Creating a Clear Crystal Ball – Our Positioning Statement
In last week’s blog, I reviewed how EDIStech discovered our WHY? Knowing What You Do is one thing, but knowing Why You Do It can be very powerful for uniting your team to a common purpose.
What is a Positioning Statement?
Having a very clear and concise Positioning Statement is just as important as knowing your WHY?
A positioning statement identifies;
- Who you do business with
- What problems do you solve for your clients – (ie) Their Pain Points
- How quickly can you typically solved these problems (in terms of months, days etc)
- The resulting benefit to your clients in terms of reducing costs, increasing productivity, and improving your business’ reputation etc – What does life look like after the client implements your solution?
- A brief overview of how you do the above.
Ideally, the Positioning Statement should be no more than two paragraphs.
Your Ideal Client
This aspect is very important, especially if your business is seeking to break into overseas markets as EDIStech is currently doing. If you have not defined very clearly who your ideal client is, then you can be in jeopardy of adopting a ‘Shotgun’ approach rather than ‘Sniper’ approach to marketing, business development, and sales focus. This results in wasting money, time and effort. Since completing our Positioning Statement, EDIStech has a very clear understanding of who our customer is in terms of sector preference and client turnover.
Client Pain Points and Timing
Points 2 and 3 are critically important. This is your opportunity to show your prospective clients that you understand their pain points. More importantly, this is your opportunity to show how your solution alleviates those issues and how quickly you can do it.
Benefits of Your Solution
In covering point 4 above, the Positioning Statement should include percentage improvements, ROI in terms of months, dollar savings etc. This gives clients a clear understanding of the benefits that will ensue if they adopt your solution.
Going through this exercise means you need to step inside your client’s shoes and see the world from their perspective, especially if they have not experienced your solution before.
What does EDIStech do with its Positioning Statement?
- All our presentations to prospective clients, follow the Positioning Statement format.
- Our website and any marketing material cover all the points in our Positioning Statement
- All staff can be confident in giving a 30-second ‘Elevator Pitch’ as they are familiar with our Positioning Statement. It’s easy to remember percentages and time frames; For example; “You will recover the cost of our implementation in 2 months”
Join me next week as I discuss in my penultimate blog – the benefit of including staff in your strategic planning process and adopting an open-book style of management.