What is a Marketplace Position and Why is it Important to Authors?

0
201

What is a Marketplace Position and Why is it Important to Authors?

Your ‘position statement’ will help to provide clarity and direction for where you stand in your niche market and how you are to be known. Your customers, readers and target market will identify you and your brand with what your position states. Your position can become a powerful marketing tool as your customers will identify with you for the specific feature, benefit, or solution that you provide that your competition doesn’t.

As an author, your platform, your brand and the way people view you is of utmost importance in establishing yourself as the ‘Go-to person’ for your field of expertise.

Examples:

  • Richard Attenborough is known as the voice for wildlife documentaries.
  • Volvo cars are known for safety.
  • Starbucks = Coffee
  • Kleenex = Facial tissue
  • IKEA’s market positioning statement is; ‘Your partner in better living. We do our part, you do yours. Together we save money.’
  • IBM is known as the leader in computers for business people.
  • Mills and Boon are known for romantic books.

A compelling position will help you both within your niche topic and also as an author.

What Makes a Great Position Statement?

  • It is unique.
  • It is believable.
  • Don’t oversell or create an image that is too unrealistic (eg. World’s Best Non-Fiction Author).
  • Is durable and is not dated so it can last a lifetime.
  • It is focused and not too broad.

Steps to a Winning Positioning and Positioning Statement:

  1. Review your goals and areas of expertise so that your position brings these to life.
  2. Do your research into identifying your target audience so you know who your customer is.
  3. List the needs of your customers or readers.

What Do You Do That is Unique Compared to the Competition? If you have trouble answering this question then this could also how your target audience see you. If they see that you do not offer anything unique then why change risk reading the eBook of an unknown author?

Identify the most compelling reason for customers to do business with you. Why should they buy an eBook from an unknown self-published author? Why should they spend money on you when your eBook does not have any reviews? Why would they buy your eBook over an eBook listed on a recommended list? You must provide the reader with a compelling reason why they should buy your eBook.

Once you have gathered all of the required information now is the time to identify your unique, memorable and distinctive positioning.