Original subtitles

session 6 and in this session

we are talking about positioning

specifically about expert positioning secrets

what are some of the secrets you must know

in order to be positioned in that way

so I will be going more into detail

on how to position yourself as the go to authority

in your industry

quick reminder about the actions from the last session

complete them

MDP Matrix for your ideal client

crystallize the hot button for your ideal client

remember to draft up some MDPs

and also to refine further

if you're confused with any of these things

make sure make sure

make sure you go and watch session No. 5

to make sure you have that clarity

and do the home actions

everything as you know

builds on top of each other

add all of this information to your dashboard

under the MDP tab

so that any homework only home actions you have

put it into your dashboard area under the specific tab

so everything is in one place

so you can be focused

and also complete the Sales Activity Dashboard daily

on a daily basis

so let's get straight into it

so we're talking about positioning

now in order positioning fits into this arena

here we have something called the product market fit

and if these three things are in place

the beauty of it is

people will then buy from you quickly

clients talk to each other

and they refer to you and refer clients to you

it creates a lot more value

as well as you get repeat orders consistently

so these three things must be in place

the product or the service that you are offering

your positioning in the marketplace

and a positioning of that product or service

and also the right price

I'm going to go into more detail in these three areas

the products

obviously you have your products or your service

you know that better than I do

but I'm gonna

so as we go through these client attraction

system programs

you'll get more clarity on your product

but I'm going to spend

quite a bit of time on positioning and price right now

so

let's talk about the product

essentially

one thing to know is as you refine your product

ask yourself

what is your offer

what is the solution

remember in the early sessions we talked about

the client has a problem that they don't want

and result they want but they don't have

so what is that result

what is that offer

what is that solution that you have for them

be clear on that and

why is it better than anyone else in the marketplace

why is it better than some of your competitors

be clear on that

part of once you've known you've done your MDP

there are other two other messages

elements we're gonna use directly from the MDP

from the market

dominating position

statement 1 is your tagline

and then later on will be in the next few sessions

will be looking at your elevator pitch

but for now

I'm gonna focus on the tagline

what is a tagline

a tagline is great for positioning

it's simply a short statement maybe 3 4

maximum 5 words

that encapsulates what the client gets

or the feeling

or it really resonates with them as to all

this is part of your brand

this is part of who you are as a company

and good taglines are memorable

they're repeatable

and people refer to them

I'll give you an example

you know large corporate companies use taglines

you see it all the time

and I also say to our clients

small business owners

to also come up with their own tagline

and as I said earlier on

it will be drawn from your market dominating position

your MDP statement

that's why I kept insisting

make sure you do all the home actions

so tell me if you recognize any of these brands

there's a brand out there that says

just do it right

most people would say yeah

we'll find out the results in a minute

or the answer

what about this one

a diamond is forever

maybe in maybe not too familiar

but there is a company

big company

that uses that tagline

finger licking good

now figured finger licking good

that tagline was probably used

considerably in the 1990s

in the 1990s

if you remember the brand

make sure you put a smile on your face

here we go snap

crackle and pop

now in the 70s and 80s

specifically for those who were brought

brought up or brought up in that

in that generation

they'll remember that tagline as well

the Ultimate Driving machine

the Ultimate Driving Machine

so let's look at the answers

just to show how powerful taglines are

and why you should encapsulate

and also you come up with your own tagline

Nike obviously

the second one is De Beers De Beers

their diamond

their diamond manufacturers

diamond creators and diamond wholesalers as well

and retailers

KFC previously known as Kentucky Fried Chicken KFC

now crackle and pop was Rice Krispies

Rice Krispies

part of the Kellogg's brand

and obviously BMW

the Ultimate Driving machine

the Ultimate Driving machine

so if you look at all these taglines

I have a conjure a feeling

provoke you in one way or another

or there's some kind

some kind of memorable thing around it

or in the case of the Ultimate Driving Machine

BMW they're also making a statement

this is the Ultimate Driving Machine

so let's move forward

let's talk about price now

a lot of our clients ask us

what is the price they should be charging

what is the price they should be charging

now it really depends on the products

or the service that you are providing

so there are four ways you can price

and I want to break those ways down to you

and you can decide which one best fits your service

one is what we call bottom line costs plus margin

in other words

if you are creating things

you're making things

you're manufacturing something

and let's say one unit to manufacture

cost you $10 to manufacture that one unit

clearly you won't sell that product for $10 will you

you would sell it with a margin

so you may say okay

I'm creating these things

it cost me $10 per unit

I'm gonna sell it at $15 per unit or $20 per unit

so in other words

it's a 50% 50% markup or 100% markup

that's the margin

okay so that you can make a profit

after you start selling it

and after all your costs and everything else

so this is cost type of pricing

using cost as a basis

the other way to price is top true value

top true value simply means that

and this is all about value

value value

the client who buys this thing from you

and it's usually a service

what is the real value

so you may sell it for $1,000

but what's the real value to them

well if they implement it

and they were able to

generate an extra sales of $10,000

or extra sales of $100,000 in six months

what's the true value to them

so you can say look

the top true value for our clients is whatever $10,000

but for you

it's only $1,000

so it becomes more attractive

or the top true value can also be

how much it's cost you

how much it's cost you in real terms

to create that service or that product

so for some coaches they have

or consultants

they have spent years

maybe a consultant or a coach has spent 20 years

has been to multiple programs and seminars

and workshops

has bought meant

multiple books

and let's say all that is to the tune of 50,000

$50,000 it's taken them to really get the information

the knowledge that they've acquired

and they pass in that knowledge to people

so what's the top true values of $50,000

yeah and they selling it for $1,000

so look at the top true value

and then decide on what you can sell it at

a top true value 50,000

yes some people do that all the time

or you say the top true value is 10,000

and sell it at 10,000

some people do that as well

the third area is the

what we call competition price

what is the competition charging

so three areas

are they charging a premium price

mid level price or low price

so let me give you an example when you think about

let's talk about car manufacturers for a moment

and I'll give you three car manufacturers

and you can decide whether they are premium

mid level price or low price

first one Rolls Royce

Rolls Royce

okay most people say it's a premium product

it's a premium car

okay so Rolls Royce

let's have a look

a mid price car

let's have a look BMW

yes they make luxury cars as well as they they

they have mid level price cars

what about a low price car

a low price car could be a Skoda

it could be a Lada

it could be maybe the lower end of the Toyota cars

so you got to decide when it comes to your particular

marketplace in your industry

what is the price that the competition is charging

so if you decide

your product or your service is only premium

only premium

then charge the premium prices

if it's mid price

then charge medium price

if it's low price

and only charge

only charge low price

if you are selling a commodity

in other words

they can pick this thing up from anywhere

and everywhere

and it's price sensitive

and so then that's when you charge a low price

and add a lot of value to them

but outside of that

for most if you're a coach

if you're a consultant

if you're a trainer

if you're a therapist

make sure you go for a mid level price

or premium price is best

and that's to your benefit

now the fourth area is to ask yourself the question

what will the market pay for this product or service

consistently

so this is about consistency so yes

maybe you can sell something a very high price one year

but you need more sales every year than just a one off

so what is the market place willing to pay

on an ongoing basis

consistent consistently

so you can decide which price strategy works for you

then the next step is to test it

review it adjust it

test it review it

and adjust it

until you settle at a price

that the market place is willing to pay consistently

and you are happy with

and you're making a good profit as well

so that pricing is also about positioning

it's also about positioning

because sometimes you price too low

premium plot clients will not pay

if your price too high

some of your ideal client may not pay

might be too much for them

so that's about positioning

let's look at Blue Ocean Strategy

which is further positioning

now I'm going to ask you as part of your home actions

to do this home work as well

do this home action

the Blue Ocean Strategy is this

imagine that

so in in the marketplace

there are many competitors

many many competitors and a blue

and we call that The Red Ocean which is

it's a book

there's a book called Blue Ocean

you can buy it

but I just want to give you a synapses

a summary of this

but instead they're fighting in the red ocean

with all the various other competitors

create a blue ocean for yourself

a blue ocean is

is the it's this niche or this

this area that you

king or queen in

and the way to do that is to really establish

what is it that

I'm going to ask you to grab a piece of paper now

and that piece of paper

I want you to draw two lines

and on one side you're going to write

what are my good at

what is my my company good at

what is my company good at

and on the other side is

what are they good at

what is the competitor good at

what are they really good at

in terms of their service that they provide

so for one company could be

they do highly experiential training

so it's a training and coaching company

highly experiential training and coaching

experiential means it's not just

you're not just reading words or watching videos

but you're actually interacting at every step

mindset accountability

so this is mind space

for example

mind space is great

at experiential training

we do boot camps

and all our programs is very interactive

the second thing is mindset and accountability

we understand how the mind works

so from a psychological point of view

if you're not moving forward

we have one on one programs

every most of our programs we talked about

we talked about mindset and the way you think

and we also give accountability

so we ask our clients to record their numbers

we hold them accountable to what it is

they said they're going to do

and what is it they are doing

coaching we're great at coaching

whether it's one on one or whether it's group coaching

we're very very good at it

as mind space coaches

we are results focused with all our clients

we want them to achieve results not just

information

but actually moving forward

results are very

very important

so that's what we are good at

amongst other things

what are our competitors good at

so some of our competitors

they have too many systems

they have systems for this

systems for this

lots of spreadsheets

and some clients get confused

they come to us okay

their price is very low

price is very low

because they get you to watch everything online

you do everything online

you can't interact with a coach

you can't interact with the company

you can't interact with anyone

you just watch it online and go

that's what they're good at

so you have to know what you're good at

and promote what you're good at

but at the same time

make it clear to your clients

what your competitors are good at

so that you're doing the work for them

they have all their programs online as I said

there's lots of information to consume

and sometimes

you haven't got that information to consume

you haven't got the time to consume that information

and they provide consulting

rather than coaching

consulting means that they sometimes

they'll come in

they'll do the work for you

so by that difficulty

the problem with that is

your team don't know what they've done

and may get lost later on

that you'll always rely on them

whereas coaching

which we do

is getting you to grow into your business

grow as a leader

grow as a entrepreneur

grow as a business owner

so you can start driving your business forward

so there's no right or wrong

but do clearly do this exercise

and establish what you are good at

what your company is good at

and also be clear in the marketplace

and just check out some of your competitors

what are they good at

and in conversation with the clients

when you are marketing or when you're going to sell

you can point out both

and so at least the client knows where they stand

and they can make an informed decision

about their future

and where they're going and who they want to work with

so let's further look at positioning bit more

so there there are several

positioning pieces that you should look at adopting

and bringing into your business

one we call authority content

what is authority content

this is simply content that positions you obviously

as the expert or as the authority

for example books

Cds software

regular posts on social media

whether that's LinkedIn or Facebook

or Instagram or Twitter

writing articles

writing blogs

creating videos

authority content is something you should

all business owners should be doing

because in this day and age

authority content is what people are consuming

and they're making a decision

whether to buy from you or not

take YouTube

taking Google

the more content you have out there

the more possibility of someone finding you

and contacting you

use a professional platform

so there's nothing worse than saying yes

I'm going to use social media

but on your Facebook

it talks about you in one realm

and LinkedIn talks about you in a different way

Instagram it's all about something else

there needs to be consistency

a professional platform also refers to your website

what does your website look like

when people type your name into Google

what do they see

so you must come across professional

especially if people don't know you

when they want to do business with you in the long run

your MDP is a great positioning tool

when you say this out

or you use it in your advertising or your marketing

remember it's got the hot button built in

so positions you different from anybody else

so make sure you are using

the market dominating position in one way or another

especially the hot button

your tagline

which we just talked about now

which you're going to derive from your MDP

make it short

so we're talking about 3 four words

possibly five maximum

and use that tag line at the bottom of your email

as your email footer

use it in your advertising if you need to

use it in your social media

very very important elevator pitch

you know when someone asks you

what do you do

what do you say so

you must refine and constantly use your elevator pitch

rather than saying

oh I'm a coach or I'm a consultant or I'm this or that

use your full elevator pitch

we will be covering it in another session later on

and also Social Proof is great for positioning

what is Social proof

Social Proof means

any kind of success stories that you have

you can utilize

testimonials

case studies

any kind of credibility

any kind of awards

that show that you are good at what you do

and a product is excellent

the service is great

social proof simply means that other people are saying

you are good at what you do

not you directly

so whether it's a testimonial or case study

or whether it's a success story

or an award that you've received

or some kind of recognition

it's a third party

thing social proof

which then in the eyes of the prospect or the client

it's great it's very

very powerful

so here's your actions for this particular session

create your tagline

also do your blue ocean strategy

decide on what authority content you could create

if you're not sure

listen to this session again

but the authority content

what authority content could you create

that you can use consistently and do consistently

to position yourself as the authority or the expert

duty at Blue Ocean Strategy exercise

I said earlier on

and start to collate social proof

in other words

case studies

success stories

testimonials that can position you as the authority

add all of this information to your dashboard under the

relevant tab

whether it's MDP tab or any of the other tabs

make sure you do it

and complete the sales activity part of your dashboard

in other words

how many leads did you get

how many calls did you make

how many conversations you had

and etc etc etc

put all those numbers in every single day

in order for you to know that you are on track