Developing a focused and clear market position for your professional firm is a tricky subject. It's become somewhat of an obsession of mine after seeing multiple professional service teams struggle to get traction with their sales and marketing.
The results of a tight focus in your business are simply astounding. Some common side effects of a well-defined position include:
- Better traction and ROI from your marketing.
- Speeding up your sales cycle.
- Unlocking the path to premium fees
- Attracting your ideal clients.
I became determined to find a way to help service firms create and test a solid marketing position to help them grow. As part of that journey, I recently attended an event in Nashville, TN with 50 other marketing experts on the topic of how to position your marketing agencies to create premium pricing and expert status.
Here are 5 top takeaways from the event:
- Positioning your firm cannot be a secret. The impact of your position decision requires it to be stated upfront and boldly in your materials and website. Clients and prospects need to know you aren't 'making it up' and changing how you present your focus just to win the deal.
- Competition is a good thing! It's a sign of life that your target market has potential. If you have too few of competitors in your space (less than 10-200) it's a sign the market simply does not value spending REAL MONEY on your type of expertise. Don't focus on a market that isn't ready to spend to solve their problems.
- Don't waste your energy trying to invite something 'new'. Stop thinking you are the exception or a unicorn. There's little money in professional services that no one has heard of.
- Focus on delivering valuable expertise focused on solving a common problem. Combine the problem you solve with your unique perspective. Stop trying to reinvent a category.
- You are not in the "customer service" business. Pick a specific problem to solve. One that you can become an expert at and can REALLY solve deeply. From that moment, you don't have to focus all your energy over-delivering on 'great customer service' in a highly competitive market. Clients are buying your point of view and your results, not your customer service. Focus on delivering results first, customer service second.