With thousands of brands to choose from, the modern consumer is just as likely to choose another company’s products or services, over yours, but how can you prevent this from happening?
For your brand to stand out in a crowded marketplace and occupy a unique space in the brain of the consumer, you’ll need to make sure that your brand positioning strategy is relevant, clear and desirable, among others. Let’s look at this in a little more detail:
What exactly is brand positioning?
Brand positioning is when a company entices their target audience in such a way that they will turn to your brand before any of your competitors, and an effective strategy should include the following:
- Relevance – the strategy must always be relevant to the needs of the consumer, otherwise they’ll simply shop elsewhere.
- Clarity – whatever message you’re trying to convey to your target audience, must be clear and easy to communicate.
- Uniqueness – with a robust brand positioning strategy, you can give your company a unique and credible position that’s easier to maintain long term.
- Desirability – whatever makes your product stand out over your competitors, should be desirable to the consumer when evaluating a potential purchase.
- Deliverability – whatever you’re promising your customers, must be what you’re able to deliver.
Customers should also be able to clearly see the difference between your brand, and that of your rival, with unique features that are instantly recognizable to them.
When trying to formulate a successful brand positioning strategy, it helps to place yourself in the position of your target consumer and ask yourself whether you would realistically stand out to them in a crowded marketplace.
What are the different types of brand positioning strategies?
The positioning strategy you choose for your company will typically depend upon a variety of factors, such as market conditions, the product you’re selling and it’s USP (unique selling proposition), competitors and so on. How a company wants its product to be viewed by customers in the future, is also an important consideration when selecting a positioning strategy.
Ultimately, an effective strategy complements the promise that their product makes, and the features it is said to offer the consumer.
Below are some of the most common brand positioning strategies
- Value-based positioning
These strategies position the brand based upon the value customers get upon buying their products. Think Dollar Shave Club. Their name alone demonstrates their value proposition: their low cost.
- Features-based positioning
With a lot of competition and similar products, some companies choose to focus on the more specific features of their product, such as its quality, durability or price.
- Problem and solution-based positioning
By positioning whatever it is that they’re selling, as being a single, one-stop solution for a certain problem, they can help consumers with their challenges and promote their product. Think Listerine and bad breath.
- Lifestyle positioning
In this strategy, the aim is to associate the brand with a certain lifestyle and aspirational value, as opposed to focusing on the value of the product itself. Rolex is a great example. They don’t sell watches; they sell a lifestyle.
- Parent brand driven positioning
When the brand promise and reputation of the parent brand are established.
- Experience-based positioning
To help set the brand apart from their competitors, strategists focus on developing a unique experience for the consumer. No one does this better than Starbucks. They know you can get coffee anywhere, but they sell the experience of individuality, lifestyle and community.
Brand positioning is a vital aspect of any marketing strategy and encompasses so much more than simply creating a catchy logo and tag line. Many of those businesses who have found success doing so, attribute it to hiring professional help; we’re here when you’re ready.
