One of the most important things when considering how to market your online business is to find the right market positioning strategy. But why is this important? And what is do an market positioning strategy cover? Read on and you will learn.
Positioning comes from the Latin word ‘pōnere ‘ – which means to place. In terms of marketing, the concept of market positioning covers a series of measures aimed at ensuring the visibility, recognition and differentiation of your online business. It is about finding a place in your market, that you can make your own. That is: awareness of the right kind, from the right people at the right time. This means that a market positioning strategy goes hand in hand with the archetype, you defined as your customers.
Why is it important to find your market positioning strategy?
To day people are daily bombarded with commercials and most people respond to advertising with a lack of attention and interest. So if your target everybody with you marketing you will reach nobody. Therefore you have to stand out from the mass and offer your customers, what they need, to get noticed. The better you are able to define your market positioning, the more effective your marketing will be.
An example will explain my point. Let’s say that you passion is selling bikes. Therefore you decide to start an online bike shop. As you want to sell as much as possible you want to sell bikes to everyone: from the 3 year old who needs a tree wheeler to the elite triathlete who needs a bike for an iron man. Either it is going to be very difficult to target all customers through the same marketing campaign or it is going to be very expensive to make marketing campaigns that target each customer group.
But let’s be realistic. In my option there is such a thing as a too small niche. If it is impossible to make a profitable online business with the niche you selected, you either has to expand the target group or maybe abroad.
In positioning marketing your products don’t have to be unique!
But you need to offer your customers some advantages compared to what they can find at your competitors. Example of advantages could be:
- Offer a little extra then the customer expect.
- Faster / better / free delivery.
- More products to choose from.
- Returning customer bonuses.
An important thing to notice is that the positioning strategies you choose in your online marketing do not have to be expensive. An email a few days after the customer has bought something, asking them if they are satisfied with their purchase, could also be a possibility.
Spying on your competitors.
A good positioning strategy is to stand out from the crowd, therefore you have to know what your competitors are doing. A simple way to do this could be to visit your competitor’s online store. Here you could have a look at:
- Product portfolio
- Service level
- Terms of delivery
- Other places where they stand out?
Another way to “spy” on your competitors is to buy something from them (maybe this is not such a good idea if you what to sell an expensive product). If you do this, it will be wise to use the name and address of a friend or somebody else you know. This way it won’t become too obvious who is behind. When you have bought something you could try to:
- Test their services level by asking questions and see how quick they answer.
- See how fast their delivery goes.
- Who they use to distribute their goods
Finally you should sign up for your competitor’s newsletters. This will keep you up to date on what they are doing. Again, it is maybe not wise to use the e-mail of your business when doing this.