Positioning your company is important, because it clarifies three things:
- Why you started
- Why customers should buy
- Why great people should work with you
So since your position should inspire and energize others, here are virtues to aspire to.
This isn’t war, so don’t use war-like terms. Your customers don’t care if you want to kill the competition.
All they want to know is what value they’ll get from using your product or service.
Focus on the Customer
Positioning isn’t about what you want to become. And describing your business as “the leading company” is egocentric.
You want your statement to be customer-centric.
Be Unique AND Valuable
Both qualities are important. Why?
Uniqueness (-) Value = A product no one will buy
Lack of Uniqueness (+) Lack of Value = Just plain stupidity
Value (-) Uniqueness = A price war
Uniqueness (+) Value = Good profit margin and appreciation from your customers
Come up with a Remarkable Name
Whether for your company, product, or service, here are some tips to help.
When your name appears in an alphabetical list someday, you’ll want to be near the front of that list rather than the end.
Try to avoid words that start with X or Z
If you heard “Xyland,” would you think it’s spelled “Xyland” or “Zyland?”
Try to avoid numbers
For reasons similar to avoiding X and Z. People won’t know whether to use numerals (1 2 3) or spell it out (One Two Three).
Look for Verb Potential
If you grow in popularity, your name will enter mainstream vernacular. Then you’ll be happy you did this.
For instance, people don’t photocopy paper – they “Xerox” them. They don’t search for words on the internet – they “Google” it.
If it’s personal, potential customers won’t need to imagine how a product or service meets their need.
Impersonal – Raising the grades of kids in your school district.
Personal – Ensuring that Billy gets into college.
Use Proof Points
Instead of using overused adjectives like easy, safe, or fast to describe what you offer, a better way to stand out is to use concrete proof points.
Easy – You’ll set it up in 15 minutes without any special tools.
Safe – No one has ever broken in.
Fast – Double your reading speed in two weeks!
Don’t say this:
“Utilizing a combination of fundamental and technical investing techniques, we help you choose high-performing stocks.”
Finance experts may understand this easily. But to the rest of us, this is pure gibberish. Don’t use industry jargon. A lot more people than just insiders need to understand what you do.
Instead, try something like this:
“Helping you beat the market.”
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