It was an innovative concept with great potential, but didn’t pan out as expected. You’ve learned where the true opportunity is, and it’s time to pivot. Fast.
Good luck. You have a lot to do!
While talking to a marketing company at a time like this may be the furthest thing from your mind, the concept is not as crazy as you think.
Sure, a marketing company can’t help you re-engineer your product, but maybe (if you’re lucky), your product doesn’t need re-engineering. Maybe all it needs is repositioning.
So, before you go and make sweeping (and expensive) changes, take a moment to look at the situation in a new light.
Repositioning requires looking at your company’s products from different angles and trying to understand all of your prospective customers’ motivations: their pain points and most pressing needs.
Then see if by “positioning” your product in a different way, you can meet some of those needs.
For instance, let’s say a competitor has just come out with a technology that solves the same problem you do, and they do it better. One possible solution: look at an industry where the requirements are less stringent, and portray yourself as an advanced solution. Another: play on the desire to avoid risk by positioning your solution as the one that’s proven. Another: offer your product as a less expensive alternative. Yet another: sell it at Toys-R-Us as a tech novelty (just kidding).
As you can see, repositioning takes different forms and can solve many problems. The main thing to keep in mind as you analyze various options is this: Stay flexible.
Case study: SenesTech
SenesTech offers a non-lethal solution to pest control: Instead of killing animals, they sterilize them. Originally, it was to be sold as a solution to all species of mammals considered to be pests. Animals like deer, wild pigs, gophers, porcupines, feral cats and stray dogs. However, the results of various studies dictated a shift in focus to the number one pest worldwide: Rats. The website we created reflected the new positioning.
By Farida Fotouhi