Trust me when I say there is nothing fluffy, cute or pretty about marketing. All these things are intangible. Marketing is tangible. It’s about facts, figures and evidence. It’s about the truth.
Last year I wrote about value oppositions, and overlapping needs and benefits. It is important to understand your own benefits, your customers’ needs and the benefits of your competitors to find your market niche.
A few blogs ago I wrote about the Strategyzer Value Proposition Canvas. A very useful model, as is the Business Model Generation Canvas. The only element that seems to be missing is the competitive one.
I was having a chat with Mark Pemberton at The Heath in Runcorn the other day. Mark’s business, Global MSDS Ltd, won the Chemicals North West “Product Services Supplier to the Chemical Industry” Award in March this year.
You’ve probably heard of a SWOT Analysis. It’s used throughout business not just in marketing. It’s a simple 2×2 matrix that helps crystallize thoughts and prepare action plans. I feel it’s particularly useful for measuring up against a competitor, especially when a business is looking to grow.
There will always be competition. Monopolies rarely exist. Where there is competition, you need to know and understand it. Often the best person to ask is your customer. They may know your competitor better than you would wish them to. They may even tell you all about them too, if you ask.