Brand Positioning
When it comes to marketing tactics and strategies, there is no one size fits all. Different tactics work for different companies depending on the size of their company, their target audience and their goals. But there is one strategy that every business, regardless of these factors, should utilize: brand positioning.
Brand positioning involves strategically differentiating your brand from others in the same space and total market. If a company has done positioning correctly, their target audience will think of their product or service when the need arises. It is to set a brand apart from competitors and create an overall image in the consumer’s mind.
The Role of Brand Positioning in Marketing
Brand positioning is an essential and fundamental part of the marketing process. By positioning, you’re telling your potential customers why they should choose your product or service over the competitors’. The stronger and more consistent your positioning is, the more memorable your brand will become and the more successful you’ll be.
Without proper brand positioning, your brand will struggle with credibility, visibility, and brand recognition. The consumer needs to understand the value proposition of your product or service, why it’s different from competitors, and the competitive advantage it offers.
Steps of Brand Positioning
The positioning process consists of three steps:
-
Define Your Target Audience
The first step in positioning your brand is to identify the target market you plan to focus on. This includes the demographic, psychographic, and geographic information, like gender, lifestyle, buying habits, and location. -
Analyze Your Competitors
The second step of the positioning process is to analyze your competitors’ offerings, messaging and positioning. You want to learn about their products, services and messaging to ensure you differentiate your own brand from theirs. -
Craft Your Positioning Statement
The last step of the positioning process is to develop your positioning statement. This is a brief summary of your overall brand position. It should include your target audience, your unique value proposition and differentiators from your competitors.
Benefits of Brand Positioning
The benefits of brand positioning are numerous and can help any business big or small. Here are some of the most important benefits:
• Increased visibility: When done right, brand positioning can build brand recognition, leading to more visibility.
• Improved customer loyalty: When consumers are familiar with your product, they’re more likely to come back and become loyal customers.
• Higher ROI: By having a solid brand presence, you’ll be better equipped to convert customers, leading to higher ROI.
• Long-term growth: Consistent brand positioning builds trust and credibility with customers, leading to long-term growth.
• Competitive advantage: Differentiating your brand from competitors gives you a major competitive advantage.
To be successful, brands need to be well positioned against their competitors and have a clear, consistent message and story. Brand positioning is essential for any business that wants to be successful in the long-term. And when it’s done correctly, brand positioning can lead to increased visibility, improved customer loyalty, higher ROI and long-term growth. It’s the key to long-term success.
