Here's a 5-part framework to position your product so you drive more sales:
Positioning is creating the right context for your product.
It allows you to:
• Charge premium pricing
• Convert more customers
• Get less churn
• Have shorter sales cycles
Best of all:
You stop competing with everyone.
You start cruising in your own lane.
In her book Obviously Awesome, April Dunford lays out how to find and win your market with positioning.
The 5 step process:
1) Compare Alternatives
2) List Key Unique Attributes
3) Outline your key value
4) Find Customers that care most
5) Create the Right Market Context
You need to be clear about:
• What you do well
• What you don't do well
• Compare them to your competitors
By being honest with yourself.
Doing so allows you to create a unique position in the minds of your customers.
Podia does a great job here.
Your closest competitor is likely not another startup.
In reality, it is:
• A spreadsheet
• Hire an intern
• Do nothing
You can learn this by asking your prospective or existing customers:
• How are you currently solving this problem?
• What tool were you using before us?
What features do you have that others don't?
What makes you unique?
What makes you different.
Here Maze provides features not traditionally offered together in user research tools.
What is that key value for our potential customers.
How does each it make their lives better?
What are the real benefits of your solution?
Retool does a great job of articulating the value.
You can't be everything to everyone.
Focus on the customers that suffer from the problem most.
And care about that special feature you offer.
Learn details about that customer & why they value it.
Retool's best customers value time saved.
You want to find the best market to position your product in.
Where the value is clear to the buyer.
And WIN that market.
Karbon would lose as general project management tool.
But for Accountants = They Win
Positioning in the right way can have a huge impact on your business.
Follow this process and create the right market context for your product.
It's easier to find and win your market than you think.