Why do so many Business Intelligence (BI) software companies use “insights” as their position? Of the 19 BI companies evaluated in this 4th annual assessment, more than half (11) position around the notion of “insights.”
Even the most obvious position is effective when it is executed consistently and repetitively in all marketing communications. It should be the theme for everything you do in marketing. Yet a compelling position stated once or twice on your website doesn’t move the needle in your effort to claim a position.
If you need to be convinced that differentiation is critical to effective marketing, or you’re convinced but don’t know how to do it, read on.
The claim you make in your positioning statement needs to be substantiated otherwise it is a meaningless claim. Of course a claim that has no basis in fact is impossible to prove, as evidenced by three vendors who sell financial reporting and consolidations software, a market Gartner now calls “Cloud Financial Corporate Performance Management Solutions.”
Many Business Intelligence (BI) software marketers would be well served to read “Positioning: The Battle for Your Mind.” Most are doing exactly what Ries and Trout identified as a problem way back in 1981 when the book was first published:
Once you have found the ideal positioning for your company or offering, you should stick with it for an extended period – at least 18 months and the longer the better – several years; perhaps forever. That’s because consistency and repetition are the keys to claiming a position in your market and giving it staying power.
Based on the results from the survey I’m conducting, B2B software and technology marketers desperately need a realistic way to self-assess their positioning effectiveness. That’s because 69% of respondents (137) think they are doing a good job of positioning, but the evidence suggests many are kidding themselves.
Seventy percent of the respondents to the survey I am conducting say positioning is the most important aspect of marketing, yet only seven out of 132 respondents learned how to do positioning in college. It makes me wonder whether college marketing departments are in touch with the real world.
You need a strong foundation to effectively market your B2B software or technology product. That foundation is your message strategy. Everything you do in marketing should be built upon it.
I don’t think B2B technology marketers have any idea what a true transformation is. Transformation means to change from one form to another. Caitlyn Jenner is a good example of a transformation. With Caitlyn in mind, how many businesses turn into something totally different? One in one hundred, maybe. And how many B2B software companies are truly changing the way their customers do business? None.
I make a living helping B2B software companies position effectively, but I recently sent an e-mail to a prospect telling him to hire a good writer rather than me. While the prospect’s position wasn’t very compelling, the writing was terrible. The prospect needed a quick fix, not a several month positioning project. I felt a good writer would give the prospect time to do positioning right.
In less than a year, eight vendors in the Business Intelligence (BI) market have changed their position, and only Qlik and Panorama took steps in the right direction. Everyone else including SAP, IBM, MicroStrategy, Microsoft and SAS back peddled in their effort to claim a position in the BI market.
I often tell my B2B clients that they need to prove any claim they make. That’s partially because I’m a journalist by trade, and believe it or not, journalists don’t last long if they write stories that lack the facts.
Why is it that consistency and repetition are so critical in your effort to claim a position in your market?
Lack of consensus about the marketing message is one of the most common problems I’ve experienced in my B2B software career. The best way to overcome this problem is to adopt a positioning process that seeks input and feedback throughout the organization, and includes executive management approval of your positioning strategies.
Why do B2B technology and software marketers use buzzwords when they are of questionable value and contribute to “me too” messaging? I am conducting a survey about how companies do positioning, and the answers to this question shed light on why the use of buzzwords is so prevalent:
One way to insure that members of the management team use your positioning strategies is to seek their formal approval for each one. Members of the management team communicate regularly with important market influencers, including financial analysts, industry analysts and media, all of whom need to hear the same coherent message – a concise, compelling reason for why they should invest, recommend or write about your company, its products and services.
It will be time to buy Microsoft stock when it eliminates “empower” from its corporate vocabulary.
This is a sensitive subject. It involves taking an unflinching look at the inner you, and committing yourself to a quest for the truth. No, I’m not talking about the latest fad in philosophy or munching magic mushrooms. My subject is developing your product’s positioning strategy – and the potential negative impact preconceived notions, biases and egos can have on it.
Positioning shouldn’t be left to chance. But unless you do your research – I call it the 3Cs of successful positioning – your message to the market has almost no chance of hitting the mark. In this blog, originally written for MarketingProfs’ daily newsletter, I explain why you need to know the 3Cs – your customer, channel and competition – as well as you know your B2B product, service, solution or company.