Defined as the space a company owns in the mind of a customer and how it differentiates itself from competitors, brand positioning is a marketing strategy that helps business set themselves apart. From cell phone manufacturers to online retailers to even nonprofits, brand positioning helps customers instantly recognize and connect with a company. One of the most important factors of success is how well, and how many, people know your brand. It’s not enough to set up a generic website and hope people flock to it by the millions. In fact, no company is able to truly thrive in the marketplace without an established brand position.
Implementing a brand position for your business all begins with a statement. A brand positioning statement is a description of your target market that also includes a holistic picture of how you’d like your brand to be perceived by customers (based on research and data).
Simply put, this statement is the who, when, where, why, and how of your brand’s identity.
With 89 percent of brand marketers concerned about creating engaging brand experiences and 77 percent of B2B marketing leaders convinced that branding is critical to growth, it is clear to see just how important brand positioning is. In addition to the critical element of customer recognition, brand positioning is important for your business in these four ways:
Any skilled marketer can develop a brand positioning strategy. The real challenge? Making it lead to real business results and resonate with your target audience.
You’ll need more than a carefully created statement. To create strong brand positioning, you’ll need research, customer data, authenticity, and flexibility.
Here are three tips to help you along the way:
From behemoth companies to growing startups, any business in any industry can benefit from brand positioning.
These three companies prove that a great story can help accelerate your brand and establish your place in the market:
Your brand positioning should be dynamic and fluid. This doesn’t mean you have to do a major overhaul every year, but you do need to revisit it at least every quarter to see how you can make it better.
Here are three ways to improve your brand positioning:
Brand positioning is the difference between being a household name or just another company trying to compete in an oversaturated market. Even after establishing your initial brand positioning, always be flexible and willing to fine-tune your statement to ensure the best customer recognition and relationships possible.
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