How do I align my goals and address my target market? Many of the small and medium companies we work with come to us full of ideas regarding how to grow their business or launch a new product. Their passion is commendable; however, their ideas are scattered and often do not all support their strategic direction. After performing a strategic assessment and a market analysis of the company’s current segment(s), we are able to help a company define their market positioning, aligning their goals, advantages and values.
For instance, one of our more recent clients, a book publishing company, created an app for books in partnership with another company. With a love for creating entertaining products, our client wished to seed a new market as an app developer. In partnership with the other company, our client’s objective was to create digital content to appear in their published books. At the time we started working with them, their concern was how to market their new product.
After examining the highly fragmented app market in North America, we realized that our client would be better off remaining as a book publisher, incorporating apps from other designers within their books rather than creating them. Therefore, instead of becoming an app developer, the company would be marketing to app developers. Unlike the very crowded app stores, our client could create a published book that would highlight the app, encouraging downloads. A key differentiator and advantage for our client is its strong and vast distribution network. Using their network of distribution channels, our client was able to target the app developing market by leveraging their printed products, maintaining their strategic goal of selling educational and entertaining content. This positioning proved very successful for our client, as they continue to facilitate working arrangements with creators of digital content.
Market positioning is an essential tool for all businesses that aligns strategic intent, the problem or need of a target market, the benefit provided by the company as well as the core differentiators relative to alternative or competitive solutions. Positioning allows a company to focus its passion and get into the mindset of a target customer. Once created, the position statement should be evaluated often and used to guide all market-facing activities.
At Kingsford Consulting, we have over 17 years of experience working with clients to create and evaluate accurate market positioning. We would be happy to help you align your goals and address your target market.