ENT645 Wk3 – Positioning Grid

Positioning Solv360 against other consulting firms identified four types of competition categories. These categories allowed my review to understand consulting firms that are more supportive or “in addition to” business consulting and those that more closely align in services.  The two axis for the positioning are Price and Services.  While having more services can be a benefit for businesses seeking one-stop-shop consulting, it can also give the impression of not being focused.  This positioning helped to understand the different types of business consulting competing for visibility.

Positioning Grid

Positioning Grid Screencast: http://youtu.be/22CINQhLWFc?hd=1

Four Consulting Categories Considered and Solv360:

  • Legal, Tax and Capital Firms
    • Not competition for Solv360
    • Legal Services
    • Business Services
    • Tax Services
  • PR and Marketing Firms
    • Some competition for Solv360
    • Public Relations
    • Marketing
    • Analytics
  • Talent Firms
    • Some competition for Solv360
    • Hiring Talent
    • Employee Management
  • General Business Firms
    • Direct competition with Solv360
    • Business Strategy
    • Business Structure, Processes, Sales, Marketing and Operations
  • Solv360:
    • Business Strategy
    • Business structure, processes and innovation

Analysis:

In discussing consulting with various business professionals, there was a consistent theme to their challenges and concerns.  Often, consulting firms are not open with pricing as they prefer to understand the opportunity and provide costs based on anticipated work. Also, consulting firms often list a large number of services they offer, but cannot provide consistent quality and capabilities across all of them. 

In speaking with the consulting firms, they are challenged with businesses asking for them to cover ‘additional services’ so they need not engage other firms. This creates pressure to satisfy the customer requests and build in new cost structures to support the additional services. Most acknowledge that they ‘can’ do certain services and promote them to cover costs, but do not feel they are core to their success.

The goal of Solv360 is to focus on business performance as it relates to Sales, Marketing and Innovation. Legal, Tax, Human Resources, etc. would be handled by different companies. The focus of Solv360 is to look at the strategy, products, services and execution of a business.  This limits the number of services offered compared with other consulting firms reviewed, but allows for lower costs and increased focus.

I am offering quality services that are not available with other local art businesses. Customers are buying the experience and opportunity to create a unique work representative of each individual.

This analysis has provided increased insight into the hour rates and cost structures for consulting firms.  It also allowed insight into the ways that consulting firms engage and speak to potential clients. Some of the research observed consulting firms that are themselves small businesses and how they position themselves.

This activity is the beginning of the work to position Solv360. Now that the categories have been defined, a deeper positioning will be created to compare with a larger number of similar consulting firms in different markets. Due to the overlap in service offerings, it was important to establish the categories first, which include the businesses similar to Solv360, to define the opportunity. The deeper dive into competition will bring clarity to the unique/specialized offering.

Points of Contact:

While not created yet, Solv360 will have:

  • Website, Webcasts, Blogs
  • Social Media Pages (LinkedIn, Instagram, Twitter)
  • Networking Events and Business Conferences
  • Sponsorships (Charity sporting events)

Marketing Materials:

While not created yet, Solv360 will have:

  • Business cards and brochures
  • Office supplies (Pens and other tchotchke items)
  • Clothing (shirts, jackets, hats)