Brand positioning (sometimes referred to as a positioning strategy or brand strategy) is the act of designing the company’s offering and image to occupy a special place in the mind of the target market, and it’s a big deal!
In fact, proper brand positioning is one of most important things you can do when it comes to your brand management. A brand that’s positioned correctly addresses important consumer benefits in unique, often compelling ways. It also helps to create an emotional connection to your consumers, and provides flexibility and a framework for future growth of your business.
The first step in brand positioning is in-depth research. With this research, you’re looking to learn:
- Consumer insight(s)
- An in-depth knowledge of your competitors and what they’re up to
- An understanding of benefits to you consumer.
After you’ve found the above, dig deeper into the benefits your brand offers consumers. How are the different from other similar brands/companies? You’ll want to single out the ideal benefit, which is the key benefit that has the following three qualities: (1) it is extremely important to the target audience, (2) your organization is uniquely suited to delivering it and (3) your competitors are not really addressing it in the proper way.
There are four key components to brand positioning:
- Target customer – the primary audience your brand is trying to appeal to.
- Brand essence – the “heart and soul” of your brand.
- Brand promise – a promise of differentiating benefits relevant to your target customer.
- Brand personality – adjectives that describe your brand like if it were a person.
It’s kind of like putting a puzzle together! All of these individual components define your brand. When put together, they form your brands positioning statement which provides direction not only for marketing and the brand identity standards, but also for all of your organization’s activities and future endeavors.
