Why Your Tech Company Needs A Positioning Statement
If you’ve realized that you struggle to attract continual sales, you may need to consider creating a positioning statement for your business. We’ve found through extensive HubSpot training, that this is the initial step to marketing success. While you may feel like everyone could be a potential candidate for your offerings that should never be the focus for any strategic approach.
Positioning allows you to narrow down your target market and articulate the goals of your business. You may be thinking, “Why do I need to narrow down my offerings? I need more business, not less.” Hear us out. Positioning will narrow your market AND bring you more business. Don’t believe us? Read the list below to learn the benefits.
A positioning statement provides your company with direction.
We all have the habit of falling into a slump. Maybe you feel stuck and unsure of what to do next or maybe you don’t know the best way to get something done. When positioned correctly, your marketing and sales teams will have a clearer understanding of what they do, how they do it and with whom, in order to move forward. Each team can use the insights of the audience and its problems within the demographic and/or industry to identify the types of necessary marketing campaigns to create. This clarity allows the team to spend more time nurturing relationships with customers with the highest buying potential.
A positioning statement breaks down geographic borders surrounding your company.
When you clearly define your specialty and hone your skills in that area, you develop a knack for what you do. This enables you to impress customers who can help spread the word about your services. When you’re known for an area of specialization, you open doors outside of your geographic area. Soon enough, people will be calling from counties, cities, and states away because they know you as the best at what you do. Not convinced? Think about the health industry. If you’re having knee problems, would you rather go to a general physician or a knee specialist? All consumers want to know they’re in the best hands with the services they require. Positioning yourself as a specialty provider gives you the chance to acquire those customers.
A positioning statement provides your Marketing and Sales teams with a clear target market.
Positioning can help you define audience categories and allow you to focus on your buyer’s persona. Identifying, for example, specific industries or specific sized companies you wish to serve can give you context for your marketing and sales process. This context helps you assess what customers need and how they buy, and it helps aid in the creation of content around your buyer’s unique pain points. All of these factors can lead to the creation of useful and relevant content to distribute throughout the most appropriate marketing channels.
A positioning statement enables you to have a strong lead qualifying process.
If you know what demographic and/or industry you’re looking for and whom you’re looking for within that demographic and/or industry, then positioning yourself within those areas and tailoring your messaging to those individuals allows you to attract the right leads. Your marketing team will know what content to create to reach those individuals and you will bring in more qualified leads to your sales team. This saves your sales team time and energy, because they’ll know what qualities to look for in a lead. For example, if your business positions itself as a leader in providing services for people with Apple products, your sales team will know not to spend as much time on a lead who owns a PC. This lead’s needs and requests likely don’t match up to the services you provide and wouldn’t be worth the time spent.
A positioning statement drives premium pricing for the services you offer.
When you choose an area of expertise, you gradually become more knowledgeable about the area. As you build up a strong customer base within that area, industry, or service, you can better understand contextual concepts and your community will come to know you as an expert. This enables you to charge premium pricing. While other competitors are stuck spending time learning the areas in which they don’t specialize, you’ll already have that knowledge. You can instead focus your time creating new ideas and products within your specialization. Customers will value your business for not only WHAT you do, but for HOW you do it.
Positioning plays a key role in the marketing and sales process within an organization. While you may be under the impression that you know it all in your head, there is a lot to be said about writing it out and making sure that all parts of the business understand exactly what your company’s positioning is. It can be the difference between mediocre marketing that drives “enough” leads to excellent marketing that gives you the ability to plan for growth for years to come.