How to Position your Brand Effectively
To position your brand, you need to "find" and "carve" a niche for your brand, product, or service by employing various methods such as price, promotions, distribution, packaging etc. The aim is to leave a lasting impression on the customer to always link your brand with something unique and attractive.
Brand positioning occurs whether or not you are proactive in defining a position. However, if you're deliberate about it, you can positively stand out in the eyes of your target customers.
What is the Essence of Brand Positioning?
Whether you like it or not, your brand already have a reputation, so a brand positioning strategy to help you take control of your brand image and reputation.
A company's brand positioning aids and enables differentiation in brand awareness, value proposition and pricing justification, all of which impact the bottom line.
However, not all brand positioning strategies are created equal or have the same goal. Your positioning and language will differ depending on your product, service, and market.
Consider the following scenarios:
A handbag manufacturer may present itself as a status symbol for the wealthy.
A television manufacturer may position its product as the most innovative and cutting-edge on the market.
A fast-food restaurant business may market itself as a source of low-cost meals.
A soda manufacturer may represent itself as the only non-sugar soda drink on the market.
Types of Positioning Strategies
Positioning tactics come in a variety of shapes and sizes. Here are a few instances of positioning:
Benefits and features of the product: Associating your brand/product with specific attributes or a specific value
Price of the product: Establishing a link between your brand/product and competitive pricing
Quality of the product: Associating your brand/product with excellent quality.
Application and use of the product: Associating your brand/product with a specialised use
Competitors: Convincing customers that your brand/product is superior to those of your competitors.
How to Create Your Brand Positioning Strategy
1. Determine The Present Position Of Your Brand
Are you currently selling your product or service as if it were just another commodity on the market or as something unique? Your present brand positioning might help you figure out where you should go next. To further analyze your competitors, you need first to assess your current position.
Begin by thinking about and defining your target customer. Next, determine your mission, values, and what sets you apart from the competition. Finally, evaluate your value proposition, as well as your current brand persona and voice.
2. Make a List of Your Competitors
Self analysis or brand audit is always a great place to start, scope your competition because you'll need to know who you're up against. A thorough competitor analysis will assist you in determining what you can improve in your plan to get an advantage.
There are a variety of ways to figure out who your competitors are, including:
Market Research: Ask your sales team about any competitors that come up during the sales process or perform a quick search using the right 'keywords' to see which organisations come up.
Conduct Customer Surveys: Ask your consumers about other brands or products they considered before deciding on yours.
Use Social Media: Sites like Reddit, Quora, and many more allow customers to ask about products and services. Find competitors in your niche by searching these forums.
It's time to undertake in-depth competitor research once you've discovered who your competitors are. To compete, you'll need to look at how your competitors are positioning their brands. At its most basic level, your research should comprise the following:
What services or goods do your rivals provide?
What are their strengths and weaknesses?
What successful marketing methods are they implementing?
What is their current market position?
3. Determine what Distinguishes Your Brand
Creating a distinct brand is all about figuring out what makes you stand out and what works best for your company. Start by establishing what 'effective' really means for your company and what you want your brand to be known for — and then develop its image based on that.
You'll probably notice patterns after conducting competitor analysis. You'll see that various companies have similar strengths and shortcomings. When you compare your product or service to theirs, you may discover that one of their flaws is your strength.
This is what distinguishes your brand, and it's a great place to start when it comes to brand positioning.
5. Write a Positioning Statement
Now is the time to put all you've learned into a brand positioning statement. A positioning statement communicates your brand's distinctive value to your customers in comparison to your primary competitors.
Before drafting your positioning statement, consider the following four questions:
Who is your ideal client?
What is the nature of your product or service?
What is the most significant advantage of your product or service?
What evidence do you have of this benefit?
What do you want people to remember about your brand?
Evaluating Your Brand Positioning Strategy
Finally, an educated and well-crafted positioning statement will help you focus and clarify your marketing strategy, advertising campaigns, and promotional tactics. This statement, when applied correctly, can assist you in making informed decisions that will help you differentiate your brand, attract your target clients, and gain market share from your competitors.
Here are ten criteria to consider when evaluating your brand's positioning:
Is it unique to your company?
Is it consistent with client perceptions of your company?
Does it encourage growth?
Is it able to pinpoint your brand's distinct value to your customers?
Is it able to evoke a mental image that is distinct from that of your competitors?
Is it aimed at your most loyal customers?
Is it inspiring and memorable?
Is it consistent throughout your company?
Is it simple to understand?
Is copying it difficult?
You can make something unique if you make everything you do an expression of your desired positioning. This requires guts; actively positioning your brand necessitates taking a stand for something. Only then will you be on your way to fully carve a niche in your customer's mind.
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