Brand positioning is critical if you want your company to stand out in a saturated market, establish a solid following, and become a leader in your field. When you want to create a brand successfully, you should know the strategic importance of brand positioning, which determines the framework that your company will follow through visual design, brand experience, and communication.
Today’s brands must deal with rising levels of competition and mass consumption. If one of your targets is to stand out in a market, your brand should have a distinct position. Think of it as what your brand wants to be recognized for. To have a good start with your marketing efforts, work with a reputable marketing and advertising agency, such as Sortlist.
For successful brand positioning, you’ll need to keep some things in mind. Here are some pointers to help you get started.
Rethink Your Brand’s Current Positioning
Before taking any steps to create a new strategy, your initial task is to assess the current structure you already have. After a thorough assessment, make sure to avoid doing the same thing, so you’ll get the outcome you want.
Generally, it’s perfectly normal to commit mistakes along the way if it’s your first attempt at brand positioning. Keep in mind that building on a faulty foundation is an even bigger mistake because the outcome will be the same.
Take a look at your old strategy and see what you can come up with. The best approach is to take a step back and examine any potential problem areas carefully before settling on the best action to take or even starting from scratch.
Get A Better Understanding Of Your Target Market
Knowing your target audience is essential for a strong brand positioning strategy. If you don’t know who your target market is, brand positioning will be a waste of time.
One way to effectively position your brand is to know what your audience responds to. If your efforts appear to be in vain, you’re not connecting with your audience on a level that’ll pique their interest.
Most brands usually commit the mistake of not utilizing their voices and ideas to present themselves. Many tend to fail since they try to copy what the competition does, which will not work. Note that the audience has already seen and heard what the competition has to say, and if you use the same strategy to promote your brand, it’ll only serve to remind them of the competition.
Make an effort to present your brand uniquely, so you’ll genuinely attract the attention of your target audience. Once your target audience encounters your brand, they’ll think of only your brand.
Make A Chart To Represent The Essence Of Your Brand
After you’ve identified your target market and interests, the next step is to develop a brand highlight that they can relate to while also expressing what your company is all about.
You can make the task manageable by creating a brand essence chart. It allows you to showcase your brand effectively. Your chart should generally include product or service attributes, benefits of using them, a source of authority, and what customers have to say.
Know Who Your Competitors Are
Aside from understanding your target audience, it’ll be best if you learn about the competition. To guarantee that your brand leaves a lasting impression, you should first understand what you’re against. Making an effort to study the strategies used by the competition. This will help you develop a memorable brand.
Interacting with your customers to learn about companies they’re likely to consider or checking out social media platforms where your target audience shares their opinions are two ways to identify the competition.
The next step is to research and analyze the competition after it has been identified. A simple search to gather information isn’t enough. You must conduct a thorough and focused investigation that’ll benefit you.
While researching the competition, you should gather basic information, such as the products or services they render, areas of strength and weaknesses, strategies they utilize for promotion, and how accomplished they are in the market.
Make The Most Of The Information
Once you’ve thoroughly researched the competition, use the data. Identify the competition’s weaknesses and work with them, especially the elements the target audience doesn’t like about the competition. All you have to do is build on that weakness and transform them into strengths. It’ll help you outperform the competition.
However, don’t make the mistake of emulating the competition’s strengths. Rather than copying their strengths, use them as a guide to developing your own style. This approach will save you a lot of hassle and work and offer better brand positioning than the competitions.
Formulate A Brand Position Statement
After you’ve gathered all of the information, write a brand positioning statement, which is a one- or two-sentence statement that tells the audience what makes your brand a unique, valuable, and better option.
Creating a positioning statement will require the right elements. Knowing your target market, the category your product or service falls into, the benefits it can provide, and proof of those benefits will give you enough information to write a good one. Make sure the statement addresses these points, and you’re good to go.
If one of your priorities is to set your company apart from the competition, brand positioning is vital. It’s the next thing to think about when expansion is on the horizon. By taking these steps to create successful brand positioning, you’ll lead your business to greater heights in no time.