Brand positioning is simply defined as the ideal place you want your brand to own in the target consumer’s mind. This involves projecting the benefits you want them to think of when they think of your brand. Maximizing customer relevancy and distinctively standing out from competitive brand is an effective brand positioning strategy and this will help in maximizing value for your brand.
In defining a brand’s positioning, it’s useful to think of the following four key components of a positioning statement:
- Definition of target market(s): Businesses exist for the consumers patronage and the entrepreneur’s profit. Defining the target market helps to know the brand being built for. This sole knowledge will help in the communication of the brand objectives and benefits to these targets. The brand message will not be lost.
- Correct Category segmentation: Every brand should ensure it is segmented in the correct category / market sector for effective brand positioning. The questions of what is the competitive context? and with which product category should the brand be associated? have to be answered correctly. This is to ensure the consumer does not associate the brand with the wrong category.
- Statement of Unique Selling Points: The target audience of your business need to know what benefits the brand stands for and deliver on. Statement of the unique selling points of your brand gives an edge over your competition.
- Reason(s) to believe: Giving your target audience a concrete reason to believe in your brand cannot be overemphasized. The quality of your brand should never be questionable and should always stand out. The proof points need to be demonstrated to gain the customer’s trust. The customer will in the long run serve as a brand ambassador through testimonials once they believe in the brand.
“You never really understand a person until you consider things from his point of view.” – Harper Lee