Brand positioning is absolutely vital to the success of your organization. This video series is designed to show how you can determine your position in the marketplace. What are implications of that position, what decisions can you make?
We’ve seen cases where companies have made the decision to sell to the wrong customer, to change the wrong customer. And by extension, not focusing their resources on the right customers and getting the love from those customers that they should be.
It’s a difficult conversation all types of organizations are having – “good fit” customers vs. “bad fit” customers. It’s at the center of this conversation on positioning. If you look at decisions you’ve made, such as pushing communications out to customers who are not responding. Is it because what you’re selling isn’t relevant to them?
These customers generally do not fit with your business model and require more and more for your organization – they are “bad fits” – and they often lead to losses:
- We see companies expanding their product lines to satisfy unhappy customers. These companies end up with bloated product/solution portfolios in trying to be all things to all customers.
- When you think about the amount of resources and time your teams are spending in trying to appeal to these companies, you’re running up the costs in trying to retain these bad fit customers.
“Bad fit” customers don’t impact direct costs alone – they can also cost you lost opportunities with other customers.
Through the rest of this series, we will be diving into a B2C case where the client wanted to define its competitive edge. We will show you how we helped uncover the segments in the market, profiled our client’s position relative to these segments’ needs as well as their competitors, and profiled the segments based on value. This positioning research shaped this client’s strategy and we hope that these insights help you as well.
You’ve got a market. That market dictates your positions available, what you can do. You then design your business model, you execute against it, you communicate. That establishes how successful you are. Brand positioning is a great tool and should be in your arsenal for making decisions.