4.05 – Enhancing Your Business Positioning Strategy
A positioning strategy emphasises the emotional fulfilment and psychological relevance of building emotional selling propositions (ESPs) over unique selling propositions (USPs). Relying solely on uniqueness isn’t sustainable, as competitors with more resources or faster time to market can easily replicate your product and erode any “unique” advantage. A successful positioning strategy focuses on highlighting the emotional and functional value your product offers, building trust in your quality and service claims, and encouraging customers to choose your product before considering competitors.
As you plan for growth, identify new markets where your ESP and positioning strategy will stand out and appeal to consumers. Consider if you need to adapt your ESP or how you position it for different cultures or demographics you aim to penetrate or dominate. The more you understand each market, the more effective your strategy will be.
Defining Your Position
Effective positioning drives mind share—awareness of your product compared to competitors—among consumers, which helps you gain market share. Your positioning statement should be believable, actionable, and reflect the core values of what you offer. It should clearly differentiate you from competitors and functional alternatives.
During your market analysis, compare your positioning strategy against your competitors’ to ensure you’re not just saying the same things in different words. Ensure your products and services fulfil the promises made in your positioning statements.
Aligning Your Positioning Strategy with Growth Initiatives
Once you’ve defined the emotional value you offer, along with the product value or competitive difference that sets you apart, you can begin building growth plans.
For example, if you produce and sell healthy organic snack foods to replace junk food heavily marketed to children, your positioning can highlight the health benefits of your snacks and the emotional relief parents feel by providing healthier options. With healthier yet tasty snack foods for children, you can expand into niche and geographical markets with high growth potential for health and fitness products.
Leveraging Influencers and Alliances
In any industry, a long list of influencers and organisations can help you resell your products or introduce them to new consumer groups aligned with your growth strategy. Building alliances with these influencers and organisations can significantly boost your market presence and drive growth.
By focusing on the emotional and functional value of your products, adapting your positioning for different markets, and leveraging strategic alliances, you can enhance your business positioning strategy and drive significant growth.
