Is your positioning statement still valid?

The average lifespan of an organization’s market positioning statement is five years. And today’s marketing environment is changing faster than ever before. If your current positioning suffers from any of the five criteria identified below, it’s time to consider updating or replacing it.

You are no longer differentiated from your competition.

It's a dog-eat-dog world out there, and advancements in technology and increased job-hopping of professionals has made it easier than ever for your competition to catch up. If you haven't done a competitive assessment lately, grab a couple of your sales reps and take some time to do at least an anecdotal review of your company versus the competition. If you find your competitive points of differentiation to be weak or non-existent, it’s time to take another look at your offering and how you’re positioning yourself.

The needs of your target audience have changed.

While your target audience remains the same, what they need and expect from the companies they work with may have changed dramatically. Not sure if this is the case for your target audience? Start with some small qualitative research and persona building. It should help identify and validate your audience, their needs and how you (and your competition) are perceived at meeting them. Review those needs against your positioning and benefit—if they’re out of alignment, it may be time for a new positioning statement.

Your products and services have changed significantly.

Strong companies continue to evolve, as do their products. Further complicating matters, many traditional industrial and manufacturing companies are shifting from being a simple product supplier to more of a full-service provider. If either is the case for your business, it is probably time to review your positioning statement—especially as it relates to your customer benefits.

Your industry has experienced a disruptive event.

After the economic downturn of 2008, many of our clients recognized the relevance of their market positioning weakened significantly. If the economic environment and forecast has changed for your industry in the past two or three years, it may be time to re-examine how your market position relates to the needs of the overall market.

Your target market has changed.

Companies are living organisms that change and evolve as the markets shift. Add in the continuous shifts we've seen in technology and you may start to realize your target market (or maybe just your "sweet spot" is no longer large enough to sustain the MROI you need to demonstrate. A significant change in the prioritization of any target market segment can be a red alert for an outdated positioning, and it’s most likely time to review.

So, you answered "yes" or "hmmm" to at least one or two of the questions—now what?

Magnani offers full service integrated marketing strategy and planning and can help you better identify your target market, develop profiles and personas, execute small scale and large scale competitive audits and assessments or just help you evaluate your existing positioning statement and determine if it's time for an update.

Since 1985, Magnani Continuum Marketing has made it easier for organizations selling in highly technical and complex markets to deliver the most effective and seamless traditional and digital brand experiences.

We offer full service integrated marketing strategy and planning and can help you better identify your target market, develop profiles and personas, execute small scale and large scale competitive audits and assessments or just help you evaluate your existing positioning statement and determine if it's time for an update.We’re more digital than advertising agencies. More strategic than digital marketing shops. More creative than management consultants. And a heck of a lot easier to work with than almost all of them. We’ve helped some of the largest corporations in the world, and some of the most exciting new startups. And we’d love to talk with you.

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