Have you ever thought about how your customers perceive you and what sets you apart from your competition? No? Then it’s about time you do!
But let’s start with the basics - a brand is a personality that identifies a company, a specific product or a service. It is much more than a logo, a tag line or a sales slogan. To read more about branding, head over to this article here.
Building the foundations first is crucial. Start by defining your brand, before you begin with your brand positioning.
So what is brand positioning and why is it so important?
Brand positioning is the process of establishing your brand in the mind of your customers.
Often brands believe they know how they are perceived by their target market. But often, there’s a discrepancy between how the brand perceives itself, to how the customers actually see them.
You should speak to your customer segment and find out. Target customer interviews are incredibly helpful to understand, how your brand is seen and positioned amongst your competitors. Asking a specialist outside your company to hold these interviews for you and analyse the key findings is crucial in understanding how you are perceived. He or she will be unbiased and will give an honest interpretation and representation of your position.
Once you have gathered key attributes that define your position, see if they match:
the place where it’s sold
your brand marketing
your promotion strategy
If these key points are aligned and are cohesive, it will give your brand credibility and authenticity.
Continue to refine your position by picking one main feature about your brand, product or service that will differentiate you from your competitors.
As an example, look at the way sport shoe giant Nike focuses on empowerment of their customers. Their tag line “Just Do It” says it all. Nike focuses on innovation for serious athletes to help them perform at their best. Their mission statement “If you have a body, you are an athlete”, suggests that anyone can be an athlete - and be a winner in their sport, if they wear Nike trainers.
Remember - brand positioning is a vehicle to differentiate your brand from all the others.
Nurture it and tailor your marketing efforts around it. Weave it into the fabric of your product offering, how it’s being sold and at what price. Every time a customer comes into contact with your brand or product, your positioning needs to be tangible to them.
Putting effort into correct branding and positioning will pay dividends. It takes time and money to develop them - however, if you align your marketing and promotion with properly defined branding, positioning and strategy, the money you spent on marketing will be targeted and effective. The returns will exceed the investment.
Are you keen to find out more? Then get in touch for an informal chat about you and your brand.