Needless to say, the world of business is cutthroat. Establishing your presence in your market, whether it’s competitive or not, can be challenging if you don’t develop a central brand positioning strategy. Let’s face it – building a strong brand requires having a lot of equity in your industry.
With that being said, what are you doing to ensure that your company is at the top of its industry? It certainly takes more than delivering quality products and services to build a strong reputation and propel your brand. In this article, we’re going to break down all of the aspects of brand positioning.
At the end of the article, you’ll receive all of the insights you need to construct an effective plan to begin positioning your brand towards success.
What is Brand Positioning?
If you have clicked on this article, then you likely have some clue of what brand positioning is. After all, the word itself provides a self-explanatory definition. In simple terms, brand positioning is the process of “positioning” your company in the consciousness of your target audience.
This entails more than a logo or tagline. Brand positioning is the complete strategy of setting your company apart from your competitors.
Why is Brand Positioning Important?
Take a moment to think like a customer. Let’s say you’re shopping online for winter boots. After conducting an online search you stumble unto millions of results. Realistically, only a few of these results will satiate your need to purchase winter boots.
Nonetheless, here’s the most important question – “how is your company different from all of the others that sell winter boots.” Without getting into any cliche rhetoric such as “we truly care about our customers” or “our products are authentic”, truly think about your answer.
A standard consumer has several options to choose from when they want to shop online, hire a contractor, or subscribe to a service. In the back of their minds, they’re wondering why they should give you the time of day and spend their money.
If you don’t have an existing brand positioning strategy and instead rely on the aforementioned cliches, you could miss out on wide-open sales opportunities. Thus, building a brand positioning strategy is important to communicate throughout your team of what sets you apart from your competitors.
It’s also essential for the following reasons:
- A documented brand positioning strategy is a pivotal resource for your sales teams. This will enable them to address the pain points of your target audience and broker more refined leads and sales opportunities.
- It also helps to provide your entire team with defined characteristics of your business. This leads to the development of a company identity.
- It finally leads to unprecedented results in your lead generation efforts. This means more revenue coming in for your business.
As you can see, developing a brand positioning strategy can impact the trajectory of both your sales and marketing campaigns. If you want to learn how you can create one for your business, then continue reading below.
What is Effective Brand Positioning Strategies?
Per the Branding Journal, brand positioning is characterized as the extent, to which a company is perceived as unique, favorable, and credible in the minds of consumers. Over a century ago, a soft drink company decided to elevate itself above its competitors of the day and make a soda that was truly unique.
That company was Coca-Cola, and it is now a worldwide brand known as the golden standard of soda. No matter what industry you’re in, your brand has to tell a story or evoke a different feeling from consumers if you want to broaden your scope.
Here are some effective ways of positioning your brand toward success.
- Develop an emotional connection with your target audience and customers. A business shouldn’t be the robotic and mundane transaction of goods and services. Instead, you should strive to connect with them on a human level. This will build trust and lead to them having a positive experience with your business. For example, during the introductory phase of the sales process, invest the time to learn some personal things about your prospects. Consumers are more willing to work with brands they feel comfortable with.
- Reinforce your brand’s unique characteristics. If your company is truly unique, then understanding the different qualities should be simple for your team and prospects. Make sure both parties know what makes your company unique throughout the sales process.
- Create value. Your sales team is responsible for helping your prospects solve a problem or overcome an obstacle they’re facing. This cannot be achieved if you don’t create and provide value to your prospects. Ideally, your offerings are only part of the solution. The other part is the direct troubleshooting on your prospects’ behalf.
- Embody your company’s brand. Anyone that is working a customer-facing role within your company is its strongest ambassador. You should ensure that your customers are provided an experience that aligns with the core values of your company. For example, if your company has a light-hearted and comical way of doing business (like Progressive), then you should incorporate this language during dialogue with your prospects. A stoic or stiff tone likely wouldn’t be effective.
These are the basics of establishing a brand positioning strategy for your company. In the following section, we’ll discuss more specific ways you can position your company to new heights in your industry.
What is Core Brand Positioning Tactics?
In short, building the perfect brand positioning strategy for your company entails digging deep into specific details of your brand and discovering what you offer that no one else does. These steps will help you to gain some valuable insights into what your company is all about and how you can position it for success.
Step #1: Determine where you currently are
Are you currently marketing your offerings as just another thing on the market, or are you promising a distinctive product to your target audience? You can’t go anywhere if you don’t know where you are. With that said, your current brand positioning will help you to understand where you should go next.
This will also help you analyze your competition as well. If you want to get started with identifying your current brand position, identify who your target audience is. Next, define your values, mission, and anything else that makes what you offer different than the rest.
For example, the hit TV series Shark Tank showcases creative and innovative creations from inventors. Their main sales pitch is the difference they’ll invention will have on the market. You should do the same and document your unique value proposition to your target audience.
Step #2: Analyze your competitors
After you analyze your company, it’s important to do the same for your competitors. Ideally, you’ll need to see what you’re up against. Competitor analysis will help you understand what your company can do better to gain an edge in your industry.
Competitor analysis is an extensive process and it typically includes:
- Start conducting market research. Consult with your sales and marketing team which of your competitors are mentioned during the sales process. You can also do a quick keyword search (ex. web design companies in Houston) to see which companies come up.
- Use customer feedback. Ask your customers which businesses they were considering before deciding to work with you.
- Use social media. Social media is a marketplace for thoughts and ideas from consumers. Sites like Quora provides a platform where users can ask questions about popular products and services. Take a look at these forums to see if your brand is being mentioned.
After you have performed the following steps, you should get a gist of which competitors pose the greatest risk to your business. Gaining valuable recon on your competitors can give you an edge when it matters most.
Step #3: Create a positioning statement
It’s time to take what you’ve learned to create a one or two-sentence statement that communicates your brand’s unique value to your target audience. If you’re stumped on what to create, take a look at Amazon’s: “our vision is to be the earth’s most customer-centric company; to build a place where people can come to find and discover anything they might want to buy online.”
Doesn’t this sound totally like Amazon? Your positioning statement should be concise and all about who you are and how you’re special. Your team will use this statement as a credo to lure in your target audience. Therefore, try to make this statement as inspirational as you can. Amazon’s was a fantastic example of this.
Take the Next Step Today!
Creating a brand positioning strategy is only half the battle of establishing a uniqueness about your company. At the end of the day, you’ll need a precise marketing strategy in place to put your offerings right in front of your target audience at the right time.
If you want a highly-qualified marketing agency to put together a brand positioning and marketing strategy for you, don’t hesitate to call us at (346) 220-4243 to speak to a member of our team today!