You may be vaguely familiar with the idea of brand positioning—the name is fairly intuitive, after all—but do you know exactly what it means? Have you ever wondered how you can possibly turn your company into a force to be reckoned with amongst your competitors while building authentic connections with consumers? Buckle up, because we’re breaking down one of the key factors in achieving that kind of success.
What is Brand Positioning?
On a basic level, a brand position is the niche your brand occupies in the minds of consumers—a little piece of mental marketing real estate. A strong positioning strategy takes into account factors such as the product or service your company provides, your brand message, the target audience you want to reach, what sets your brand apart, and what the consumer gains from using your service or product. Examining these key points allows you to set your brand up for success and future growth. Here are a few essential terms that you should be aware of when evaluating and updating your company’s positioning strategy.
Your target audience is the demographic your brand is trying to reach. These are the people who you want to be aware of your brand. Beyond just being on their radar, your brand should stand out to them for having a specific voice and tone, as well as distinct advantages over similar competitors.
How will you relate to and communicate with your consumers? Brand personality consists of human characteristics that allow people to identify with brands. The five most common personalities are excitement, competence, sincerity, sophistication, and ruggedness. The key to owning your brand personality is to tailor it to the typical characteristics of your target audience, because customers are more likely to purchase from brands with similar personalities to their own. Maintaining a consistent brand personality across all channels, from the top to the bottom of your organization, will allow you to solidify your brand’s position.
At the heart of your company should be a key message that encompasses the purpose of your brand, uniting your product or service with a relatable statement to be communicated to consumers. You can also think of this as a brand positioning statement, meant to be used internally to guide your company in the right direction. What does your brand stand for? What differentiates it within your industry? Your message should succinctly state what you do and why you do it, and it should lead your company to produce a vision for potential customers of where you fit into their buying habits and brand loyalties.
Why Does it Matter?
So, why exactly does brand positioning matter in the day-to-day operation of your business? To put it simply, creating a strong brand position is the key to capturing your target audience and improving your company’s performance.
Grow Brand Recognition
Brand positioning and brand recognition go hand in hand. The end goal, after all, is to capture your desired demographic—and you’ll need to rely on both concepts to accomplish that. When you execute a positioning strategy and appeal to a target audience, increased brand recognition will follow. In return, growing brand recognition will serve to further entrench your brand in the public psyche. You can put this cycle in motion using a variety of strategies and tools, such as social media platforms, pay per click campaigns, and traditional advertisements.
Increase Brand Equity
A strong brand position can positively impact brand equity, or the value generated from consumer perception of a brand name. Just for a moment, think of the concept of brand positioning in terms of geography. Imagine that you’re planning to open a luxury resort. You’ll see a huge difference in your resort’s success if you locate it in Miami versus in Antarctica. That’s because your business’ location (tropical) and purpose (relaxing getaway) complement each other and make sense.
Now, apply that logic to a brand positioning strategy. A powerful brand position will match up your company’s practices with its values and message—everything will fall into line and make sense, and consumers will be able to tell exactly what they’re dealing with and whether your brand is right for them. When your brand is positioned correctly, it will appeal to your target audience. In turn, your products can come to occupy a space in the collective public consciousness. And the more your brand is recognized and thought highly of by consumers, the greater your brand equity will be.
Make Your Marketing Strategy Sing with Snap
Feeling a little lost when it comes to finding the perfect space for your brand? Give us a call! The experts at Snap are looking forward to helping you define your marketing goals and set your strategy up to succeed. With our range of SEO, professional web design, and social media marketing services, we’re ready to make your brand stand out!