As a small business, it can be tough to be noticed. The world is full of companies all wanting to be heard, and it’s certainly an added pressure alongside managing your business products and services that can sometimes seem impossible. You will undoubtedly have given thought to your product placement within the market and how it meets the needs of your identified target market, but you need to do more. Essentially it comes down to identifying and maximising your market position, the place that your business brand holds in the eyes and minds of the potential customer. It is how you become distinguishable from competitors.
Why is your product the perfect match?
You need to build your brand to answer a customer’s needs. Your messages should enhance your customer experience, increase sales and improve returns on your marketing budget.
Research your market position – learn how to describe your products and services for maximum impact
This must be more than just lists of what it does and how you do it. It must create a message that speaks to your intended audience and addresses their pain points.
Learning how to describe your products is a valuable tool. It has the added benefit of not just increasing sales as you present your product in a way that the customer relates to. Still, it can help you identify any weaknesses and, of course, the strengths of your offering.
Market position is relative to your competitors, and you can’t get that right without building a clear understanding of them. Knowing what your competitors are doing, how they are doing, and the results they are achieving is always a good idea. This is a good business practice; indeed, when it comes to marketing yourself, it will give you ideas about how to distinguish yourself from the competition.
What you need to consider to achieve marketing success as a small business
- Consumer benefit – Do you offer the safest, cheapest, highest quality or easy-to-use product? Does your service offer something more?
- Pricing – Do you offer the ‘luxury’ or ‘low-cost’ option? A good marketing strategy to stand out can be setting your price much higher or lower than others.
- Use – Not just how your product is used, but when it is used, seasonal aspects and periods of likely higher demand make timing an essential element of marketing a product or service.
- Classifying – Is there one benefit you can highlight that makes your product stand out?
Finding your marketing position takes time and effort, but its benefits will be enormous when you achieve it. Not only do you need to get your product right, but you must also identify the right kind of message to the right people – those who need what you have. Learning to communicate with audiences in a way that will naturally draw them to your brand over competitors, knowing who to market to in a way that responds positively to their needs is the key. Test out different strategies and take a look at our Digital Marketing Brochures – Ultimate Tips And Tricks guide.
Always be prepared to adapt your product, market or message if people don’t respond!