First Step Toward Market Dominance: What Will You Own? Here are the Criteria.

71264476This is your first step toward Market Dominance: Figure out what you want to “own.”
Here are criteria you want to apply when trying to determine what you will offer to the market place and and what you want to mean. Consider these for the ideal strategy-driven offering, positioning, messaging. These put you on a path toward sustainable differentiation. (from the Apollo Method for Market Dominance™)
1. Pick a Big Problem with Particular Characteristics: 
  • A really tough, very clear, common, critical, urgent business problem a lot of people easily relate to and are highly motivated to solve
  • Easy to capture in a sentence
  • It should be a nut no one seems to be able to crack
  • Requires deep expertise
  • A problem you want to take intellectual ownership of and be uniquely associated with in the market place
  • The more specific the better (narrow does not mean small)
  • Could be an opportunity instead of a problem – note, however, that companies more readily spend money to solve urgent problems
  • The lower on Maslow’s Hierarchy of Needs it sits, the more urgent it is

2. Develop a Point of View (POV) with Particular Characteristics: 

  • A clear, unique point of view on why there is a problem and specifically what companies need to do in order to solve the problem
  • The “why” above is important – not just that there is a problem, but the implications – why it is such a problem and the pressing imperative to address it
  • The “what” above should sound hard to do, be something no one else can currently provide, and be a set-up for your solution
  • POV should be provocative; ideally, it’s counterintuitive – this is what will attract attention, arouse curiosity
  • Easy to capture in a sentence
  • So compelling that it makes your target audience people want it right away. The more specific the better

3. Develop a Solution with Particular Characteristics: 

  • A unique, tangible approach to solving the problem that leads directly to a highly-valued business result/outcome
  • It provides business outcome people feel a sense of urgency to achieve
  • Easy to capture in a sentence
  • The more you can productize it, the better (name it, includes IP now or on the drawing board, methodology, etc.)
  • It should be repeatable, with a cost of delivery that goes down as adoption and sales volume go up
  • Assume others are going to jump into the fray and therefore position out ahead of them
  • The more specific, the better
Couple of points:
  • Urgency = margins – buyers are less or not at all price sensitive when in a hurry to realize a critical result
  • Specific does not mean small – you want a beachhead – the more specific it is, the easier it will be to be distinctive, to get attention, to be given platforms to talk about it in the marketplace, to stand out and be noticeable
  • Note to service providers: If you talk about what you do as a laundry list of generic services, you are delivering a capabilities- based message. A “capability” is not a solution. When you have a capabilities-based message, you are on a path to commoditization. For sustainable differentiation and go-to status, decide what specific business result you are going to deliver and how you’ll do that in a repeatable way.

 

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