Article: Ask yourself what types of businesses or consumers you want to reach and what their interests are. Consider how your ideal customer or your target market are influenced and how they make their decisions. Try to be as specific as possible. For example, if you are marketing a new baby product you may target middle-upper class expectant mothers. If you are marketing a protein supplement for healthy weight gain, you may target men ages 24-40. What makes your company or brand stand apart from the other competitors? Think about the services your company offers that you are most proud of or confident in, and how this provides a certain value for your customers. For example, you may be able to provide the lowest prices for a new baby product, or the highest quality protein supplements in the market. Once you’ve identified your target audience, or customer, as well as your unique value, you need to then provide evidence to back up your claims. You need to get your customer to believe in your company’s ability to prove its value and follow through on its marketing promises.  For example, you may note that your company eliminates costly overhead by only selling the new baby product online. Or you may note that you have a unique partnership with producers to sell only the highest quality protein supplements. It’s important to only claim as much as you can prove or follow through on. Don’t make exaggerated or unreasonable value claims, such as, “we will match any other price you find online”, if your company or brand is not willing to actually commit to this claim and follow through on it. Most position statements follow the same template: For [insert Target Market], the [insert Brand] is the [insert Point of Differentiation] among all[insert Frame of Reference] because [insert Reason to Believe].  The point of differentiation (POD) should describe how your brand or new product will help your customers in ways that distinguish you from your competitors. The frame of reference (FOR) is the category or segment in the market where your company competes with other companies. The reason to believe should be a compelling phrase that gives your customer a reason to believe in your claims. For example, Amazon’s position statement is: For World Wide Web users who enjoy books, Amazon.com is a retail bookseller that provides instant access to over 1.1 million books. Note that Amazon identifies its target market, places its brand up front, inserts the market it is operating in, and notes how it will follow through on its claim. Another example is Volvo’s position statement: For upscale American families, Volvo is the family automobile that offers maximum safety. This is a less specific position statement than the Amazon statement, but it still communicates Volvo’s brand. Volvo notes its target market, inserts its operating market, and includes how the brand will make consumers believe it’s claim. Look at the position statement examples, as well as the template and create several possible position statements for your company. Say you are trying to market a new baby toy. Your target market may be middle to upper class expectant mothers, you are marketing for the baby toys sector, and you feel your product is unique because it is sold exclusively online at a low price and offers educational value as well as recreational play for mother and child.  Your initial position statement may be long and detailed. For example: For middle to upper class expectant mothers, BabaTots is a baby toy that offers fun and engaging play for mother and child, at an affordable price point and only available online. You may then streamline your first try so the statement is concise and clear. For example: For middle to upper class expectant mothers, BabaTots is an interactive baby toy that provides educational value and recreational play for mother and child at an affordable price point.
What is a summary of what this article is about?
Define your ideal customer, or your target market. Note the unique value your company offers. Show your company’s value to the customer. Use a standard template to create your position statement. Create your brand or company position statement.