Positioning is how you differentiate your brand in the minds of your customers and prospects

Each of the following headings represents a critical element in the formulation of the highly successful marketing strategy.

PROSPECT
Do you have a very clear focus on the type of client to whom you wish to provide services?

• Can you segment your prospect/client market by such factors as fit, type and geography?
• Define your desired prospect market in clear language.

PERCEPTION
The market of service providers is crowded. What is your perceived position of difference?

• How would you like an existing client to describe your firm to a friend or colleague?
• Financial services are difficult for many clients and prospects to differentiate. Why are you different?
• Do you add value to the products and services you provide? How?
• How would you respond to the challenge. Give me three good reasons why we should deal with you’?
• Now write one or two short sentences that define your ‘positively perceived position of difference’.

PRODUCT
Is your product what you assume it is?
Would clients and prospects agree with you?

1. If you asked your clients what they buy from or invest in through you, how they would respond?

2. List 5 reasons clients buy from and/or invest with you.
Write a sentence that defines your real product and/or service offering.

PRICE
‘Price is what you pay. Value is what you get’

• Do clients and prospects have a clear understanding of your policy?
• Do clients and prospects have a clear interpretation of the value they receive?
• Do you provide clients/prospects with a ‘menu’ showing prices for each service delivered?
• Is there a clear benefit for every feature you provide within your price.?
• Write a clear and simple value proposition that can be understood by staff, prospects and clients.

PROMISE
What is the ‘promise’ your business takes to the market?

• Can you state why you are in business in language a prospect or a client would understand?
• Write a considered, succinct ‘statement of purpose’.

PROMOTION
When the previous 5 marketing issues are resolved, good promotion will be easy to achieve.

• Does your current literature [and other media] promote your positioning, product and price policy?
• Can you list at least 3 ways in which it does?
• How do you showcase your value proposition to advantage?
• Write a sentence that defines your promotional message for the next 12 months.

Once your carefully considered answers to the questions are answered, you will have the basis of developing your positively perceived position of difference and achieving a powerful and meaningful marketing strategy that will make selling your products and services much easier. B&BD