Do you have a statement you can make about your business in the few seconds an elevator goes up three floors? An elevator pitch?
Do people easily understand your business?
Do you know how to learn about competitors?
Did you know the formula to determine your position?
Do you have a defining statement that makes you different?
Strategic positioning is the space you occupy and the image you have among users relative to competing products. It is crucial for your approach to the market because you are competing for “share of mind.”
Establishing the proper market position to make your company known is a skill in itself. It should never be allowed to “just happen.” We have a formula that can help you define your business.
For grapevine Technologies, our market positioning services helped establish the company as a knowledge management software firm.
For MEDSTAT, our positioning services built its image as a premium provider of health cost information through developing and nurturing national and trade media contacts relationships.
Achieving better market position is a matter of perception. This analysis is important because it helps you sell -- allows you to target your buyers and people who are involved in purchase decisions. You think through the issues of a product or service and incorporate the ideas of real users into your offering.
In order to create the perception you desire, it is prudent to think through the issues. This can be done using a market positioning formula first outlined by marketing guru Geoff Moore in “Crossing the Chasm” a dozen years ago.
The benefit of this exercise is that you agree on target audiences, rationale for your product, the primary buyers and users.
It is especially important for emerging companies that may be led by research scientists, engineers or other highly skilled technical people who are not educated in marketing and PR. The formula is:
For (target customer)
Who (statement of need or opportunity)
The (product name) is a (product category)
That (statement of key benefit – that is compelling reason to buy)
Unlike (primary competitive alternative)
Our product (statement of primary differentiation)
This marketing positioning formula guides you to reflect on the targets and value of your business to a customer.
No company needs to reach everyone. The sooner you recognize this fact, the better for you.
There are segments of the business community that need to be communicated with early and often. These are the influencers and others in the “infrastructure” of your business.
They are the “thought leaders” in your market space – analysts, journalists, company officials, investors, bankers, lawyers, accountants, industry gurus, suppliers, advisors and friends.
The infrastructure is all the people who have some say in the way your business, products or services are perceived and those who influence or make buy decisions. Our “Identify the Influencers”™ program can help you focus on the people and relationships that matter to your business.
Reaching target audiences helps you sell by identifying who you need to reach rather than “shotgunning” everyone.
How often have you heard about some business message being too long and cumbersome, redundant and not really making key points in a logical order?
You need writers with expertise in getting to the point, making it and getting out. No paraphrasing. No redundancies. Just plain, solid, crisp English – business writing services with strong verbs and descriptive adjectives that convey what you must get across.
We create punchy writing that contains the key words that describe and create an image of understanding of PR for your business.
Concise sentences, punctuated by sharp verbs and descriptive adjectives, will suit your purpose best.
More than anything, we know what target audiences need to hear for them to have a positive impression of a product or service.
Our writing services help you sell by getting right to the point – the benefits of your product or service – to a customer.
Here is an example of bad writing:
A new vp of worldwide customer support joined Business Objects. It is Terri Ramsey.
Her duty will be to increase customer satisfaction and she has 18 years of experience in customer support operations, most recently with Oracle North America’s help desk where she took 10,000 calls from customers with complaints worldwide.
Her job will be to build a new customer support organization and design the supportive reporting systems that will make customers happy all around the world.
Additional experience include stints at Digital and Ingres, both firms that have now folded.
BO is a worldwide business software company that focuses on intelligence.
Here is an example of good writing:
A seasoned software and customer relations executive with 18 years of experience at international firms was named vice president of customer support at Business Objects, the world’s leading business intelligence software business.
Terry Ramsey will develop a team and programs to bolster customer satisfaction worldwide. She joined Business Objects from a position as director of the Oracle North American Help Desk, which is responsible for 10,000 customers calls a week.
Earlier, Ms. Ramsey was an executive in customer support groups for Ingres and Digital Computer.
We provide this through our program, “Your Competitive Edge™.”
Every company needs to know where it fits in a market. Who is in the market? How large is that firm? What products does it offer? How do the company’s products compare? How to position or reposition a product in a market to differentiate it from the competition?
A thorough competitive report can indicate how a new product should be launched -- the benefits it must have to meet competition, the advantages it has. In short, your edge in the market.
With broad availability of information on the internet and good search engines, we have found this to be a key for emerging companies that do not have the staff nor time to do such work.
Competitive market analysis helps you sell by revealing what you have that is different and better than competitive alternatives.
This brief description will tell someone what your business is, what it does, what is important about it, who uses it.
Think of the elevator pitch like this:
You encounter someone in the elevator. He knows nothing of your business but asks what you do. To pass the elevator pitch, you have to tell him by the time the elevator gets to the 10th floor. He needs to know what your product is, who should have it, how the users will benefit and how you differ from a competitive product.
Elevator Pitch Sample:
Eiler’s sweet spot is emerging private companies in the $1 to $100 million range that need to focus marketing to their buyers in high tech, financial services, biotech and healthcare. We provide 27 products in five service areas: positioning, writing, media relations, corporate communications and periodic events. The firm is 19 years old, headquartered in Ann Arbor, and serves clients across the Midwest.
Creating an elevator pitch helps you sell by going right at the heart of what you do, for whom, why and with what benefit.
“Larry brings strong PR skills to all of his clients. But what is truly unique about Larry is his incredible national network of business and media professionals and the trust he has earned from them. I have tremendous respect for Larry and his business acumen.”