Let’s face it, the industry has changed over the past two years. People hibernated at home because of COVID-19, the events business went completely virtual for more than a year, and supply chain issues have stalled several industries. Now that we’re moving away from many of these issues, it’s time for companies to take stock and see if their value to the industry is the same as it was two years ago. If not, it might be time for a Positioning and Messaging refresh. That means asking questions like:
- What does your company do, and how does it do it better than its competitors?
- Who are your end users and what specific value do you bring to them?
- What are the specific reasons they should buy from you?
- How can you back up your claims through customer implementations and industry stats?
The goal in asking these questions is being able to tell a story that helps customers and prospects understand clearly and consistently what you do, how you do it better than anyone else, and why it matters. Positioning your company in a competitive market can mean the difference between winning or losing a sale.
Understanding Positioning and Messaging
Positioning establishes a company’s perceived role in the markets in which it competes. It’s important to define both your overall market category, and then the key vertical markets that flow from that Positioning. Every company has vertical markets in which they naturally excel, such as manufacturing, agriculture or financial services. Each of these markets have their own differentiators and require their own development. The company’s target audiences—whether they are customers, partners, potential investors, shareholders, board of directors, media, analysts or other key audiences—need to receive the right benefits statements for their market.
Positioning is important for your customers and prospects, but it’s also critical to make it clear for the media and analysts who are communicating it to their audiences. They need to know where you fall into the matrix of companies that are already on their radar—and how you’re different from them.
Positioning is a bit more complicated than it sounds. There are a lot of moving parts, and if there’s one thing that’s consistent, it’s change. Each move your company makes, whether that’s signing on new partners and customers, making an acquisition or getting new financing, has the potential to impact your Positioning.
Positioning goes hand in hand with good Messaging. Messaging is how a company communicates its position to its audiences. Messaging means breaking down the company’s Positioning into common language that tells a story about what the company does and why that matters. Messaging is used in several ways, but one of the most effective is through an Elevator Pitch that tells the who, what, when, where, how and why of your company. From there you can build out other elements you need to succeed (like content marketing).
So, how do you get started? Unfortunately, there is no cookie cutter approach. It starts with the company’s business goals that have been laid out in the company’s Strategic Business Plan. Positioning and Messaging take that plan to the next level, identifying how the company intends to approach its customers, lead the company’s sales strategy, define its intended market position, and articulate how it will generate revenues and profits.
Need help with how to correctly position your company in its market(s) and then message to key constituents? Contact Calysto today.