| OK, once you are convinced you need to wave your | | | | already positioned. Remember in an earlier article the |
| Brand Banner, the next step is to determine where in | | | | analogy of Brand as a sailboat on a lake. |
| the mind of the customer you are positioned relative to | | | | This is one time you'll want to use your employees to |
| your competition. Remember, it's the combination of | | | | help you discover creative and unique ideas. Involve |
| Brand, Package and People marketing elements that | | | | those Achievers in a creative planning session. Solitude |
| lead to small business marketing success. But a strong | | | | can and will bring you insight, but you need the eyes |
| Brand is the foundation. | | | | and especially ears of your best staff. Achievers listen |
| First, let's look at the competition. You know your | | | | to customers; your current customers will often make |
| competitors...probably better than you think you do. | | | | a little, off-hand comment that can clue you in to |
| Make yourself a very small chart. You can make it as | | | | exactly where you are positioned, relative to your |
| a table in Microsoft Word, or in Excel. You can even | | | | competition. |
| rough it out on a piece of notebook paper. Make four | | | | Note that we aren't trying to establish "features and |
| columns, with the following column headings: | | | | benefits" here. This exercise isn't designed to be a |
| - Competitor | | | | training course for your salespeople on how to answer |
| - Estimated Market Share | | | | specific objections. That may be a secondary benefit |
| - #1 Reason People Buy from Them | | | | you gain from this exercise, but it isn't our main |
| - #2 Reason People Buy from Them | | | | purpose. |
| Underneath the column headings, list your top three | | | | Instead, we are trying to help plant your Brand Banner |
| competitors, and briefly fill in the relevant information in | | | | in the mind of your prospects. It's very tough to go |
| the column headings for each competitor. | | | | head-to-head with any of your competition; it is so |
| We recommend that you do not go out to your | | | | easy to end up as a "middle-of-the-pack" brand in the |
| customers with a survey to gather this information. | | | | mind of your prospects. And, when you are herded |
| You might ask a few key Achievers for help if you're | | | | into the middle of the pack you are much more |
| stuck, but most small business owners know their | | | | vulnerable to price attacks and other competitive |
| competition well enough to fill in this simple table in their | | | | moves by your competitors. It is much better to pick a |
| sleep. | | | | weakness in several competitors' armor, and find a |
| Second, let's look at the invisible competition. If a | | | | strength you can use to exploit against their weakness. |
| customer doesn't choose you or the competition, then | | | | You can then build your marketing around this and |
| where does that customer go? Where does she | | | | differentiate yourself from your competition. It is just |
| spend her money? For example, restaurants' | | | | this technique that is strongly advocated in the |
| competitors often aren't each other, but "Dinner and a | | | | marketing classic by Ries and Trout, Positioning. |
| DVD" at home. Your visible competitors are usually | | | | For example: let's say you know from earlier research |
| easy to find: you just go to the yellow pages, and | | | | into your customer base that your customers perceive |
| there they are. But it's those substitute products or | | | | you as a quality, on-time provider. You can use these |
| services that we want you to take notice of, right now. | | | | brand attributes to fight against a competitor that solely |
| Write down your two top invisible competitors | | | | markets itself as a price leader. Don't try and go head |
| underneath the little competitor analysis table. | | | | to head on price unless you are seriously ready to cut |
| Third, let's uncover where your company is positioned | | | | your margins and are ready for a war fought down in |
| in the mind of your customers or prospects, right now. | | | | the attrition trenches. It is better to stress what sets |
| Are you in the middle of that pack of competitors, or | | | | you apart from the competition and use your |
| do you fill a really unique spot? Just jot down one or | | | | promotions to emphasize that over and over to your |
| two sentences comparing your position in relation to | | | | customers and prospects. |
| your visible and invisible competition. | | | | Building a brand is not an overnight job. For most small |
| So you've written down three different categories | | | | business, the brand is already built--there is a customer |
| relating to your customers: your top three competitors, | | | | base that chooses to buy from your company already. |
| your invisible competition, and your company. | | | | The job isn't so much to build a brand but build on the |
| Fourth, it's time to Brainstorm just how you can | | | | brand; discovering where you are positioned relative to |
| improve your marketing message to take advantage | | | | actual and invisible competitors is a critical first step in |
| of your current position. You will want to clearly appeal | | | | the process. |
| to your customers, but stay in line with where you are | | | | |