Finding Your Place in the Business Market: What is Brand Positioning?
You may have heard many business terms and brand-related terms, which are all relevant: brand power, brand message, brand story, and — as is the focus here — brand positioning. It can be overwhelming for a business to consider all of these key brand areas to create a more thorough brand experience. You may not have heard the concept of brand positioning before and might now be wondering what is brand positioning, and why is it important for your business?
What is Brand Positioning: A Quick Definition
Brand positioning is the place that a brand has in a customer's mind. Simply put, it's where your brand stands in the mind of your target market and how they perceive your brand to stand out from any competitors.
As you can see with this definition, brand positioning is therefore essential for putting your business at the forefront of the crowded business market. An effective brand positioning strategy will enable you to be the first thought or choice for your target consumer.
When exploring what is brand positioning, you, therefore, need to think about relevant marketing strategies which will solidify your brand, get the word out about your product or service and create a brand image that will encourage trust.
How to Create a Brand Positioning that Works
What is brand positioning for you and your business? You need to encourage certain associations in the mind of your target audience so that they will think of your brand when presented with an idea, concept, or consumer need. In terms of positioning, you need to make sure your brand is in position number one as the first thought for your target customers.
• Create Your Brand Identity
In order to achieve this and further explore what is brand positioning, you first need to have a strong brand identity. If you're looking to create a distinctive impression on your consumers so that they always think of you first, then your brand identity needs to be strong enough to have an adequate impact.
• Get to Know Yourself First
You need to understand your own brand, and what your own brand offers, before you can expect your consumers to do the same. Develop your brand and explore what is brand positioning in terms of your brand, to best know what sets you apart from the competition and gives you the advantage.
Identify your brand's strengths and how this can make a difference within the market, and how it can specifically appeal to your target consumers.
• Conduct Market Research
You also need to ensure that you're exploring what your customers want. Relevant market research is imperative for formulating a brand positioning statement which appeals to exactly what the consumer is looking for. Your brand can only be relevant if you understand what your consumers perceive to be relevant to their own wants and needs. You may even want to explore a case study or two to further understand the market and what is brand positioning to your target consumers.
• Conduct Competitor Research
Carrying out competitor research is just as important as market research when it comes to branding strategies and answering what is brand positioning. You need to thoroughly understand what your competitor is not only offering, but how they're positioning themselves within the competitive market. Understanding how your competitors are exploring 'what is brand positioning' will enable you to match and beat them in the right ways.
• Explore Professional Resources
Successful branding may take the professional expertise of an experienced branding agency. Professional services will be able to help you explore your brand identity, build a strong personality, position yourself in the market and even explore additional offerings, like custom merch, custom beanies, trucker hats, custom tumblers, or other clothing. Anything you do that enables your consumers to think of you positively (such as if they've received high-quality freebies) can help grow your brand positioning in a more successful way.
Why is Brand Positioning Important?
Strong brand positioning will enable your business to better control customer preferences and wants. This means developing a much more profound relationship with your target market and fostering the sort of loyalty that comes with customers automatically being willing to purchase from your brand continually.
Once you have cemented the belief in your consumers' mind that your brand is worth knowing, is dependable and is different from all the rest, then often that is all you need to continue successfully as long as your brand remains on top and offers exceptional customer service.
What is brand positioning in terms of equity also means knowing that a stronger brand positioning will enable more worth and a higher market share.
Find your place in the business market and with brand positioning to better market your business.