Develop a Positioning Strategy for Your Target Market

Transcript:

Positioning your personal strategy is something you’ll be doing on your own. All the work you just did will feed into what your position strategy is for that target market. So, yes, on page six, you will for two examples just draw a line down the middle and write a positioning strategy, talking about those six things. So you’re just basically in those boxes writing thoughts about their purchase preferences or gratification mode or how they view products and services, those types of things. You’re gonna put that all together and it doesn’t need to be remotely perfect, but it’s how you want to position yourself to that target market.

So take a crack at both of them. If you’re taking those six things, you’ve already identified the generic component of it, then translate them into specific language and wording. There are some really good examples. It’s more the implication of this thinking than actually coming up with a totally word-smithed thing, because a lot of this positioning stuff is internal. This is stuff you and your team is embracing. It’s not a public document as a position strategy. You don’t have to worry about wordsmithing the crap out of this thing.  

Alright, you should use, as much as possible, the exact words and style. Everything you do in your marketing and selling efforts springs from this and gives everyone in your company a feel for your positioning. I don’t want to harp on it, but how many of you feel, at least on the buyer’s or seller’s side, that the whole process of attracting people to your business is completely broken? Does anyone feel that way? Do businesses just generate leads by?

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I know there’s some people in the room that are sort of geeky about this and they look at their numbers. I have no idea what Boomtown even says to get people to show up on our website, such as where I’m spending money. I’m a leverage kind of guy, so I would never get into that detail, but we don’t even know if they’re getting a bunch of renters for rental homes in Charlotte. We don’t know if we trick them into registering and that’s why they’re crap leads. I mean, seriously! The amount of thought process we give into the buyer’s side of our business is ridiculous, but somehow we make it work.

I think going forward with 25 of these platforms in our market where Boomtown promised me there would be never more than four. That’s not the way business is going to exist in the next one to three years. And if you don’t figure all of this stuff out now, especially with the turn in the market, it’s not going to be good.

I think everyone knows unique selling propositions. Hopefully having done this will work and will help you realize a USP for a first-time buyer won’t be a USP for a luxury buyer. The one-size-fits-all USP is not the way.