What is Brand Positioning?
Brand positioning is a marketing technique that helps businesses separate themselves from competitors. It is defined as the space a firm controls in the mind of a consumer and how it differentiates itself from competitors. Customers can easily recognize and engage with a firm thanks to brand positioning, which is used by everyone from cell phone makers to online shops to NGOs. One of the most crucial aspects of success is how well and how many people are familiar with your brand. It's not enough to create a generic website and hope that millions of people visit it. In fact, without a well-established brand position, no firm can fully survive in the marketplace.
A very important aspect of Brand Positioning is the Brand Positioning Statement and hence we will look at it now.
What is a Brand Positioning Statement?
A brand positioning statement is a description of your target market that also contains a holistic picture of how you want people to view your brand (based on research and data).
Simply said, this statement expresses who, what, when, where, why, and how your Brand Identity is expressed.
Importance of Brand Positioning
It is quite obvious that Brand Positioning is important for enhancing customer recognition. Apart from this, the following are some other reasons why your business needs a Brand Positioning:
Differentiation - In every sector, demonstrating the distinctiveness of your product gives a significant advantage. Customers will notice if you utilize your brand positioning to highlight how your product addresses a specific problem or needs differently than your rivals.
Simple buying decisions - You eliminate the guesswork from the purchase process by explicitly outlining your product and how it may help your consumer. Customers will be more likely to trust and buy if you provide them with the answers to their inquiries.
Customer Value - A successful brand doesn't have to rely on price battles with competitors to prove its worth. Instead, strong brand positions promote the high value of a product, causing buyers to desire to buy it regardless of price (even if it isn't the lowest).
Magnified messaging - A strong brand positioning statement serves as a jumping-off point for engaging creative storytelling. You may enhance each additional piece of marketing to further establish your spot amid the competitors if you have a clear vision.
How to create a good Brand Positioning?
More than a properly crafted statement will be required. You'll need research, consumer data, honesty, and adaptability to build a successful brand positioning.
Here are three-pointers to get you started:
Perform Market Research: Benchmark all your rivals' brands to see where they stand, how well they're performing, and how you can outperform them. You'll be able to position yourself in a way that makes clients pay attention if you're always aware of where you are among your competition.
Be true to yourself: Make sure your brand positioning is genuine. It's what you want people to think about when they see your firm. Create a story that encapsulates your company's objective and incorporates your personal beliefs so you can always be relatable and trustworthy while communicating with it.
Make the necessary adjustments: A fixed brand position does not rule out the possibility of modification. Don't be hesitant to change your messaging if you find weaknesses in your statement or receive less-than-positive client feedback.
What should you avoid while building Brand Positioning?
Even after proper research, Brand Marketers fail to build a good Brand Positioning because they commit the following mistakes:
Not pay attention to your customers - Make sure your brand positioning isn't created in a vacuum. Make sure you're paying attention to what your consumers have to say if you want it to connect with them. Set up focus groups, distribute questionnaires, or just chat to consumers at events to get feedback and refine your messaging.
Failing to re-evaluate your positioning statement - Is your brand positioning attempting to be all things to all people? Have you lost sight of the one or two characteristics that actually distinguish you? If your statement has lost its emphasis, go back to the beginning, and evaluate if it is still successful by revisiting your initial study (or performing fresh research).
Launching without testing - If you're a tiny business that's just getting started, you might not have a large enough audience to test your brand positioning. Run some paid advertisements to A/B test a control statement (maybe a general statement about your firm) versus your brand positioning statement to observe how people react.
Examples of Brand Positioning Statements:
Pepsi - Pepsi is for people who want great tasting soda, and it offers a unique cola flavour that is great for all different types of occasions. Pepsi stands out by being a youthful, forward-thinking company that has been around for many years.
Amazon - Amazon sells books, movies, household items and more online. For people with limited time in their day who want to reduce the stress of heading to the store or the mall to shop, Amazon has nearly everything you need all in one place. Plus, it delivers products to customers quickly, using a dedicated fleet of drivers.
Nike - Nike is targeted to all types of athletes who want clothing that offers performance and comfort while also standing for something more. Nike ensures its customers know they’re getting an edge in competition with their apparel and makes customers feel like they’re part of something bigger.
Conclusion
The difference between becoming a household name and simply another firm attempting to compete in an oversaturated industry is brand positioning. Even after you've established your first brand positioning, remain open to fine-tuning it to guarantee the best possible consumer awareness and interactions.