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Guide to Positioning a Premium-Priced Product or Service
Finding your niche can help boost sales and promote repeat business- Whether you know how and where your target market buys your kind of product, or uses your type of service
- If there are innovative ways that you could deliver your product or service that would be less expensive, more effective or easier for your customer.
Action Steps
The best contacts and resources to help you get it done
Define your image
Branding — the name and description you select for your product or service — is critical to keeping yourself on top of your buyers' minds.
I recommend:
Sign up for a course in Guerrilla Marketing at NitroMarketing.com. Get real-world advice from a marketer who is required reading in many top MBA programs.
Narrow your focus
The more defined your market, the fewer competitors you will have and the more customers will seek you out.
I recommend:
Software, reports and advice from Niche Marketing Research Center will help you select the right niche and reach it effectively. Duct Tape Marketing is a great resource for hands-on marketing ideas, including books and CD Rom instruction.
Be a big fish in a small pond
Consider advertising in specialized publications that are read by target audiences defined by demographics, lifestyle or need. It will increase the chances of your ad will be noticed by people actually in the market for what you have to offer.
I recommend:
Read up on Entrepreneur.com's Creative Brainstorming Techniques, then find ways to market big ideas on any budget.
Research your audience
It's worth the investment in market research to find out what people think of your area of product or service. And if your business is already established, what do they already think of you?
I recommend:
Biz360 offers a guide that will help you to monitor industry media trends for positioning your product or service within a new market.
Repetition, repetition, repetition
The most successful positioning statements are easy to understand and are repeated over and over and over.
I recommend:
Stop worrying about your written materials. Clear Copy Solutions offers copywriting services to help you stand out from the crowd.
Tips & Tactics
Helpful advice for making the most of this Guide- A good publicity strategy helps to grow your reputation as an authority in your field.
- Don't compare your product or service to something similar; compare it to what's on the next level, such as private consultation or custom manufacturing.
