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What Is Brand Positioning?
Brand positioning is a marketing strategy focused on building a unique brand identity that differentiates a company from its competitors in consumers' minds. The goal of a brand positioning strategy is to make the target market view the brand in a distinct way and to clearly communicate how the brand has a competitive advantage in the market.
Why Is Brand Positioning Important?
Effective brand positioning is a crucial element in growing your business.
- It creates market differentiation. A great brand position that promotes the uniqueness of your brand is essential in order to capture a larger market share from your competitors. When brand marketers successfully convey that a product has more desirable features and addresses a need better than other products, they create buzz around the brand that's hard for consumers to ignore.
- It prioritizes value over price. If a marketer can effectively show that a brand has a higher value than its competitors, pricing will be less of an obstacle in many customers' minds. This is because consumers will likely be willing to pay more for a product they know is better than a cheaper alternative.
- It creates customer loyalty. Once consumers trust your brand name and your products, they're likely to become repeat customers. In addition, strong brand positioning incentivizes customers to skip the product research process and go directly to your brand to fulfill their needs.
- It drives marketing efforts. If you don't have a clear and convincing brand position, it will be difficult to write marketing messaging that communicates how your brand is unique in your product category. You'll find that once you understand exactly what makes your brand stand out from the competition, it becomes easier to craft an effective marketing message that speaks to your target demographic.
What Is a Brand Positioning Statement?
A brand positioning statement is a short description that communicates how your brand has a unique value for your target market compared to your competitors. Unlike a marketing tagline or slogan, a brand positioning statement is meant to be kept internal to help a company drive their business plan and define their competitive advantage.
How to Write a Brand Positioning Statement
Follow this basic template to construct a brand positioning statement for your company:
"For [target customers], [brand name] is the [business category] that delivers [brand’s promise] because only [brand name] provides [competitive advantage]."
Using the above template, here's an example of a possible brand positioning statement for an electronics company:
"For style-conscious, tech-savvy consumers, this brand is an electronics company that makes top-of-the-line computers and mobile devices. Unlike other electronics brands, this brand produces sleek, innovative, and accessible products that become an essential part of their consumers' lifestyles."
3 Tips for Creating a Brand Positioning Strategy
To create an effective brand positioning strategy and achieve positive results, consider these three tips:
- Be relatable. One of the simplest ways to capture the attention of your target audience is to gear your brand positioning strategy to their specific needs and experiences. When your target audience sees that their values align with your brand's values, they will see your brand in a positive light.
- Study your competitors. It's difficult to beat the competition without familiarizing yourself with their brand position. Research who your top competitors are, break down their brand positioning strategy, and form a plan to top it.
- Be flexible. Every brand must be open to change if their current strategy isn't cutting it. Listen carefully to customer feedback and evaluate your sales in order to determine if your original brand positioning strategy is working. If you see room for improvement, be open to adjusting your strategy.
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