Positioning involves applying a systematic, repeatable process to identify the unique attributes of my service, differentiate it from competitors, and articulate this positioning into an effective sales pitch. In this post, I aim to create a differentiated value proposition based on my service's unique features and capabilities.
A positioning challenge arises when some clients view me as a technology consultant while others see me as a software developer. Competing in both categories against fully staffed software vendors, I find myself without a clear positioning strategy. With a saturated market of technology consultants, even the best ones struggle to secure projects. Clients often wonder why they should choose my consultancy over the alternatives. Effective product positioning can help me stand out and capture the unique value of my service in a crowded market.
My ideal customers are those who already intuitively understand the value of my services. Specifically, CEOs and founders of growth-stage fintech startups who have a strong technical background. These individuals prioritize team expansion and product scaling, and they seek solutions to their technical challenges.
From my target customers' perspective, there are several alternatives they might consider before opting for my service:
Alternative 1: Outsourcing to consulting firms
Alternative 2: Searching online for technical answers
- Stack Overflow
Alternative 3: Hiring in-house roles
- Software Developer
- Business Analyst
Alternative 4: Self-learning through videos
- YouTube tutorials
- Udemy courses
- Online coding bootcamps
My service offers unique attributes that set it apart from at least one of these alternatives:
- Blog content
- Technical expertise
- Knowledge sharing
- Product management skills
- Personal stories
- Video content
- Best practices
- Business acumen
To identify the most compelling aspects of my service, I repeatedly ask the question "So what?" until I arrive at a value proposition that is clearly differentiated and directly beneficial to customers. Through this exercise, I've identified the following differentiated values:
Differentiated Value 1: CEOs are avid readers, often relying on recommended blogs. My blog offers:
- 1.1 Blog Content: Condensed into an Amazon Kindle book for easy reading.
- 1.2 Product Management Skills: Proven experience in product development.
- 1.3 Technical Expertise: Hands-on software development capabilities.
- 1.4 Business Acumen: Skills in stakeholder management, leadership, and communication.
Differentiated Value 2: My blog serves as an effective lead generation tool for my consultancy, particularly offering:
- 2.1 Best Practices: Expertise in the banking industry.
- 2.2 Knowledge Sharing: Insights into deploying new technical products in financial markets.
Differentiated Value 3: Clients can gauge my approach to business and technology before engaging my services, made possible through:
- 3.1 Personal Stories: Revealing my experience in technology consulting in the banking industry.
- 3.2 Video Content: Storytelling with humor.
With these differentiated values in mind, my blog aligns well with a framework that includes:
- A. Competitive Alternatives: DIY approaches.
- B. Unique Attributes: Concise, valuable blog posts.
- C. Differentiated Value: Expertise and thought leadership.
- D. Best-Fit Customers: CEOs of Series A and Series B fintech startups.
- E. Market Category: Technology consultancy for financial companies.
As for the next steps, I plan to:
By April 2022
- Update the landing page messages on my website.
- Add more case studies.
- Conduct interviews with top-five clients to refine messaging.
By May 2022
- Create a sales pitch focused on technology consultancy.
- Respond to Requests for Proposals (RFPs).
- Add more technology and business content to my blog for brand awareness.
In summary, I am repositioning as a specialized technology consultant for financial companies. Leveraging a proven agile methodology, I aim to help such companies architect and develop software solutions that improve their business performance. My services range from software development for startups to consulting for larger tech companies and custom product management. To find out more, please visit https://victorleungtw.com/.
Feel free to reach out to discuss how I can assist your team in both business and technology.