Are you looking for ways to leave a lasting impression of your brand on the minds of your target audience for a specific reason, such as to help them distinguish it from the competition?
However, you recognize that you cannot expect your audience to figure out why they should choose your brand over a competitor’s on their own. As a result, you must assist them in making that decision, which is where a brand positioning strategy comes into play.
This article will talk about brand positioning, its importance, and how to create a strong brand positioning strategy.
So let’s get started!
What is Brand Positioning?
The process of positioning your brand in the minds of your customers is called brand positioning. It’s a strategy for setting your business apart from the competitors.
Effective Brand positioning should be appealing, specific, obvious, and distinct from the competition as it allows a company’s brand to stand out from the competition in the marketplace, highlighting superiority along with one or more distinctive qualities that consumers appreciate.
The brand can be distinguished from other brands based on user benefits, linked brand qualities, and/or market segment emphasis, among other things.
Now that you understand what brand positioning is. Let’s move ahead and know the importance of brand positioning before you know the steps for creating a Brand Positioning Strategy.
Importance of Brand Positioning
Sets you apart from the competition
Brand positioning lets you carve out a unique zone for your practice that no competitor will dare to enter because they will be labeled as walking in your footsteps.
If your company competes in a competitive market, you must provide the best possible experience. This ensures that your products, services, and company provide a distinct value proposition while also allowing you to investigate niche prospects. When it comes to how to develop a brand positioning strategy, defining your uniqueness will help you stand out from the crowd.
Assist you in concentrating on a certain target market
Companies that define themselves as specialists develop twice as quickly as companies that describe themselves as generalists. The company determines the qualities of the consumer who would be interested in their products/services when they target a market. They also gather data on the tastes, preferences, and requirements of these customers.
You’ll be obliged to tailor your services suitably if you stake a claim to a specific feature or advantage through positioning. Brand positioning is purposefully tailored to the interests, needs, and preferences of the target market’s consumers. As a result, you’ll be seen as an expert in such services, increasing your worth to potential customers.
Encourages more efficient and innovative decision-making
You’ll have the insight to make more effective selections throughout the creative process once you’ve defined the fundamental message required to market your brand positioning. Clear positioning is the foundation for clear communication.
Your brand elements and message will be on target to complement your positioning if you’re clear on your positioning. It’s easier to take control of your market position when you’re consistent.
Adds to the creativity of your brand
Although many brands offer products and services that are highly similar to the same target market and consumer, their brand positioning distinguishes them. As a result, your brand’s placement can make or break it. Customers will return for more if you combine a unique, inventive approach with excellent execution.
Writing a copy isn’t enough if you want to connect successfully with your audience. That is why, in this scenario, using visuals is a good option. You can use brand positioning to identify the fundamental story as the starting point for engaging your target audience with their preferred colors.
Aids in the justification of your pricing strategy
Brand positioning aims to identify and compare your company to the competition. Understanding their specific product will help you determine whether your price point is strategic or why you justify it.
As a result, you’ll be able to justify why your prices are higher or lower than those of your competitors. The brand’s positioning can be utilized to support a price strategy. To put it another way, when a product’s price is high due to its quality and rarity, and the brand positioning accentuates these aspects, the cost becomes acceptable in the eyes of the customers. This is also true for more economical products.
Steps for Creating a Brand Positioning Strategy
Developing your own brand positioning strategy entails delving into the nitty-gritty of your business and figuring out what you do better than anybody else.
The following are the steps for creating a Brand Positioning Strategy –
Determine The Company’s Distinct Characteristics
The first step to create a brand positioning strategy entails an in-depth examination of the brand from within to determine the core values, fundamentals upon which the brand is based, strengths, long-term vision, value propositions, attributes, and features that distinguish the brand from other brands in the market offering similar products and services.
Is your product or service being marketed as just another commodity on the market or as something unique? Your current brand positioning can help you figure out where you should go from here. To examine your competition more thoroughly, you’ll need to know where you are now.
Determine Your Direct Competitors
Identifying the brands in the marketplace that pose a direct threat to the brand is the next phase in the successful Brand Positioning process. The brand must examine and comprehend the competitive brands’ core value, brand strengths, nature of products and services offered, ethos, and basics. They must also identify their unique selling propositions and the characteristics that distinguish them in the market and customers’ minds.
Examine the market for your products/services and determine which other companies are selling a product/service similar to yours. Inquire with your sales staff about which competitors they frequently encounter during the sales process.
Your customers are the key to uncovering your direct competition. They frequently discover unanticipated competitors who were previously unknown to you. You may learn more about your competition by looking into your customers’ conversations on online platforms.
Identify Your Unique Value Proposition
Your value, who you deliver it to, and what sets you apart from the competition are all described in your unique value proposition. Your target market should be able to relate to your unique value proposition.
To come up with a proposition that will help you form that relationship, you must first figure out who your target market is. Knowing your competitors can help you determine what sets you apart and what value you can offer that other businesses can’t. Consider your audience’s and competitors’ pain points in connection to you. Consider the problems that your audience faces that your competitors cannot address. Look for areas where you can fill in the blanks.
Choosing the best Unique Value Proposition is a process of trial and error. Still, with the appropriate method, you can develop a proposal that clearly demonstrates the unique value you can offer.
Develop Your Messaging Statement And Framework
When determining how to create a brand positioning strategy, it is critical to focus on messaging statements such as the mission statement, vision statement, and tagline. Taglines communicate who you are and what you stand for to the rest of the world.
Although they are remarkable, your brand messaging entails much more than stringing together a few evocative words with enough flare to make them unforgettable. Always strive for the message that speaks to their needs, desires, and pain spots.
Your mission and brand positioning statement adopts a more forward-thinking approach. What do you want to achieve? What do you want to accomplish in the end? In accordance with the brand’s attributes and inherent nature, all message assertions should be clear, concise, and distinct.
Make A Solid Relationship with Potential Customers
Connecting with your customers on a human level before going for the hard sale develops trust and helps them have a better experience with your company’s brand. It is one of the important ways to build a brand positioning strategy. Communication is an integral part of any good relationship, and it’s also a necessary part of building ideal customer relationships.
Rather than merely telling each potential customer about your business, have conversations with them. Determine your consumer perception, what they require, and then demonstrate that you offer a solution to their issue.
Customers can be reached through a variety of online tools and social media sites. Ensure you’re not having a one-way discussion with your customers when interacting with them online. Customers will appreciate it if you take the time to ask them questions and respond to their concerns. Make sure your website is up to par, and develop a blog to keep your customers and prospects interested.
Without a doubt, strong brand positioning is one of the most important aspects of a brand strategy.
Whatever business you’re in, it’s likely to be a noisy environment filled with competitors all vying for the attention of your common audience. Following the above-mentioned effective steps for creating a brand positioning strategy, you will have an idea that your audience associates with your brand and only your brand.
Written by – Kirti