How To Determine Your Product Position
Written by Josh Hines • August 28, 2024 • 2 Minute Read
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Brand positioning can be defined as the space a company owns, in the mind of its customers, and how it differentiates itself from the competition. Simply put, this statement is the who, when, where, why, and how of your brand's identity.
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Branding & Positioning Your SaaS Platform
When it comes to branding and positioning your SaaS platform in the market, this process can either make or break you.
What most founders think when they go into business is there is this unlimited market that if they just create something equivalent, they'll be able to compete and take enough market share to coexist.
The reality, if you ever look at any industry, there are already a number of organizations in a given space, and when people decide they need something you want to serve, there are already going to be brands that come to mind.
The Hard Way To Disrupt A Market
While you could get investors to give you enough cash to disrupt this mindset, it might be easier to go about positioning your brand in an entirely different way.
The Better Way To Tap Into A Market
Instead of focusing on feature sets, that most of your competitors already offer, focus on the bigger picture value and displace the competition with an entirely different offer rather than just solving the same problems and battling only with price, which is always a race to the bottom as you lose margin and end up extending your payback period.
Take The Next Step
Throughout this guide, I'll share the principles we follow in order to position brands in a crowded market and stand out, even if there already is a 800-pound guerilla that "owns" the space you want to compete in.
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Picking A Product Category
A product category is a way for businesses to group and organize similar products or services they sell. It helps structure product lines and makes it easier for customers to find what they're looking for, whether in a physical store or on a website.
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