What if the product is not a problem?
What if the product is not a problem?
3 Steps to Successful Positioning to win the hearts and minds of your customers
Dear GTM Strategist!
This week we are playing with the hypothesis that the product might be safe and sound.
The only thing that prevents you from the glory and success you deserve might be your ability to pitch it to customers.
I get it. You know so much about your problem and product space.
You would like to tell it all.
The problem is - it can be overwhelming for the customer because they have limited attention spans, and mostly - they care about themselves, not about you.
If you get feedback like:
little to no interest,
suboptimal conversion rates,
lots of price negotiations, and
“I could get it cheaper elsewhere”…
…then you might have a positioning problem.
But do not worry too much. It is solvable.
In this Substack, we will go through 3 steps by positioning expert Andrej Peršolja, which will help you win the minds and hearts of customers.
Let’s do this.
#1 SCORE THE COMPETITION
You never compete in isolation. If there is a lot of hype and brand awareness for your competitor, you should really choose your battles and learn where you can stand out.
This is how you do it:
Map your alternative solutions - what are other ways that customers solve the problem?
Figure how your clients evaluate software - what matters to them? Not to you - to them.
Write your Ideal Customer Profile (ICP)'s personal ambitions - what are they personally hoping to achieve and get from this? Is it to make them look cool, make your money?
Evaluate your competition based on these criteria for every need with 0-5 and calculate averages.
Now make sense out of it:
Every need that has 4-5 in it is taken. Red ocean alert, go away. The need is satisfied; you can’t compete there.
Every need that has 0-1 might be a perfect need that is unsatisfied or isn’t a need at all. Perhaps the clients simply don’t care about it. Remember, where there is no competition, there is usually no market.
Every need with a score of 2-3 is a good place to compete. You have a fighting chance there.
This is how you can learn where the client’s needs are met. It is your perfect place to compete.
#2 FINDING WHAT MAKES YOU DIFFERENT
“Why should they buy from us?”
You can compete on price or differentiation.
The price isn’t where you want to compete.
It is the race to the bottom.
Here is how to differentiate:
Map all your assets (features, team abilities, skills, knowledge,...)
Mark every asset as a qualifier or a differentiator:
A qualifier is something that allows you to play the game. It’s the market standard. It’s what’s expected of you. It is your ticket to the game. You have to have this.
A differentiator is something that’s unique to you. What do you have that no one else has? You can build your whole business around a good differentiator.
#3 HOW TO FIND YOUR VALUE PROP
Now let’s make our ideal customer care for the product. This is how to create an irresistible value proposition for your ICP:
Choose a differentiated asset from framework #2.
Create a value proposition for that asset.
Get at least 5 people who don’t know what to do and give them the value proposition.
Analyze how they react. Are they intrigued? Do they want to know more? Does the value proposition lead to them discussing how your solution would work for your business?
If so, the value proposition works.
If not, iterate. Change the messaging or pick another differentiated asset.
Andrej gave us a wonderful way to test our value proposition in our podcast - you write LinkedIn invites. If more than 40% of the invites are accepted, you are onto something good.
Then you develop a conversation with these people. If 10% of them decide to hop on a call with you, congrats again - you have a solid basis for your offer.
Learn more about this in the latest episode of the GTM Strategist Podcast:
Your Turn:
DIY: You can download Andrej’s positioning framework here https://miro.com/miroverse/startup-positioning-framework-template/
Done with you: Want feedback on your positioning? Apply for a positioning roast. Andrej and I will choose 3 cases and give you feedback on February 29th, 2024, at 18:00 CET at our office hours 👇
My turn:
“Positioning, Messaging and Branding” is one of the most celebrated chapters in my GTM Strategist book. If you haven’t read it yet, go, go, go - it is amazing!
If you have some feedback on this Substack or would simply like to chat, here is the link to my free office hours, when I am “all yours” for an hour, and I can really help you with your business.
Sounds good?
Let’s go!
Remember, positioning always happens. No matter if we believe in it or not, clients and prospects will always form opinions about us and our product.
The only question is, do you want to be in control of it?
I think you should be.
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