Ever felt like you’re adrift in a sea of businesses, all vying for the same customers? Positioning your company is like planting a flag in the ground and declaring, “Here we are! We do this best, and here’s why we’re unique!”
It’s about carving out a distinctive place in the minds of your target customers – the place where your business stands tall, proud, and – above all – uniquely suited to their needs.
But why is this concept vital? Your brand positioning strategy lays the foundation for all your marketing efforts. It’s the magnetic North for your brand compass, guiding your marketing, sales, and operations.
When your brand is positioned well, everything else falls into place. Imagine your team as a group of explorers with a mission statement you have a vision. Your brand positioning statement is the cartography that maps the wilderness so you can fully realize your brand strategy.
In other words, you can have a vision for your company but with a brand’s positioning statement, you gain direction.
Elements of Brand Positioning
Understanding brand positioning is a little like designing a secret recipe. It has crucial ingredients, each adding its unique flavor. Mix them right, and you’ve got a winning dish; miss one, and well, it’s not quite the same.
It’s best to first examine the core ingredients before adding a bunch of spices and dialing in your unique flourishes.
The Process: How to Create a Brand Positioning Statement
Imagine trying to build a house without a blueprint. Sounds tricky, right? That’s why creating a brand positioning statement is essential for your business. It’s your blueprint, providing a clear direction for your marketing strategies. It’s the compass guiding you toward your goals in a crowded marketplace. But how do you create this statement? What should it include?
How to Position Your Company: Techniques and Strategies
Once you’ve got the ingredients to position your company. Now, it’s time to bake the cake.
What strategies can you employ to build and implement your brand positioning?
There are a number of brand positioning strategies to use. Because brand positioning is key to marketing strategy, there are a range of options developed by experts over decades.
Five common positioning strategies
Effective brand positioning for a new business or a small business with an internal team is to embrace the five proven positioning strategies:
- Convenience – A key example is how online retailers demonstrate the ease of ordering and shipping directly to consumers. If your marketing tactics disrupt common market conditions, then your target audience is likely to be receptive to new positioning messages.
- Competition – Specific brands like the prior example of T-Mobile target competition with their brand positioning strategy. What do you do that is distinct from competitors?
- Price – Perhaps the most common marketing strategy is value. While price can attract a certain target market, there is very little value proposition beyond marketing discounts. If a competitor undercuts your price, there is little brand loyalty for this target audience.
- Quality – The opposite of the discount brand positioning strategy is quality. Building a company’s brand on quality is a lasting value proposition. Premium brands provide a distinct value proposition to a target market that is often loyal across multiple buying cycles.
- Differentiation – For emerging companies and new technology, a brand positioning statement that clearly states why you are different from other businesses in the market can be highly effective. Consider the prior examples of how many of the most successful brands launch as rebels and disruptors. If you can demonstrate a quality alternative to established norms, then you can captivate audiences and quickly grow a consumer base.
Three Rules of Brand Positioning
No matter which brand position strategy you choose, you must remember these three rules: clarity, consistency, and uniqueness.
These rules are the guiding principles for your brand positioning efforts. Be clear about who you are, be consistent in your messaging, and always showcase what makes you unique.
Practical Steps to Position Your Brand
Do you know what a great football coach and a successful business owner have in common? They both understand the importance of strategic positioning! But where do you start? Let me walk you through some practical steps to ace your brand positioning game.
Positioning Your Company Against Competitors
Here’s where things get interesting. How do you outshine your competitors in the business arena?
Understanding your direct competition
Identifying your competitors is like scouting the opposition team before a big match. It helps you understand their strengths and weaknesses, allowing you to discover your unique market position.
Establishing your unique position in the market
Remember, no two businesses are the same. Just as every person has unique fingerprints, your business has unique qualities that set it apart. Define your unique market position by leveraging these special attributes.
Using your competitive advantage to stand out
Your competitive advantage is your secret weapon. It’s what makes your customers choose you over the competition. Identify, amplify, and let it shine brightly in the market!
The 3 C's of Brand Development
Customer
Customers are the heart and soul of your business, right? You’d agree, wouldn’t you? That’s why they’re the first ‘C’ in the brand development process.
Understanding your customers isn’t just about knowing their names and addresses. It’s about digging deeper to comprehend their needs, desires, and problems. This knowledge helps shape a product or service they’ll love.
Consider this – have you ever wondered why some businesses click with their customers? They seem to know what their customers want, even before the customers themselves do. Isn’t that something?
The secret here lies in a profound understanding of their customer’s world. From the language they use, the social media platforms they prefer to the challenges they face daily, these businesses get it. And so can you. By taking the time to know your customers, you can craft a brand that speaks their language and resonates with their values.
Company
Now, let’s talk about you – the company. You’re the second ‘C,’ and your part in brand development is crucial. Branding isn’t just about having a catchy logo or slogan.
It’s about who you are, what you stand for, and how you want to make a difference in your customers’ lives.
Your company’s mission, values, and unique selling proposition significantly define your brand.
Let’s take Patagonia, for instance. The outdoor clothing brand doesn’t just sell jackets and vests. Their commitment to environmental sustainability shines through in everything they do – from the materials they use to the causes they support.
This clear alignment between what they do and stand for makes their brand strong and distinctive. That’s what you aim for – to have a brand that genuinely reflects your company’s essence.
Competitors
Finally, let’s not forget the third ‘C’ – your competitors. Like it or not, they’re a vital part of your brand development process. Understanding your competition helps you to carve out a unique space in your industry.
Ask yourself this, how can you differentiate your small business in a saturated market? What makes you different from the rest? Understanding your competitors gives you answers to these questions.
Knowing your competitors’ strengths and weaknesses lets you position your brand to highlight your unique qualities and advantages.
Picture yourself as a chess player, anticipating your opponent’s moves. It’s the same with competitors. By knowing their strategies, you can think a step ahead and develop a brand that stands apart.
Remember, it’s not about being better than everyone else; it’s about being different. After all, in branding, different is better than better. Isn’t it?
When to Build and When to Hire
Even the most prominent brands typically hire experts in brand positioning strategy to design new campaigns. What makes brand positioning important is its impact on the market. Your brand positioning strategy is a line in the sand – the promise you make to your target market, and it forms the map for your long-term vision.
So many business leaders consult with Valve+Meter regarding brand positioning strategies to ensure the message and marketing strategy will fully align with where you want to grow.