Marketing and Business Labeling
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article on Marketing and Business Labeling.
The truth? Chances are you've been labeled - and if it hasn't
happened yet, it will!
Knowing this, you'd be smart to make sure that the label you
acquire is one you want and, as it relates to business, one that's
easily marketed --- and can make you money.
Let me explain what I'm talking about.
A very good friend of mine and his business partner can take the life out of an attacker before most people can snap their
fingers. They started a company based on this ability and developed a unique (and very effective method) to teach people
how to protect themselves. I mean REALLY protect themselves!
After talking with them at length last week, it didn't take long to see that this company has the right attitude (they truly want to help people), the right products and a huge potential market
-- I think they can succeed in a very BIG way.
But... While they and their staff of "personal protection experts" have
little to worry about when it comes to being personally accosted by society's criminal element, the company hasn't
protected itself from a different type of enemy:
The fact is, until I spoke with them, the owners hadn't calculated
their competitors into their marketing equation.
You see, based on the uniqueness of their product, their niche
target market, and the incredible results they deliver to their clients, they weren't too concerned.
I caught them off guard.
Well, whether you pay attention to them or not, you have competitors (all businesses do). And even if you think
you're without competition, the point is...
Your customers and prospects have placed you in a category and compare you to others who THEY consider to be your
competitors. That's right, correctly or incorrectly, you've been labeled. And because marketing is about winning customers, it's very important to know who and what you're competing against. They didn't think they had any competition because their
product is unique - it's not Karate, Judo, Tae Kwan Do or any other number of self-defense systems that take years to
master (there are thousands of companies offering these products). So, they thought they were safe.
"Sorry," I told them. It doesn't matter."
Because even if their product is not those things, their prospects will automatically place them in the same category.
Unless... They take the time to position themselves differently or in an entirely new category or to an untapped market. If they don't, their stuck with having to compete within a saturated marketplace. Which means their product will be harder to sell. And, the bottom line, they'll make less money.
What's the solution, you ask?
Figure out what category (or categories) your prospects have
put you in, i.e., what's your "label"?
If it's not where you want to be, come up with a way to re-position
yourself in a new (or less saturated) category. Invent one if you
have to. By doing so, you'll stand out from the competition and
capture your prospects' hard-to-get attention.
Once you have that, you're marketing efforts will have a much bigger impact and, ultimately, be a lot more profitable!
Business and Marketing Labeling:
- Organic Marketing and Labeling; Direct Marketing Options
Marketing, Business & Risk Management