Ways to Nail Your Competitive Positioning with Examples

There’s a lot of confusion as to what competitive positioning is really about today. Actually, the biggest confusion around competitive positioning is that it gets mislabeled for two things; it is not messaging and it is surely not copywriting. Rather, it is the strategy your business builds to answer three questions:

How are we going to approach the market of our target audience? What are the competitive alternatives our buyer could choose? In what ways are we different to those competitors? Now, you no longer have direct control over your competitive position in the market.

Let’s take a gander look at some of the practical competitive positioning tips and examples:

Ensure You Know the Market

First things first, you need to know where you fit in the market. A good way to go about this lies in running a market analysis. Be sure to review the landscape and take note of how many competitors are out there, what the potential market size and customer base looks like, and what the average revenue is for businesses in this space.

This is the perfect time to start thinking about your ideal customer persona (ICP). Who is your ideal customer? What are their likes and dislikes? What are their major pain points? What about your product or service that would appeal to them?

Undertake In-depth Competitor Research

Having a clear insight into your competitors is as crucial as knowing your own company and market, if not more. You should undertake in-depth competitor research to find out about your biggest competitors in your space, what customers like about their offerings, and the biggest complaints regarding their offerings.

While doing this, you should pay close attention to customer complaints and any gaps you find. If the vast majority of competitors get similar complains about a product or a lack of an offering, this is the perfect chance for you.

Assuming you run an online shoe store. If your direct competitors are all garnering negative remarks pertaining to their return policy, you could position yourself as the ‘customer-centric’ shoe store and offer a better return policy with a free trial period.

Of course, there are other practical competitive positioning tips and examples other than those mentioned in this guide. You can always enlist professional help in Singapore when things don’t seem to be working out to guarantee business success.