Your brand identity is what distinguishes your company from the competition. More business and a greater connection to your audience result from having a more favorable image than your rivals. But how does a company do this? The key is excellent brand positioning.
We are no longer in the 1980s. One cannot just decide to launch their own company and daydream about making fortunes after taking over the business. All because the variables have shifted, and the level of competitiveness has skyrocketed. We are not starting the queue right now. We agree to participate. However, just because we are in line does not mean we can’t stand out and become the only brand that counts. Effective brand positioning is a launching pad and a must-have if you want to be more than merely in the Top 50s in your sector, despite the fact that it requires time and work.
Understanding Brand Positioning
The perception of a brand in the eyes of customers is what brand positioning is all about. Consider this: if you ask a consumer which brand of smartphone sets the benchmark, they’re likely to say Apple. Coca-Cola is an easy answer when it comes to soda. Adidas is the most typical response when it comes to sporting footwear. Why? These companies have effectively positioned themselves in consumers’ thoughts. Every brand’s journey begins with brand positioning, which helps to develop sustainability and trust. Clients that have a favorable view of and preference for a brand have a successful brand positioning plan. Recognizing your brand’s role in the market and persuading people to view you correctly are the keys to success. You should strive to be the gold standard.
In a nutshell, brand positioning tactics establish whether or not your brand is worthy of public attention—and, if so, how it is seen.
What Is the Significance of Brand Positioning?
You already have a reputation, whether you like it or not, so make a brand positioning strategy to assist you to take control of your brand image and reputation. A company’s brand positioning helps it to stand out from the competition. This distinction aids in brand awareness, value communication, and pricing justification, all of which have an influence on the bottom line. However, not all brand positioning plans are developed equally or have the same purpose. Your positioning and terminology will differ depending on your product, company, and sector. We’ll go through some typical brand positioning tactics below to get you started.
Different Types of Brand Positioning Techniques
You have several alternatives to consider once you’ve decided how to position the brand in the marketplace. It depends on the market served, and the offerings of rivals, but most importantly, you must build a branding strategy that offers you a competitive edge, either directly or indirectly.
1. Marketing Strategy for Customer Service
Consider this circumstance: You’re looking for a flower vase and come upon an excellent selection. However, Amazon and the vase brand’s website are two more options for purchasing. Which of the two options would you choose? Isn’t that Amazon? But why? Because you have more faith in Amazon than any other home-décor brand. You know that if the goods are faulty, Amazon will do everything possible to fix your problem quickly and painlessly. You’re confident in Amazon’s ability to offer exceptional customer service.
Continuing with the same brand, when it comes to customer service, Amazon is unrivaled. In fact, it is only because it embraced a customer-facing strategy that it has been able to dominate rival E-commerce companies. This is known as a customer service brand positioning approach. As a brand, you stand out because you love your clients and believe in offering outstanding service.
2. Price-Based Brand Positioning Approach
What would you do if you discovered two brands selling the same product but at different rates? It’s natural to prefer a brand that offers a lower-cost product. As a result, shoppers may select your brand depending on your price approach. However, if you are a newcomer to the market, your profit margin may be a little low due to the high manufacturing expenditure you must invest in. However, if your clients prefer your brand because of the low price, it may balance out.
3. Analyze Your Competitors
Clients are bombarded with dozens of marketing communications every day, many of which are tailored to them based on their search history or other data. What does this imply for your company? Your brand positioning plan will fail to resonate no matter who your target audience is if it is forced to compete with hundreds of others that seem almost identical.
So, conduct your research and see what other firms in your industry are up to. Pay particular attention to:
- Primary selling factors of your competitors.
- What mediums do they utilize to spread their brand message?
- Any discernible flaws and deficiencies.
When conducting competition research, avoid cutting shortcuts. Even if you believe you know a brand, take a closer look at its content and target demographic.
4. Find A Way to Set Your Brand Apart
Differentiation is the key to good positioning. Now that you know more about your competition, it’s time to differentiate your brand. While it’s easy to focus on specific aspects of a product or service, differentiation efforts should go deeper into customer values and how they’re mirrored in your brand. After all, every company wants to be renowned for being great or high-quality, so concentrate on something unique.
5. Additional Positioning Techniques
These aren’t the only alternatives open. Your brand might be positioned as the market leader, the first of its type (the pioneer), or the most popular. You may also sell your product as a remedy to a widespread issue. Another strategy is to compare your brand to that of your competitors. In this technique, you’d use your advertising campaigns to aggressively criticize your competitors and highlight the benefits of your product over theirs.
Take a thorough look at your target consumers and their actions while formulating your viewpoint. How you position your business will depend on whether customers desire to save money, invest in quality, or have the latest and greatest device.
Now that you’ve considered the various options, it’s important to develop a positioning strategy that defines your brand as the friendliest, most convenient, cheapest, or simply the greatest choice among competitors.