The holy grail of compelling communications
One of the most important things for businesses to consider is how they will “differentiate” their offering and create value for their market.
Competitive advantages are the foundation of your entire business – the first things you should pin down if you’re launching a new company or product and also vital when you’re expanding or looking for a new edge.
They will help you put best foot forward in terms of the strongest possible proposition to your target market. Because clarity on your competitive advantages is the key to getting your core business messages right. And if your messages are right, they will be more compelling to your target market.
Competitive positioning strategy
So, what does make your product or service different? What is your unique selling proposition, your ‘USP’? And why should your potential customers choose you?
In marketing-speak this is known as your Competitive Positioning Strategy. It’s about carving out a space in the competitive landscape, putting your stake in the ground, and winning mindshare in the marketplace. It’s about being known for a certain “something”, which then defines your competitive advantage.
Don’t fall into the trap of competing on price
Without differentiation, it takes more time and budget to entice the market to engage with you; as a result, many companies end up competing on price. A tough position to sustain over the long term.
Define your competitive positioning strategy
Your competitive positioning strategy can be arrived at via the marketing planning process, which should examine your market, competition, products and target market. Each of these stages is a key element in the driving force towards identifying and confirming competitive advantages.
When we conduct a full marketing plan for a client, we consider each of these stages in turn, carrying out considerable research and analysis to explore every angle. We often come up with factors which have been missed because the business owner is too close to his/her own business – this work does require a degree of objectivity.
Fast track to compelling communications
If you are confident you already know your marketplace and competition inside out, consider a consultancy meeting with us. The objective of the meeting will be to define your competitive positioning strategy, determine your core proposition and and arrive at your key messages.
Once at this stage we can then review your logo, branding and strapline – and consider your specific communications needs, both online and offline. That includes your website, social media and online platform as well as your brochures, point of sale literature and other printed communications.
A relatively small amount spent now on a consultancy meeting or marketing plan could save you a lot in the future.