CREATING THE POSITIONING STATEMENT FIRST.
I have never approached the process of creating a position statement at the start of market validation (primary market research). Typically it is a conclusion that is made and added to a business plan after all assumptions have been researched.
This time around as I pivot my business: looking to connect with a new customer segment and possibly operating through a different business model, I am trying new things.
WHAT IS A POSITIONING STATEMENT ANYWAYS?
The positioning statement is the hypothesis that I want to test out in the marketplace.
It is a brief statement that addresses the problem that my expected market has and the solutions and value I offer to help them solve it.
This is probably a lot easier for me since I have been in the industry for over 7 years and have a good understanding of what my customer segments needs are and can answer most of the questions that go into formulating a positioning statement. The challenge for me is even though I have been in this industry for 7 years, business incubation, at the level it is at today, is less than 5 years old which means I am in a new industry with limited history to draw from.
I identified that I have 6 potential customer segments. I am working to develop the ideal client profile for each but in the meantime I focused on what their main problems are and created a simple statement that I will present to them to see if it connects.
To develop a positioning statement you should be able to fill in this statement with the best assumptions you have about your customer segments:
For (identify the customer segment / target market)
Who need ( What is the problem they need a solution to / compelling reason to buy)
Your Solution (list your product / service that solves that problem)
That provides (key benefit that addresses the compelling reason to buy)
Unlike competition x,y,z (leading solution provided by who)
Our Solution (List the key competitive advantage)
Following this outline one of my positioning statements reads:
“For parents that want to fulfill their dreams to work from home and be able to spend more time with their children, MarketStart’s Plan For Business program provides an easy to follow business start up and management training unlike community programs and colleges that have tough eligibility requirements or high tuition rates. MarketStart’s Plan For Business start up training program is an affordable, supportive solution for people who dream of starting a business and living a life on their own terms.”
The outlines just needs to provide specific directions for punctuation.