So how do you create a position of your product or service that gets people to want to buy your product instead of the competition's? There are many methods, but I will describe three of the most effective here.
The first is to focus on a feature of your product -- one that's different or unique, and one that delivers an important benefit to the user.
The second way to create a position of your product or service with selling power is to narrow your target market and focus on a specific market niche. For example, there are thousands of business consultants out there, all fighting for clients. But not my old high school chum, Gary Gerber. He has all the clients he can handle, with potential clients waiting in line to hire him. Why? Because he's not just a business development consultant -- Gary is a business development consultant who specializes in eye doctors.
The third way to create a winning product is with branding. The branding approach usually takes a massive, costly advertising campaign that small businesses can't usually afford, although there are ways to shortcut this, such as with a celebrity spokesperson. A great example is the George Foreman grill: This is clearly not the world's best grill, nor do I recall the manufacturer making this claim in their commercials. But it is the only grill you can buy with the name "George Foreman" on it. So if you want a grill that cooks good food, you can get it lots of places. But if you want a "George Foreman" grill, you can only get it from the George Foreman grill company.
A good place to start when formulating your own position of your product or service is by asking yourself these questions:
What is different about my product that delivers an important benefit to the user?
Is there an industry, application, or other niche I can specialize in?
Is there a way to brand my company or product in a unique fashion with appeal to consumers?
The more your positioning statement differentiates you from your competitors, the easier it will be for you to promote and sell your product. The position of your product or service is the reason prospects should buy from you instead of other vendors. If you cannot articulate why they should hire you instead of your competitor across the street, how can you answer the question "Why should we buy from you?" when prospects ask it? And they ask it all the time.
Here are the three components of a successful position of your product or service:
1. Each advertisement must make a proposition to the consumer.
It must say "Buy this product, and you will get this specific benefit." So to begin with, there must be a compelling benefit. For instance, "The CryoQuad Quiet-Cool air conditioner reduces your summer electric bills by 25 percent while keeping your house cool and comfortable."
2. The proposition must be one that the competition either cannot, or does not, offer.
It must be unique -- either in brand or a claim not otherwise made in that particular field. This is the "unique" in "unique selling proposition." You must clearly differentiate yourself from the competition. For example, "The CryoQuad Quiet-Cool air conditioner features our patented energy-saving TwinStar freon pump that spreads the cool air evenly throughout the room vs. other units that only cool the air in their immediate area."
3. The proposition must be so strong that it can move the mass millions (i.e., pull in new customers to your product).
This means the position of your product or service cannot be a trivial difference; it has to be something important, something customers really care about. Consid