Before you invest money into selling or marketing your product, take the time to figure out your positioning.

You might be thinking… well, I’ve got my messaging and branding down, I’m good to go, right?

Not quite. Positioning is very different from your messaging and branding.

Positioning done right will help inform your marketing and sales messaging downstream. It clarifies how your product is the best in the world at providing some value that a well-defined set of customers care a lot about.

Positioning expert, April Dunford, has an excellent process that I recommend checking out. Here’s a high level of it:

1️⃣ 🛠️ – Competitive Alternatives

First, understand your product’s competitive alternatives. If you didn’t exist, what would people do?

Go beyond just your competitors and include what people will continue to use if they maintain the status quo.

2️⃣ 💪 – Unique Capabilities

Second, clarify your unique capabilities. What have you got that competitors don’t have?

Think about your features and functions that make you unique.

3️⃣ 💵 – Value Generated

Third, figure out the value you create. What’s the impact that your unique capabilities create for customers?

Clarify the tangible and intangible ROI they will get from using your product.

4️⃣ ✂️ – Customer Segment

Fourth, determine the customer segment you’re going after. Who are the actual customers that are a really, really good fit for what we do?

Try to be as specific as you can based on the knowledge, experience, or research you have.

5️⃣ 🥇 – Market Category

Fifth, specify the market category you’re playing in. What is the definition of the market you intend to win?

Think about this from your customer’s perspective. If they were to buy your product under an existing “line item” in their budget, what would it be?

Whether you’re building out a new product or need to reimagine a new pathway for an existing product, take the time to establish your positioning.

Trust me, your sales and marketing team will thank you for it.

For further reading on this topic, I highly recommend April’s fantastic book, Obviously Awesome. 👌💯