Competitive positioning is the foundation for your entire business. It defines how you’ll distinguish your offerings and create value for the marketplace.
Competitive positioning strategy is often the first exercise entrepreneurs undertake before deciding to create a new business. It defines the market need the company will fulfill, and it outlines how the company will protect and grow its position. It’s the base for a company’s entire go-to-market strategy, and it helps define brand, marketing communications and marketing and sales strategies.
Competitive Positioning Value
While many companies achieve success without a formal strategy, they’ll experience sustained long-term growth only with a well-defined competitive strategy (or with sheer luck). Without clear differentiation, it takes more time and money to acquire customers. And it becomes more difficult to keep those customers and to keep margins from declining.
Many business owners and founders have a loose strategy in their head, but it can be difficult to execute without a well-defined foundation for marketing, sales, pricing and distribution decisions. A good strategy helps:
Channel business investments into the areas with the highest returns
Carve out and protect “turf” in the marketplace
Increase margins over the long-term
Build a loyal customer base
Competitive Positioning Tools in Growth Panel
Market Profiling. Document the size of your markets or potential markets; list major competitors, their stage of growth and their positions; and break down your market segments. Evaluate the true problems, wants and needs of the market.
Competitive Analysis. Define the strengths, weaknesses, opportunities and threats in the competitive marketplace. Rate your company and direct competitors. Determine the true competitive nature of the marketplace.
Create a Positioning Strategy. Define your value proposition and identify areas where you’re strong and your competition is vulnerable. Stake your position, and create a plan to protect and expand that position.
Find a New Market. Research and evaluate to determine what other markets could benefit from your products and services.
Your may need to address your competitive positioning if:
Market share isn’t growing at 20% per year
Sales are flat or decreasing
All company leaders don’t have a clear understanding of the company’s competitive strategy
Margins are shrinking
Ownership is considering a company sale in the next 3-5 years
What they’re saying...
Your tools have helped me identify what questions to ask to program directors, as well as to admissions reps, and develop marketing campaigns with logics (sic) and clear target numbers behind them. Also, creative briefs are very handy when communicating with my writers and designers. They eliminate the room for confusion and misunderstandings that used to occur during the creative development stage."
Director of Marketing, The Musician’s Institute
If you’d like to sell Growth Panel licenses, we’ll share license revenue. Our distributor program is like an affiliate program, with greater upside.
We require that our distributors have a license, so step one is to set up yours.
If you’re a consultant and have quality I.P. that adds value, we’ll review it and consider adding it to our product under your own brand. That means more exposure for you, more leads, and more engagements.