It’s ok to evolve to stay relevant and meet customer's needs. Just make sure you’re not completely abandoning your brand persona.
Write your positioning statement by explaining these three things:
Who your customers are.
Your unique value
How you’re different from the competition.
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