Market Positioning for Companies
Businesses that are looking to position themselves in the market and even establish themselves in front of the target audience have a few different strategies they can use to achieve those goals. Strategies like showing the company’s expertise or broadcasting social proof are both great ways for companies to position themselves in the market.
Expertise
Most business owners got into the business of owning a company because they tend to have quite a bit of knowledge about their niche or the overall industry. This knowledge can be used to the advantage of the company by sharing the experience and expertise of the company or its owner through various types of efforts, such as webinars, blog posts, interviews, guest speaking events, and any other form of expertise sharing. This strategy can help companies stand out from their competitors, position themselves as industry experts, and even present themselves and their solutions in front of a number of different audiences that might be interested in the company or its products. It’s important to remember that presenting a company as an industry expert doesn’t always mean that the company needs to have all of the latest figures and trends available to anyone that might need them at a moment’s notice. That’s why it’s important for companies to start investing in creating a team of experts that are going to help the company get to that position by leading the focus groups, carrying out research, and helping position the company in other ways that will help in more effectively marketing its products across every communication channel.
Reviews
Most customers these days tend to look at reviews from other customers before they make any sort of purchasing decision. In fact, nearly 90% of people tend to place a lot of trust in digital reviews, almost as much as they do in recommendations they get from the people they know such as friends or family. Additionally, most consumers tend to read around a dozen reviews before they have formed an opinion about the company or the product they were looking to purchase, and positive reviews tend to make consumers trust companies, a lot more compared to negative ones. All of this information means that if a company is looking for different ways to increase its sales, one of the best ways to do that is through social proof that comes from other customers that have already purchased something from the company and shared their experiences with it. There are plenty of different platforms and even apps that companies can use to motivate customers to leave their reviews and even award them with something, like a discount code for leaving the review to motivate them more in the future. The more positive reviews a company or a solution receives, the more likely it is that the customers are going to develop a stronger and more trusting relationship with that business and make a purchase a lot faster. However, it’s important to remember the company should never ignore the negative reviews that they receive and look for ways to mitigate the situation and turn the unhappy customer into a happy one once again, to ensure that the situation doesn’t develop any further.
