How to (Re)create a Solid Positioning for Your Brand
Once you come to term with how important it is to have a solid brand positioning for your business, you might want to begin the process of creating one right away. However, it can be challenging to identify a strategic position for your brand, but you need to take the pain and do it if you want your brand to stand out and want to connect with your target audience in a way that no other brand in your industry will.
Let’s briefly discuss the steps to building a brand position that aligns with your brand values and resonates magically with your audience.
1. Define Your Brand Values
According to Chelsea D’Angelo, 80% of consumers forget branded content after 3 days. Core brand values are defined as the beliefs that a company stands for and serve as the compass that guides a brand story, actions, behaviors, and decision-making process.
Your brand’s mission, vision and values build on one another and work together to build a solid company foundation. Although they’re deeply intertwined and serve as a company’s ultimate compass, brand mission, vision and values are very different.
Having strong core values will help your brand in many ways — particularly as it relates to connecting with customers and employees.
What are the values of your brand, and what are the values of your target audience? Finding detailed answers to these questions will allow you to easily communicate what your brand stands for and what differentiates you from competitors and help you build a strong emotional connection with your audience by the time you begin reaching out to them.
2. Set Business Goals
Your brand position ought to be congruent with your business objectives. Determine what it is you want to accomplish in terms of revenue, market share, or customer acquisition, and then use that information as the basis for your brand positioning strategy. This will make sure that your brand position is in line with your business objectives and assist you in achieving your objectives, By pointing you in the proper direction.
3. Do Market Research
To establish a strategic position for your business, you must first understand your target market. This is where market research comes into play. It aids in your comprehension of the needs, preferences, behaviors, and pain points of your target audience. In addition, it can assist you in determining gaps in the market and areas in which your brand can differentiate itself from your competitors. Use surveys, focus groups, and online research to compile information about your ideal customers and the competitive environment in which they operate.
4. Conduct Competitor Analysis
One of the most important things you can do to determine your brand position is to look at what your competitors are doing. Think about how you can stand out by looking at how they position themselves and how they present their messaging. Find out what makes them tick and where they need improvements so you can use that information to your advantage. This could be a comment about the products, pricing, marketing, or brand values. Knowing how you compare to the competition regarding your strengths and weaknesses will help you place your brand in a way that highlights your USP.
5. Identify Your Unique Selling Proposition
Now, talking about USPs. Your unique selling proposition is what sets your brand apart from your competitors. Identify your USP by considering what you offer that no one else does or what you do better than anyone else. Good thing you have done your competitor analysis earlier. Your USP should be a clear and compelling statement highlighting your brand’s strengths and positioning you as the go-to solution for your target audience’s needs.
6. Test and Refine Your Positioning
The first five steps will help you plan and craft a solid brand positioning.
After establishing a brand position, testing and refining your messaging is important. See how your target market reacts to your new positioning with the help of surveys, focus groups, and user testing. Use each feedback as an opportunity to sharpen your messaging and connect with your intended audience.
If you wish to be competitive, you must assess your branding strategies on a regular basis as market trends change. It is important to assess the success of your strategy. After implementing your brand repositioning statement, you should evaluate it by examining the following components of your branding.
First, your brand’s visibility should be evaluated. It is vital to determine whether your target audience can now recognize your products or brand more easily. Paying attention to consumer feedback or social media comments can help you assess whether your brand is more relevant to your target demographic.
The second factor to consider is the uniqueness of your brand. While reimagining your brand, it is vital to distinguish yourself from competitors. It’s critical to examine whether you’ve met your aim after presenting your new positioning.
Another excellent technique of reviewing your brand repositioning strategy is to solicit input from your customers. Surveys can assist you establish whether there have been any adjustments or differences in your marketing campaigns or general branding, as well as whether their opinions or sentiments about your brand have altered over time.
The third area to assess is the effectiveness of your marketing activities. Your brand positioning strategy should have an impact on your marketing initiatives, and it is critical to monitor the growth and impact of your campaigns after they are implemented. If there are no discernible improvements, it could mean that something in your brand positioning approach isn’t connecting with your customers.
Now that you’ve successfully crafted a solid position for your brand, it’s time to see how storytelling can help in solidifying this position.
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