What is Brand Positioning?
Brand positioning is defined as the conceptual position you want to have in the minds of your target consumers-when they think of your brand, the benefits you want them to think of. An effective brand strategy will maximize customer relevance and competitive uniqueness by maximizing brand equity. Every brand has a reputation whether you maintain it or not, so you might as well create a well-defined brand positioning plan to help you maintain your reputation and image. Brand positioning helps increase brand awareness, communicate value, and justify pricing, all of which impact the bottom line.
From mobile phone manufacturers and online retailers to non-profit organizations, brands help customers identify companies and connect directly with them. One key factor for success is to understand the number and level of your brand. No company can truly succeed in the marketplace without consistent branding positioning.
Branding is important to your business in the following four aspects:
- Market differentiation-Demonstrating the uniqueness of your products in any industry will create a huge advantage. Customers will notice when you use brand positioning to celebrate how your product solves a specific problem.
- Easy purchase decision-By clearly defining your product and how it benefits your customers, you can eliminate guesswork during the purchase process. When you provide customers with answers to the questions they are looking for, they will trust and buy faster.
- Value confirmation-A strong brand does not have to rely on price wars with competitors. The positioning of a big brand establishes the high value of your product, making customers want to buy it anyway even if it is not the cheapest on the market.
- Enlarge the message-a clear brand positioning statement provides you with a springboard for engaging and creative storytelling. By having a specific vision, you can enhance every additional marketing component to further consolidate your position in the competition.
Any marketer can develop a brand strategy. The real challenge? Let it bring real business results and resonate with your target audience. You need more than a well-crafted statement. To establish a strong brand positioning, you need research, customer data, authenticity, and flexibility.
You need more than a well-crafted statement. To establish a strong brand positioning, you need research, customer data, authenticity, and flexibility. The following three tips can help you:
- Do your research: Compare all of your competitors to determine where your brand is, how you perform, and how you beat it.
- Authentic-Your brand positioning is what you want people to think of when they see your company, so make sure it is authentic. Write a story that captures your mission as a company and incorporates your own values so that you can always resonate and be trustworthy when you talk to her.
- Adjust accordingly: Having a fixed marker position doesn’t mean you can’t change it. Don’t be afraid to adjust your information accordingly when you find flaws in the statement or unsatisfactory customer feedback.
Your brand positioning must be dynamic and fluid. This does not mean that you have to conduct a major review every year, but you should revisit it at least quarterly to see how you can improve.
Here are three ways to improve brand positioning:
- Listen to customers-don’t establish brand positioning out of thin air. In order to resonate with your customers, make sure you listen to them. Set up focus groups, send surveys, or just talk to customers at events, and use all this knowledge to enhance your message.
- Refocus your statement: Is your brand positioning too much? Have you overlooked one or two things that really make you different? If your statement loses its focus, please return to the basics by reviewing your preliminary research or conducting a new survey to see if your statement is still valid.
- Build buzz-If you are a small business just starting out, you may not have enough followers to test your brand positioning. If you need to pay more attention to your information, please put some paid ads on your brand statement to test the control statement which may be a general statement about your business to understand people’s reactions.
Branding is the difference between a well-known brand or just another company trying to compete in an oversaturated market. Even after establishing the initial brand positioning, always be flexible and willing to adjust your statement to ensure the best customer recognition and relationship.
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