Brand positioning is a marketing strategy that helps a business stand out and carve its own place in the market and in front of their target audience. One of the driving factors for business success is how well, and how many people are familiar with the brand. From big corporations to online stores and even non-profits, all use brand positioning to help customers instantly recognize and connect with the brand.
You can’t expect to simply set up a website and have traffic coming in. In today’s world, no company is able to thrive in a market without an established brand position.
What Is a Brand Positioning Statement?
Defining a brand position for your business starts with a clear statement. A brand positioning statement is a description of your target market alongside a clear image that your brand wants to project to its audience. This statement answers the who, when, where, why, and how of your brand’s identity.
The Importance of Brand Positioning
Data indicates that brand positioning plays an important role in their strategies with 9 out of 10 brand marketers focused on creating engaging brand experiences and 77 percent convinced that branding is vital to growth. Beside the critical element of customer recognition, brand positioning is important for a business in these four ways:
Market differentiation: Highlighting how your product is unique and can fulfil the consumers’ needs creates a competitive advantage. Leverage your brand positioning to showcase how your product solves a particular problem differently than your competitors, and generate interest from your prospective customers.
Easy purchase decisions: By providing a clear explanation of your product and where it excels, you make it easy for customers to make their decision. Give customers answers to their questions and it will be quicker for you to gain their trust.
Value confirmation: A strong brand doesn’t have to compete mainly through its pricing structure. Instead, with a strong brand position you already establish the value of the product, making customers want to buy it, regardless whether it’s the cheapest alternative on the market.
Magnified messaging: A clear brand positioning statement gives you a springboard for compelling creative storytelling. By having a well-defined vision, you can model each piece of content and marketing to further establish your place in the market.
From established corporate brands to growing start-ups, any business in any industry can benefit from brand positioning.