Position Yourself For Profit
Imagine, a 6-star day care center which provides added benefits for a higher fee, a day care center positioned as the ‘BMW’ of day care.
What do you think about that?
Of course, some people will like it and are prepared to pay and some people won’t.
Imagine: the children get on-site chefs for personalised, healthy meals, handmade, extra comfortable cots and fingerprint security systems.
Two lessons to learn from this example for your marketing:
Lesson 1:
Position your offers to ONE segment of the consumer market. Be specific, learn all you can about those people and most of all, make sure you test your idea.
Your best way of learning what your consumer wants, is by simply asking. Do a survey or ask questions in groups where your consumer ‘hangs out’, this is important. Friends, relatives or groups not made up of your target audience won’t be reliable test ‘material’.
Lesson 2:
Decide on high price or low end of market offer and be very clear on which it is. You see, so many people try to cut their offer pricing to win more business. Don’t cut, create a low cost offer versus a high end offer
What this day care centre has done is position themselves for profit. They have differentiated themselves by charging more for higher end services.
And as a result, they probably get a better client who they can better serve.
And they make profits with less clients rather than needing many.
So think about how you can apply this to your business and marketing:
- Would you rather work with high paying clients and have less of them?
- How would your offer have to look to attract high paying clients?
- Do you already have all the extras you could offer or do you need to create them?
- Or do you decide to offer low end products?
This can work perfectly well for you, too. And it is not necessarily more work, if you automate it. You can automate the marketing and you can automate the product delivery.
In fact, many businesses can create both, high end and lower end products and run them simultaneously.
Bring clients in on the lower end and set up your marketing on autopilot, creating interest for those clients to want to come up and take advantage of a more exclusive offer from you.
Positioning yourself for Profit works both, on the high and low end product. Start with one, research your market, test and roll it out.
If you need help with your marketing or positioning please get in contact or leave a comment below.
