position a product

How can I position a product in the marketplace for success?

How can I position a product in the marketplace for success?

A destressed Fintech Leader asked me this question recently:

“How can I position a product in the marketplace for success?”

One of the most important purposes (but not the only purpose) of positioning is to make your unknown product seem familiar to your audience.

Let’s say you are an unknown horror fiction writer, Joe Castle. You want to sell your first book, but no one knows you and therefore has no idea if they’ll like your book or style.

Your positioning statement could read: “Joe Castle is the next Stephen King, but even scarier.” Now your audience knows who Joe Castle is and what his writing is like.

Do you remember the Apple computer TV ads years ago, where a cool looking young guy named Mac would talk to a fuddy duddy dude named PC? Mac would be sailing along problem free while PC always had a problem, having a virus, or freezing, or something else.

Apple positioned their computers as being cool and hip and trouble free against PC, who was square and always having problems. Great positioning.

The question to ask yourself is: What can you position your product with, or against, to cast it in the best light? This is especially important if you have a new and innovative product or service in the fintech market.

You want to create instant familiarity for your product.

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I help businesses grow and achieve more profits. I work with a network of founders and investors.  Need help with your fintech business? Give me a call, let’s chat.