A strong brand makes all the difference when entering and competing in any market. What comes to mind when you think of Apple? How about Google? Or Patagonia, or Nike? These are some of the world’s most prominent and influential brands, with a brand positioning strategy so powerful that they have each carved out a major chunk of the market and become household names in their categories.
Brand positioning goes beyond creating a catchy tagline or nice looking logo; it’s about communicating your brand’s unique value and establishing a strong connection with your customers. Let’s unpack the meaning, core components and advantages of brand positioning, and how it’s oh so much more than just a marketing buzzword.
What is brand positioning?
According to marketing guru Philip Kotler, brand positioning is, “the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market.” In other words, it’s the art of shaping perceptions to differentiate your brand from competitors.
By carefully crafting your brand’s positioning, you can create a narrative that resonates with your target audience and establishes an emotional connection.
Because how you make someone feel is what will make you memorable.
If we look at some of the brands mentioned above, they all have clear, effective narratives.
Patagonia has built its brand around a commitment to environmental sustainability and social responsibility. Their genuine dedication to these values has earned them a very loyal consumer base that also shares their passion for the environment.
Nike has effectively used storytelling to inspire the world, featuring success stories of ordinary people achieving extraordinary feats to reinforce their ‘Just Do It’ ethos.
Core elements of brand positioning
Without an understanding and articulation of the core elements to brand positioning, your strategy will be muddled and unclear – so it’s important to get it right from the start.
Understanding your target market
A key to creating a successful brand is understanding your audience. What are their needs, passions, attitudes and beliefs? What impacts how they might engage with your brand? Researching your target market helps paint a clear picture for why they’re in this category and how your brand is their solution. This should be an ongoing conversation to help you gain insight about how to evolve your brand to continue to meet their needs.
Analyse competitor brand positioning
You need to be aware of the market you’re entering. Study your competitors to understand how they are positioning themselves so you can identify gaps and opportunities to make your brand stand out. This is all about finding ways to differentiate your brand so you can offer something unique.
Create a unique value proposition
Your unique value proposition is the promise you make to your audience about what they can expect from your business. What sets your brand apart from competitors? Why are you different? Your unique value proposition will play a big role in any sales and marketing efforts you do.
Coca-Cola has linked its brand to special moments and celebrations worldwide with their unique value proposition centering around promoting happiness, joy, and togetherness.
Amazon has fast become the world’s largest online retailer with their unique value proposition based around convenience and efficiency, setting new standards for online shopping.
By establishing how your brand covers these core elements, your business will have a unique position and story in your customers’ minds.
Advantages of brand positioning
Working proactively on your brand positioning allows you to have control over your brand’s narrative. This will improve:
Brand recall
You will build long-term relationships with your customers. When consumers feel a strong connection to your brand and have a positive perception, they are more likely to become loyal advocates who recommend your brand to others. This can help sustain your business throughout fluctuations in the market.
Market differentiation
You will have differentiated your brand from competitors, allowing you to increase brand awareness and generate brand value, while highlighting your competitive advantage.
Emotional appeal
Businesses today have around 5 to 7 seconds to evoke an emotional connection with new customers (Forbes). If you don’t have an effective way of telling your story, your customers will move on without hesitation. A considered brand positioning strategy will create an emotional appeal with target audiences, taking the experience from transactional (buying your service because they need to), to relational (buying your service because they believe in a greater purpose behind what you do).
64% of consumers stay loyal to a brand because they share the same values.
Harvard Business Review
Brand message and identity
Brand positioning will inform your brand identity, which encompasses all visual elements, messaging, tone of voice, and overall personality. Your brand identity will also reflect your values, mission, and vision to create a story that captivates and engages your audience, making them feel connected to your brand on a deeper level.
In today’s noisy and highly competitive world, a powerful brand message is one of the few things that continues to stand out. Brand positioning should not be a one-time effort – it requires ongoing attention and review to remain relevant and impactful in the market. Investing the time into developing considered brand positioning is an investment that will always pay off in the long run.
Have you considered your brand’s position in the market lately?
At Sage PRM, we support values-led businesses to develop and improve brand positioning, creating engaging and compelling stories. Schedule a Discovery Call with us to find out how we can help you make your mark on the world.
