Positioning? It sounds suss!
Brand positioning. It is the big red throbbing heart of any marketing strategy. It refers to locating the right position against your competitors in the prospective buyer’s mind.
Where is that you ask? At the front, when they are ultimately making a purchase or a decision that will lead to a purchase.
How do you get there? Well, there are a number of items to be identified and discussed to ensure that the right brand building blocks are selected prior to embarking on any marketing or promotional campaigns.
Again, the journey begins with your customer’s (or ideal ones) and with hard questions like who are they and how do they consume your product or service. Understanding this often presents your service and product to you through new eyes and has been known to uncover new attributes which can be used to develop your unique selling proposition (USP).
Reviewing your competitors is also imperative. Setting up comparative reference frames by seeking points of parity (similarities) and points of difference (differences) help to establish positioning, and again can contribute to the design of your USP.
These points of parity and points of difference help to define your attributes and benefits, identifying and filling potential consumer needs and can even define the priority that they are required to be fulfilled in.
Price and perceived/actual value of the product for the price is another item that comes into play when discussing brand positioning, this particular aspect of brand positioning is best viewed when looking at and comparing the price and perceived/actual value of private label and brand labels in the ever-growing shopping wars. Many consumers will go for a trusted brand over a private label based upon product quality, others will select the private label based purely on price (not brand loyalists). This though is a whole other topic for another time!
Ensuring that you are in front of your audience regularly and consistently also plays a bit part in holding that ever lucrative position at the forefront of consumer minds, and yes, advertising done smartly can get you there in a cost-effective manner.
So in closing, I tell you, brand positioning is not suss. In fact, it is core to your brand and should be central to any marketing campaign you endeavour.
Still not positive that a brand strategy could help your business? Check out our Brand Report Card and find out more!