When you hurt yourself, do you ask for a bandage or a Band-Aid? Companies that have achieved success like Coca-Cola and Band-Aid share one critical thing in common: an outstanding brand positioning strategy. In actuality, these brand names have transformed into everyday words vernacular for comparable items in the same sector.
Brand positioning is a key component of any successful business, and the evidence supports this – businesses with consistent branding and corporate identity have seen an average revenue increase of 10-20%. This includes advantages such as higher customer loyalty, more positive perception from consumers and creating a distinct identity that separates you from your competitors. In this post, we will cover the bases of what is brand positioning and why it is important for a successful business
What Is Brand Positioning?
Brand positioning is a marketing practice used to craft and express a company’s unique identity and value. It allows businesses to establish their brand in the minds of customers, setting them apart from other competitors by communicating why they are the ideal choice. Through strategic brand positioning tactics, companies can position themselves as industry leaders within their target markets while connecting with audiences around values that resonate with their mission and goals.
Understanding Brand Positioning Statement
A brand positioning statement is a concise summary that companies use to express and highlight the value their brand offers customers. It communicates a company’s value proposition in an effective manner and should be both aspirational and realistic when included as part of a larger marketing strategy. This allows businesses to have greater success in targeting their desired market with clarity and focus. Crafting a compelling brand positioning statement requires thoughtful consideration of the following:
- Who is the ideal customer to target?
- What type of product or service do you offer?
- What is the biggest advantage that your product or service offers?
- How will it make a positive change in the lives of customers?
- What evidence is there to support this benefit and impact?
By answering these queries within a brand positioning statement, corporations have the opportunity to craft a crystal-clear value proposition that differentiates them from their rivals. Most importantly, this allows companies to impart their specific values and benefits directly to customers.
Importance Of Brand Positioning
A comprehensive brand positioning statement is essential for a company to communicate its value and purpose to customers. It should cover who its customer base is, as well as what they offer them; this ensures it stays relevant yet realistic. To make sure this message reaches the right people, there are several marketing strategies that can be implemented in line with your statement – these will help expand your reach even further.
Creating A Brand Positioning Strategy
Companies of all sizes and mission statements can build a brand positioning strategy that caters to their industry’s segment. There are numerous pathways they can take in order to construct and expand this plan effectively.
- Uncovering how your brand is currently presenting itself to the public.
- Distinguish the exclusive benefits that you offer.
- Determining who your competitors are and how they position themselves in the marketplace.
- Crafting an impactful positioning statement that expresses your brand’s identity and messaging.
- Putting your position to the test by assessing and analyzing its efficacy.
- Highlight your brand’s unique characteristics to stand out from the competition.
These steps are designed to assist brands in discovering their competitive edge and showcasing the unparalleled value that customers can gain from their products or service. Concentrating on what they have to offer will help them craft a brand positioning strategy of great consequence that resonates with clients.
One amazing way to establish an effective brand positioning is by marketing your product in a unique and creative way and product photography is among the most basic yet remarkable ways to do that. Learn more about that in Why is product photography important for your business. Also, if you want to see how effective it can be, then check out how we helped Tropilite achieve the same.
Brand Positioning Examples
To understand the power of brand positioning, let’s explore how some iconic brands have utilized it as part of their marketing campaigns to successfully reach their target customers.
McDonald’s Brand Positioning
McDonald’s stands out from its competitors by delivering both remarkable customer service and consistency across all of its many locations. The company focuses on creating an unforgettable experience for customers while simultaneously striving to improve the quality of its operations, which is reflected in how it positions itself in the market. Their dedication to enhancing the customer journey through subtle yet impactful methods has earned them a loyal following who values McDonald’s commitment towards excellence.
Dove’s Brand Positioning
Dove stands out from the crowd with their range of personal care products, instead choosing to focus on every woman’s unique beauty and encouraging them to embrace it. With strategic campaigns that are sure to make an impact as well as other marketing tactics, Dove has positioned itself in a way that resonates deeply with its customers.
Now that you have a better understanding of what is brand positioning and why it is important for your business, it’s time to draft a strategic plan that establishes your brand as the best option compared to other competitors- whether this is through friendliness, convenience, affordability or quality.
Brand positioning isn’t the only way to achieve the success you envisioned for your brand. If you are interested in that then you would perhaps find How to use paid campaigns to grow your business very helpful.
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