5 Ways to Strengthen Your Brand Positioning in A Market
Branding is a word that’s commonly used in marketing circles. Like all marketing terms, branding is one of the most important concepts to learn and refine so that companies can establish a strong personality that their target consumers can identify with. Although branding is an essential part of marketing, there’s another term that’s equally as valuable: positioning.
According to Chron, brand positioning involves claiming a position in a market or a reputation for a specific product, service, or company. In essence, it’s the way a brand stands out against its competition, which allows consumers to make informed decisions about different brands offering the same products or services.
Some of the best brand positioning can be seen with large established brands. For instance, Tesla is a well-known car brand that differentiates itself from other luxury car companies. Due to their effective brand positioning, Tesla is respected for its high-quality electric cars and unique brand.
Brand positioning has a simple process. With a careful and strategic approach, it can help your brand make its mark within a market and influence target consumers. Here are 5 ways to strengthen brand positioning:
Evaluate current brand positioning.
The first step all marketers need to consider how their brand is currently positioning in their respective market. Some helpful questions you can (and should) ask during this stage include:
- Is your current brand positioning easy to understand?
- Does it encourage or hinder growth?
- Can consumers identify your brand’s uniqueness?
- Is your brand positioning focused on your consumers?
Decide which markets to serve.
An important aspect of brand positioning involves determining which markets to serve. Many marketers target local, regional, or international markets. They may group consumers based on age, gender, interests, and other factors. Of course, make sure you understand your company’s values and offerings before you decide on target markets.
Research your competitor’s brand positioning.
Once you’ve decided on a target market (or markets), it’s always a good idea to identify your competitors in these markets and assess the way they position their brands. Most importantly, you must evaluate how consumers react and connect with each competitor.
Consider how you want your brand to be perceived.
Brand positioning is how you want your target consumers to perceive your company so it’s important that key values and traits come across easily. Many marketers develop stories that combine their company’s personality and core values so that it resonates with audiences. Apple is a great example of this. Apart from their innovative products, Apple always highlights the value and quality they provide to their consumers throughout their marketing efforts.
Be open to future changes.
Remember that not all decisions are final. As a company grows or evolves, their brand position will change as well. For instance, you may revise your current brand position statement or identify a new target market to serve. Just remember to be consistent and modify all messages based on the changes.
Brand positioning can make a huge difference on the relevance and impact of a company. Once you ask the right questions, perform research, and understand your company’s values, you can effectively position your brand so that it shines through all the competition. Just remember to be open to flexibility and authenticity to ensure your brand is always connecting with audiences.