Even though at the time I ventured into the project I was not really aware of the theory behind positioning my business I instinctively knew I wanted to be aiming for the Rolls Royce end of the market, not the Great Wall. So that was the product part of the equation sorted out. I was going for premium product. So I invested heavily in my foundation stock, importing top bloodlines and using the best stallions I could, but even then there was a bit of a reality check because I didn't quite have the capital to really go for "Roll Royce" status. My choice became more Lexus v Toyota.
So what about price? At the time I entered the market the competition was not deep. A small number of sellers catering to a demand that could not be met, so I was able to charge a premium price (but then so was everyone else). Great so at the moment product and price are nicely aligned.
Service was the next consideration and again here I felt I was delivering the goods. Always ready to help people in their search for information, in the (frequent) event I could not provide them with what they wanted I was able to give them more avenues to follow up. My horses left my property well handled and ready for their new owner. I answered emails and phone inquiries, I was polite, helpful and engaged. So tick for service.
So what about the final consideration, market? Was there a Lexus market for my Lexus product or was I addressing a Toyota crowd? The thing about the horse world is that as a group we are united by our love of the equine, but from there is starts to fragment rapidly. For everyone who loves a breed there are those who wouldn't own one if you paid them, for every person who thinks that Olympic Dressage is the epitome of training and grace there are those who prefer to chase cattle and throw them to the ground with a rope. The first step was to determine who my market was. And that perhaps is where I bit off the really tough mouthful. The market I wanted was not just the Friesian enthusiast, but the Dressage Enthusiast that wanted something a bit different. So the Freisian enthusiast is going to bed at night dreaming about big black horses with flowing manes and shiny coats. Its is all about the horse and how it "speaks" to them. They may not have deep pockets but they are prepared to do what it takes to afford their dream. More your classic car market than your Lexus. Dressage people on the other hand can be broken up into even more subgroups. At the extreme end you have the professional, the person who has serious aspirations of representing their country and for them it is all about the ability of the individual horse to do that. And there is a breed that dominates the world in this respect having been purpose bred for the job for hundreds of years (predating the actual modern Olympics - they must have been prescient). At the extreme other end you have the happy amateur enthusiast that dabbles and does it in what ever horse they happen to have, colour shape size, breed etc are irrelevant as long as it is equine and you can sit on it. So my very narrow market was people who want to do well in dressage at the local, state and national level but don't have serious aspirations (though we can all dream) of making the Olympics and also want to do it on fairytale horses a la Ladyhawke.
So Product - tick, Price - tick, Service - tick, Market - dodgy. It is there alright and prepared to pay but just how large is it?
Having Positioning sort of nailed (a bit lacking in market research) it was time to look at my Branding in the context of that position.
First of all we concentrated on the horses themselves. My two stallions are placed with a professional rider, they compete at every major competition in our state and often venture interstate. They are known by everyone in that world and have their own little band of admirers. My older stallion has his own facebook page, we have a new you beaut website (I thought) that I am now able to update myself (much quicker and more relevant), I advertise in the horse persons bible. I have corporate colours, I have logo's, I have a youtube video that constantly gets hits from all round the world. I'm on appropriate special interest forums where I am a community member not just a spammer with plugs for my horses. I have in the past exported horses to New Zealand and have sold horses to most other states. I have served on the board of our breed society.
Yet I have become invisible! Some one who lives but an hour away, knew my horses, had seen them in action, could not find me. I have also found that I was getting less inquires (and was talking that down as due to the large increase in breeders and thus availability of horses) and that the recent sales I had had were from referrals to me from other breeders?
What was going wrong?
Well I'm working on that but two things have emerged. I need to expand who I am talking too. The "old crowd" know me and where to find me but I am not connecting with the person who sees one of my stallions or someones else's horse or just some pictures on the internet. I need to increase my "chatting' sphere. Find where those new people are looking. Secondly my website, or rather sites. My old site (which I have no control over) comes up first in every search and of course it is woefully out of date and has no link to my new one It needs to be taken down so my job now is to keep hassling till that happens. The second is I am on a crash course to learn how to promote my new one so it comes up when people search not just for my stud but for my breed. That's the starting place anyway.
So what is the learning in this? Yes you have to get your positioning right and spend a lot on time on that, but once you have done it, don't take you eye off the ball. Your market is always changing and moving and you have to be nimble and move with it.
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Tashkent Friesians
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