What do you think when you hear the term “brand positioning?” You may believe it refers to how well your logo and business stand out from others. While this is part of it, there’s more to it than just that.
Brand positioning is how your brand’s vision, identity, and product are positioned in the market compared to the competition. Even more importantly, it’s what you are best known for in your customer’s minds. Ultimately, your audience determines where you sit compared to your competition.
To ensure you are thought of first by your customers when they are ready to buy what you offer, you must position your brand with a solid, clear foundation.
The Importance of Brand Positioning
It’s estimated that 89% of brand marketers are focused on building engaging brand experiences. Also, 77% of B2B marketing leaders are convinced that branding is an essential part of ongoing growth. Because of this, it’s easy to see how important brand positioning really is.
Along with customer recognition, proper brand positioning offers other benefits to your business, which include:
- Market differentiation
- Simple purchase decisions
- Value conformation
- Magnified messaging
Tips to Create Strong Brand Positioning
Any marketer has the ability and capacity to create a strong brand positioning strategy. The biggest challenge is ensuring it turns into actual business results that resonate with your company’s target audience.
Doing this requires more than a statement. Strong brand positioning requires conducting research, customer data, authenticity, and flexibility.
Tips to help with this include:
Conduct Research First
Benchmark your competition to figure out their brand position, how well it is working, and what you can do better. When you know where you stand compared to the competition, you can position yourself in a new way to ensure your customers pay attention.
Your brand position is what you want people to think when they see or interact with your business. Because of this, make sure you are authentic. Create a story that captures your business mission and then incorporate your values so you can seem trustworthy and relatable.
Adjust As Needed
Creating a brand position does not mean you can’t ever change it. If you find flaws in the statement or get subpar customer feedback, it’s time to adjust your statement and messaging.
Ways to Improve Brand Positioning
Brand positioning isn’t a set-it-and-forget-it marketing process. While you don’t have to conduct a complete overhaul each year, you should revisit it regularly to see if there are ways you can make it better.
Some tips to help make improvements include:
- Listen to what your customers say
- Refocus the statement
- Build some buzz
Your Business’s Brand Positioning
Brand positioning is essentially the difference between a household name and another company working on competing in a market that’s already oversaturated. Even after you establish your initial brand positioning, make sure you stay flexible and fine-tune your statement to make sure you build the best customer relationships possible.