• Repositioning Your Product

    Every technology company wants to be a leader in its market, more so in one that is saturated with competitors. In some cases this means redefining how you describe your product or solution so that it stands out and is better understood by the public. The challenge in this is persuading competitors, press and analysts to recognize how you fit into a well-defined, existing space.

    When redefining your product and getting people on board with your new positioning, here are some things to keep in mind.

    Find the gap: Before repositioning your solution, it’s essential to evaluate the current market and identify if there is an industry gap and if so, what’s missing. Also, ask yourself, if there is something lacking, how this new position will better serve it.

    What’s it all mean?: However you choose to describe your solution, it needs to have meaning. For example, a lot of companies are saying that they are in the “cloud”, but that doesn’t mean that they are like Salesforce.com. In the case of cloud, companies need secondary terms such as “enterprise” or “mobile” to separate them from the other players in the overall space.

    Get a piggyback ride: One of the fastest ways to have your new definition be easily understood is to ride on the coattails of a market analyst or reporter who has laid the groundwork. Look for industry experts who are already discussing emerging markets that are like the ones that you want your company to be a part of.

    Why will they care? Remember who your targets are and why should they care about what you are doing. Whatever new term you use, it needs to fall into the area of coverage of the analysts or reporters you want to reach.

    Test the terminology: It’s essential that your messaging is rock solid so no one can punch holes in it.  Try out the messaging first with analysts and influencers.  Also experiment with the new terms at industry events. But if someone questions it, be open to feedback. Your message might require some fine-tuning before you take it public.

    Back it up: Get third party support for your positioning from analysts or other key industry influencers.

    Educate the market: Discuss the evolution of the marketplace when talking to the press and industry influencers. Clearly illustrate the current space, what’s missing, and why there is a need for the new position. This can include one-one-one interviews with the press explaining the new positioning, issuing white papers, and participating in analyst reports.

    Michelle Sieling is an Account Manager for Vantage Communications, a PR firm built around clients’ needs and committed to their bottom line results.

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