“Positioning is not what you do to a product.
Positioning is what you do to the mind of the prospect.
That is, you position the product in the mind of the prospect.”
Introduction
Market positioning is one of the fundamental elements of marketing. In short, it is a brand’s unique way of providing value to its customers. Furthermore, proper positioning is choosing to be perceived as something specific in the mind of your potential clients. That way they can associate your law firm with a unique solution to a certain problem.
Successful market positioning strategies are based on several foundations. First, the deep understanding of your service and the overall marketplace. Finally, differentiating your company from the competition. Here are some types of market positioning strategies:
1. Product value
Product or service characteristics associate your brand with a certain value that is beneficial to customers. For example, your main law firm’s value can be based on reliability. Hence, by using the proper communication tools, your brand will be known as reliable to the customers. In addition, you should strive to consistently communicate the most unique benefit of your services.
2. Product price
Pricing is an essential factor that impacts the decisions of most customers. Therefore, positioning your services based on price associates your brand with competitive pricing. However, positioning solely on price can be tricky. The truth is, there is no loyalty for businesses positioned on the low end of price. Reasonably, the customer will go to the law firm offering the lowest.
3. Product quality
Accordingly, positioning a product or service based on its quality is different from positioning based on price. Often, the high-quality service is the focal point of a brand’s communication. The reason for that is to create a desire so customers want the product regardless of the price. Furthermore, price and perceived quality usually go together. As a result, they’re often the starter attributes for perception maps that can help you with market positioning.
4. Product use
Associating your product with a particular use is another way to position your brand in the market. For example, different positioning of the same service aims to target a different audience. That way your services can satisfy numerous customer needs. In order to satisfy your customer needs, you need to determine your audience first. Afterward, use the valuable data to craft your ideal buyer persona.
5. Customer needs
Customer needs are also an important part of your marketing strategy. For a start, it’s important to know your customer’s desires and needs. Furthermore, it’s important to successfully provide them with a solution to their problems. As a result, your will gain their loyalty and very likely an expansion of your audience.
6. Competitors
Certainly, differentiation is what sets your product or service apart from the crowd. That’s why you should aim to position your brand as unique. Moreover, to present it as a better choice in comparison to your competitor’s brand. That way you could reduce your competition. Therefore it’s important to conduct a competitor analysis in order to discover your competitors. in addition, this process will provide you with important data you can use to improve your services.
Conclusion
Besides these examples, your company’s positioning strategy will be affected by plenty of variables. For example, they will be related to customers’ requirements and motivations as well as by competitors’ actions. Explore these positioning strategies in order to place your services as favorable compared to other options in the marketplace. If you want to learn more about this topic, we recommend reading The most effective market positioning strategies in 2021.
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