What is market positioning? Why does it actually matter for your business? According to today’s guest, Shannyn Lee, “Positioning is fundamental business strategy. It is what you need to do to make sure that the world knows who you help and how you help them and what’s different about you.”
Shannyn Lee is the Director of Coaching at Win Without Pitching. She helps her clients to translate the Win Without Pitching ideals into real change with lasting results. In this episode of Wingnut Social, she shares how YOU can properly position your business for maximum results.What You’ll Hear On This Episode of Wingnut Social
Shannyn points out that positioning is an exercise in sacrifice. People are afraid that they’ll be left behind or they’re being pigeon-holed when they choose a niche. Or they’re worried they’ll get bored doing one thing. But the reality is that clear market positioning is THE best thing you can do for your business.
Shannyn shares that Win Without Pitching’s mission statement is that they’re experts in sales training for creative professionals. For them, the “what” is sales training and the “who” is creative professionals. One of Shannyn’s client’s in Sydney, Australia does “interior design for the hardest working rooms in your home” i.e. the laundry room, utility room, and closets.
Shannyn points out that there are different ways to slice and dice it. You can choose a narrow vertical—like marketing for banks—or you can be an expert in marketing to millennials. But you have to focus on a vertical, demographic, or unique point of view.
This allows you to be bold about who you are, why you believe what you believe, and why there is a certain way to approach the work.Repositioning your positioning in Marketing
How do you know if your market positioning isn’t right? Shannyn notes that your biggest clue will be in the sales process. If you can’t explain who you are, how you help, and how you’re different—it’s a sign. Your prospect will often haggle on price, won’t let you lead the conversation, and won’t be bought-in.
So how do you pivot? How do you create a new mission statement for your business? Shannyn’s advice is to focus on what makes you the best at something: What is your particular perspective? What are the outcomes that you bring as a result? What are the things about your business that you’re an expert in? Or what do you want to build expertise around?
It begins by looking at an area of focus. Choose a discipline (interior design) and choose a market or specialty. Generate ideas around market and discipline before you add flowery or descriptive statements. Shannyn emphasizes that “There is a way for you to go all-in on who you are. Your personality and your perspective on how things are done help differentiate you from others in the interior design space.”
How does positioning impact your pricing? How do you get comfortable talking about money? When should you avoid changing your positioning? Listen to the whole episode to learn more!Connect With Darla & Wingnut Social
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