Market positioning can be tricky in B2B. Businesses tend to focus on the functionality and benefits of their products or services, which can sometimes mean ignoring important elements like branding, company culture, and more.
But if you want to attract new customers and keep them coming back, you need to understand your market positioning strategy—and use it across all channels. Otherwise, you risk alienating your target market with poor customer service and poor value propositions. Here’s what you need to know about B2B marketing positioning and how to nail it.
How to create a market positioning statement
The market positioning statement is the cornerstone of marketing strategy style=”font-weight: 400;”>. It answers the question, who are we? And particulates a company’s key differentiators in a way that is relevant to customers. Your marketing positioning statement should be concise and have three parts:
(1) Who you are;
(2) What you do; and
(3) How you do it better than anyone else.
You might have seen companies with multiple statements for their products or services, but this can lead to confusion about what those businesses stand for.
For example, one company has one statement for electric vehicles and another for home solar power systems. To avoid competing messages, focus on one product or service at a time and make your message clear by naming competitors.
How to implement market positioning in your business
- When you have an understanding of your marketing positioning, it will become easier to take control of your marketing strategy and differentiate yourself from competitors.
- Marketing can be overwhelming at first, but with the right approach, it can make all the difference in the success of your business.
- Marketing positioning will allow you to set yourself apart from other businesses by establishing what your unique offering is.
- Your marketing strategy should not only work on increasing brand awareness, but also provide information about what sets you apart from other companies and attract potential customers who are searching for something that no one else offers.
- A good way to find out what your business does best is by researching similar products or services offered by other companies.
- The key is to identify differentiators; features or benefits which set you apart from the competition.
- These differences need to be tangible and communicated clearly so that customers know exactly why they should buy from you instead of another company selling similar products or services.
The importance of monitoring and adjusting your market positioning
Market positioning is essential for any business, but it’s especially important in the B2B space. This is because potential customers are more skeptical of marketing messages and sales pitches, so they need to feel comfortable with the company before they buy anything.
This can be tricky to do when you’re not face-to-face with a customer. In order to overcome this hurdle, it’s important to monitor your marketing efforts and adjust your marketing message as needed.
To increase in sale
The first step in marketing understands your company’s positioning and how it differs from your competitors. Once you have this down, the next step is to figure out who your target customers are.
This will help you develop marketing channels that will resonate with them, find the best way to get their attention, and ultimately convert them into paying customers.
It can also help you improve your product or service so that it’s better suited for your target customer. Ultimately, finding the perfect customer match will make all of your other marketing efforts more effective.
Advantage over competitor
Market positioning is a must-have for any business seeking to succeed. It’s the foundation of your brand, the basis on which you’ll attract and connect with customers.
Your competitive advantage will be determined by how well you are able to differentiate yourself from the competition.
What makes your product different? How do you stand out in a crowded marketplace? What are your company values and beliefs? Who is your customer? Why should they buy your products or services over those of your competitors?
The answers to these questions can help you formulate an effective marketing strategy that sets you apart from the rest.
Meets with loyal customers
Loyal customers are the backbone of any business, so it’s important to spend time getting to know them. This means understanding their needs and concerns, learning what makes them tick, and figuring out what they value most.
For example, in some industries a big concern is how long products will last while others might be more focused on how easy they are to maintain.
It’s also important to get feedback from loyal customers about your products – what do they like or dislike? What would make them want to purchase more? How can you serve their needs better?
There’s no better way to answer these questions than by engaging with them directly and asking those questions.
Boost relationship between customer and business
Many businesses forget that marketing is about building relationships. Think of it this way: if you’re not interested in a friend, you might not be interested in their business either.
How do you start a conversation? You introduce yourself and share something about yourself or your business. That’s the same way to build relationships with customers!
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Marketing positioning is essential to marketing success. It’s the way you communicate your company’s unique value proposition to the right audience. It influences how customers see and purchase your products and services. And it allows you to stand out in a crowded marketplace.
With great positioning, you’ll:
– Target your messaging more precisely, based on customer needs
– Create powerful messages that speak directly to the customers that matter most
– Differentiate yourself from competitors by standing out with a clear, compelling message that speaks directly to potential customers
SOJY is a Growth Marketing Strategist with proven expertise in Marketing Psychology, Performance marketing and SEO with over 7 years of experience in the industry. With a passion for helping businesses grow, he has a track record of success in developing and executing innovative marketing strategies that drive growth and ROI.