How to Nail Product Positioning Strategy so Customers Get It, Buy It, Love It. Obviously Awesome offers an inspiring roadmap for honing passions into thriving businesses. Dunford shares how she transitioned skills like illustration into a multi-million dollar empire through relentless optimism.
Readers learn Dunford’s strategies for tapping untapped talents, gaining visibility through bold storytelling and community-building on social media. She advocates immersing in interests unabashedly despite doubters. Dunford also stresses nurturing wellness alongside work through self-care.
Full of empowering advice presented accessibly, the book serves as an upbeat manual for pursuing Fulfilling work on one’s terms. While some content felt lightweight, Dunford’s enthusiasm proves infectious. Examples demonstrate manifesting ambitions relentlessly but enjoyably.
In summary, Obviously Awesome shares April Dunford’s journey of passionately building a lucrative empire and encourages readers to unapologetically develop skills into thriving businesses. Call to action: Continue reading to learn Dunford’s framework for harnessing interests through relentless optimism and community-building.
Table of Contents
- Introduction: Position your product for maximum market impact and customer appeal
- Unraveling the mystery of positioning: Know the core components
- Setting the stage: Understand your target audience and align your team
- Mapping the landscape: Sharpen your edge with competitive analysis and customer value
- Completing the journey: Finalize and communicate your product’s positioning strategy
Marketing, Sales, Productivity, Entrepreneurship, Management, Leadership, Inspiration, Creativity, Self-employment, Business, Success, Lifestyle, Motivation, Women, Social media, Health, Graphic design
Introduction: Position your product for maximum market impact and customer appeal
Obviously Awesome (2019) is a guide on how to master the art of product positioning. It compiles insights and strategies from two decades of experience in B2B tech marketing, providing actionable advice for selling a product’s unique attributes to the right audience.
Picture one of the world’s finest violinists playing in a subway station. He plays with passion and expertise, yet most commuters pass by without a second glance.
This true scenario illustrates the power of context – even the most exceptional talents or products can go unnoticed if presented in the wrong setting. That’s why positioning is so important. The strategic process of placing your product in the right context ensures it’s perceived and valued correctly by your target audience.
The art of positioning can be broken down into 10 methodical steps that guide you through identifying your product’s unique value, understanding your competition, and effectively communicating this to your target market.
In this summary to April Dunford’s Obviously Awesome, you’ll learn how to navigate these steps to create a compelling market presence for your product – and lay the foundation for its sustained success.
Unraveling the mystery of positioning: Know the core components
Ever wondered why some products, even the most innovative ones, struggle to gain traction in the market, while others become instant hits? It’s all about how they’re positioned. Positioning is the art of framing a product within a specific context to highlight its unique value. In a world saturated with options, understanding and mastering this concept is crucial – especially for entrepreneurs aiming to improve market fit.
Positioning is more than just a buzzword; it’s a strategic framework that shapes how potential customers perceive and value your product. It’s not just about what your product does, but where it stands in people’s minds. Poor positioning forces your customers to work hard to see the value in your product – effective positioning makes it instantly obvious.
At the core of effective positioning is a deliberate, systematic approach that moves away from assumptions. It’s easy for many entrepreneurs to fall into the trap of sticking to their original idea, even when their product evolves or the market shifts. But positioning isn’t static; it’s a dynamic process that needs to reflect changes in both your product and the environment.
Positioning can be broken down into five critical components.
First, understand the specific problems your product solves and recognize the alternative solutions your customers might currently use. Knowing the landscape helps in creating a positioning strategy that makes your product stand out as the best solution.
Second, highlight your product’s unique differences. Every product has attributes that differentiate it from its competitors. Pinpointing these differences and understanding their significance to your customers is essential.
Third, define the characteristics of your target customer. Not all customers are the right fit for your product. Identifying the attributes of your ideal customers – those who’ll find the most value in your product’s unique features – is crucial.
Fourth, determine your optimal market context. This involves choosing a market environment that enhances your product’s strengths and aligns with your target customers’ expectations.
Finally, be flexible. As your product and market evolve, so should your positioning. This step involves reassessing and realigning the other components to ensure your product continues to be seen in the best light.
The next sections delve into the 10-step process of applying these components to develop a positioning strategy that resonates with the right customers.
Setting the stage: Understand your target audience and align your team
When it comes to product positioning, the first and perhaps most crucial step is to truly understand the customers who deeply connect with your product. These are your ardent supporters – the ones who instantly found your product compelling, made quick buying decisions, and transformed into vocal advocates. By examining this group, you can uncover patterns in their preferences and needs, which in turn sheds light on your product’s unique value, your ideal customer profile, and the competitive landscape.
If you’re at a stage where such a loyal customer base hasn’t yet developed, you’ll need to adjust your strategy. In this scenario, you can maintain a broad approach in positioning and test your product with a range of potential customers. Observe which segments engage most actively with your product to identify your core audience. Be sure to start this process from the customer’s perspective – the way they perceive your product’s features and use cases may differ from how you view things internally.
Once you’ve identified your product’s stans, the second step is forming a positioning team. Effective positioning is a collaborative effort, best achieved by pooling insights from various company functions – sales, marketing, product development, and customer success, to name a few. Each department offers a unique perspective on the product’s attributes, its value proposition, and the target customer profile. Use this collective effort to align assumptions and develop a new positioning that the entire company understands and endorses.
The third and final step in this initial phase is to create a new positioning vocabulary. This requires the team to have a shared understanding of positioning concepts, components, and the influence of market factors. At this stage, you need to let go of any existing biases or baggage embedded in your current positioning, which might be based on the product’s history or initial market reception. Keep an open mind, and consider new ideas and perspectives.
Mapping the landscape: Sharpen your edge with competitive analysis and customer value
Now that you’ve built a foundation by understanding your customers and assembling a strategic positioning team and vocabulary, it’s time for the next phase in refining your product’s positioning strategy. This portion of the journey involves diving deep into the competitive landscape, and mapping your product’s unique attributes to the value they offer your customers.
So for step four, you need to understand the competition. To do this, you need to list out all your true competitors. Don’t limit these to direct product competitors; your competition could also include manual processes, alternative solutions, or even the possibility of customers choosing to do nothing. The point is to get a clear picture of what your target customers would turn to if your product didn’t exist. This approach shifts the perspective from a product-centric view to a customer-centric one.
Then, step five involves isolating your unique attributes or features. In other words, identify what makes your product different and better than the competition. Focus on the specific capabilities and features that set your product apart. It doesn’t matter whether it’s a 15 megapixel camera in a smartphone, one-click installation software, or robust metal construction in machinery – each unique feature counts. The objective here is to capture the full breadth of your product’s capabilities, including those that might be perceived negatively by some. Different is good. And validating these differentiators through facts, third-party endorsements, or customer testimonials adds credibility to your positioning.
The sixth step is to map these unique attributes to the value they provide your customers. Here, you’re transitioning from defining your product’s features to their benefits. For example, a camera’s high megapixel count translates into sharper images – which means printable, zoomable photos for the customer. Each feature has the potential to fulfill multiple value points. The goal is to identify key value clusters centered around customer goals, which spotlights your product’s most critical differentiators.
Completing the journey: Finalize and communicate your product’s positioning strategy
With a firm grasp of your product and its competitive landscape, you’re ready for the seventh step – connecting with the most appreciative segments of your customer base. This isn’t just about demographics like age or gender. It means understanding their behaviors, investments, and specific needs. Your ideal customers quickly grasped your value proposition, made swift purchasing decisions, and became enthusiastic advocates of your product. Targeting your positioning toward these best-fit customers paves the way for efficiency in sales and retention. As your business grows, you can broaden your target audience – remember, positioning is an evolving process! – but it’s best to start with a narrow focus.
The next step – number eight – is choosing the right market frame of reference to highlight your product’s strengths and make its value crystal clear. There are a few approaches here, each with its own set of challenges and rewards: you can position yourself head-to-head against established market leaders, focus on a niche segment where you can be a big fish in a small pond, or even create an entirely new market category. Ultimately, your chosen market frame should put your product’s strengths at the center and make its value indisputable to your target customers.
Take the ninth step with a grain of salt. Leveraging trends isn’t always essential, but can be powerful; if a current trend intersects well with your product and market context, it can make you appear more current and relevant. For instance, say you have a product in the retail sales associate tools market, and this product allows people to access data across various platforms and devices – this could easily capitalize on the trend of mobility. When leveraging a trend, make sure it reinforces rather than overshadows your positioning. The goal isn’t to chase trends for the sake of relevance, but to enhance a product’s appeal when there’s a natural fit.
The tenth and final step is to capture your positioning in a way that informs all aspects of your business strategy. This involves creating a detailed document outlining each component of your positioning – from your competitive alternatives to your target market. This document serves as a blueprint for crafting a sales story, developing consistent messaging for marketing materials, and guiding product development and pricing strategies. Regularly revisiting, and potentially revising, this positioning is important. Remember, markets are dynamic, and factors like new competitors, regulatory changes, economic shifts, technological advances, and evolving customer preferences can impact your positioning.
And there you have it: the 10 steps to effective positioning. With this comprehensive approach, you can make sure every facet of your business aligns with and reinforces the unique value your product offers.
Effective positioning is essential for a product’s success in the market. It begins with understanding your target audience and their needs – and extends to identifying competitors, isolating your product’s unique attributes, creating tangible value, and communicating your vision. By following the ten steps to positioning, you can enhance your product’s market presence, ensure it connects deeply with your customers, and pave the way for sustained success.