The first foundational marketing initiative you must complete is market research. By determining your target audience and positioning within the competitive landscape, you can better determine how you truly benefit the businesses you serve. Whether you are launching a new business or starting a new marketing initiative, creating or revisiting your business’s market research can help you better serve your clients.
Who is your target audience? And what do they need? To answer these questions, look beyond basic titles and demographics to better understand what makes them tick. Look beyond the scope of your services to determine other ways you can help them with your services, customer service, and more. This is vital information you need to know before beginning to develop your positioning.
If you’re unsure where to begin, start asking your current and previous customers questions about why they sought out your services, why they chose your business, and what needs your services fulfilled. They may offer you insights into aspects of your services that mean a lot to your customers and maybe even aspects that can be improved.
If you do not have a lot of customers to ask or much feedback to review, start by asking different members of your team for what they notice the most about how your services truly benefit your customers beyond the original scope of the services themselves. If you can, conduct a survey sent to your target audience.
Throughout this process, it’s imperative that you and your team identify customer objections and roadblocks. When you know what your customers struggle with, you can accommodate them to the best of your ability through your services and customer service, which includes your messaging. This involves resolving those challenges for your customers. The key is to focus on how your business solves your customers’ challenges, not on the services you provide. This is the foundation of your positioning and messaging.
What do you offer that your audience needs that your competitors don’t offer? These competitive differentiators are your basic positioning. Your positioning is what sets you apart in the competitive landscape. It’s what gives you a competitive edge.
At SharedTEAMS, we like to create a SWOT (strengths, weaknesses, opportunities, and threats) analysis of your top 3-4 competitors. This effort collects basic details of your top competitors, compares them with your business, and determines your competitors’ strengths and weaknesses, which helps narrow your positioning in the landscape.
By focusing on promoting what your competitors lack in your marketing efforts, you stand apart in the industry. This also helps your audience find you based on your unique positioning according to their unique needs.
Our team works as a fluid extension of each of our member’s businesses by developing strategies and executing projects in whatever capacity is best for their unique needs.