Have you been selling a product or service for some time, but think you might need to do something new to keep up with the market? Offer something fresh?
One of the problems with making significant changes to your products or services is that it tends to carry a high level of risk. There is a risk you could alienate your existing prospects. There is always risk in starting over and trying something new and untested, as the untried and untested is more likely to fail.
But what if you could change your product or service without really changing it at all! Here are a few ideas on how to make changes, by changing the pitch, and without going to the effort, or taking the risk of making fundamental changes.
One of the great things about direct marketing, of which search marketing is a part, is that we’re not likely to be starting with products and services that have had an awareness and associations built up over many years - like Coca-Cola, for example. We get to modify the position, if we so choose.
Position, in marketing, means perception. Perception in the minds of the prospective customer. We can appeal to perceptions, or shape our product to fit perceptions, depending on what our prospects want.
For example, we could take the same car and market it to two different groups using positioning. To one group, we emphasize safety features above all else. To another group, we emphasize performance. The product doesn’t change, but the positioning does, and thus appeals to different groups of buyers. In reality, a car manufacturer probably wouldn’t do this, at least not in the same market, as it could send confusing messages.
However, on the web, we can often chop and change products, and target different groups, and one doesn’t necessarily need to overlap another.
A vertical is a group of similar businesses and customers that engage in trade based on specific and specialized need. They may be a subset of a larger market. For example, PPC is a vertical within internet marketing, itself a subset of general marketing.
In terms of positioning within vertical markets, imagine you’re a software developer in the search marketing space. If you were talking to a group of manufacturers, and want to talk about what you do in a way that is understandable to this audience, you might talk to them in broad terms about marketing.
If you were talking to a group of marketers you might talk more specifically about search marketing. If you were talking to a room full of search marketers, you might talk more specifically again about the PPC optimization software you’re working on. If you were talking to a room of PPC optimization software developers.....and so on.
They are all part of the same market - and they might all need what you have - but each audience exists in different verticals, and so you change the message to suit. Changing vertical positioning is when you target a different vertical within the same market. An example of this might be a landlord who rents out a house to a single tenant changes to renting it out students on a room by room basis with “shared facilities”. She’s still in the accommodation provision market, the product is the same, but it is pitched to a different niche.
Can you identify different verticals in your market to which you product or service might also appeal? Can you configure your product, without making fundamental changes, so that it appeals to the needs of a different niche within your market?
Positioning In Time
Positioning in time, sometimes described as horizontal positioning in direct marketing circles, refers to the point in time when a person buys something, and positioning the message to appeal to different buyers depending on where they are in the buy-cycle.
For example, if someone is genuinely new to your product, and doesn’t even know they want it, then you could pitch your advertising based on the benefits your product provides. If I wanted to sell, say, a revolutionary new power cell, I wouldn’t talk about specifications to someone unfamiliar with the product, I’d talk about the fact that it replaces the need to be on an electricity grid, so the buyer doesn’t need to pay line charges. I’d emphasize benefits.
If someone is already aware of these new power cells, and knows all the benefits, I would likely emphasize other aspects, such as features and price more than benefits, as the buyer should already understand them.
This type of positioning will be familiar to people who do a lot of PPC. The link text, message and landing page changes to accommodate buyers at different stages in the sales cycle. The product doesn’t change, but the message does.
Another way to reposition a product or service is to use an isolation technique. Take a single aspect of the product and make it a major part of the offer. For example, TIME magazine sells subscriptions to a magazine, but their advertising often focuses on the “free” gifts that accompany a subscription. This technique is often used when the main product itself is well known to the audience, and there’s not much new that can be said about it.
Many software companies who formerly sold their software now give their software away as part of a freeware model, but sell software support and maintenance services around it. They isolate an aspect that was always there - service - but now emphasize it, and push the actual product into the background. This tends to happen when the product becomes commodity and there are few ways to differentiate it without making significant changes.
Think about bundling products or services together to appeal to a different vertical.
For example, there might be a small market for individual electronic components, but a large market for a “phone tapping device”. Something Woz and Steve Jobs built a company on.
Music distribution companies, like Spotify, take individual tunes, bundle them together as a huge library, and sell subscriptions to it, as opposed to selling on a song by song, basis, like iTunes do.
Individual garden plants and potting accessories might not be very interesting, but bundled together as a “kitchen greenhouse” they might appeal to an audience of foodies who don’t necessarily see themselves as gardeners.
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