Brand positioning is the process of assuming or acquiring a unique stance or space in the minds of your market audience. It is a marketing strategy that ensures your brand stands out and stands tall. There will always be competition, but brand positioning is a way of putting it to bed. When you are top on the minds of your target, you remain a leading brand in your niche.
Let’s guide you on all things brand positioning:
Importance of Brand Positioning
Brand positioning is essential for your business cause it makes you the first choice in the world of choices. Half of the time, when consumers mention products like "Indomie," they might refer to instant noodles. But the first choice is Indomie, and I will only take others if the first choice is not available. Indomie's brand positioning has made it possible to achieve this goal.
Brand positioning also helps to clarify your marketing efforts. There is a level of consistency that is popular with any brand with good positioning. Customers know what to expect. When those expectations convert to the right experience, you have the customer's satisfaction. A unidirectional flow of efforts also helps to actualize your brand's value and goals.
Brand Positioning Strategies
If you are new to the market, your goal is to become a rising force, hoping to leave a print on people's minds. It is different if you are old in the niche; your goal is to keep your brand in its leading position.
Here are some brand positioning strategies to guide your efforts and marketing plans:
Price-Based Strategy
A price-based strategy is when you position your product or services as the most affordable. Your brand can pride itself in delivering cost-effective services to consumers. The best part about this strategy is the dynamics.
For some brands, it is about providing the product at the best prices using competitive pricing. Other brand strategies lie in removing any extra cost by way of delivery. These strategies include reducing delivery costs or offering free after-sales services such as installation and maintenance.
Note that there has to be a standard cost management system, economies of scale, and competitive pricing for this strategy to remain profitable for a long time.
Quality Based Strategy
Brands build a reputation around the quality of their product and services. This strategy allows them to position the brand using the superior quality offer as a point of sale. Words like functionality, luxury, and durability come to mind when these brands' names come to the fore.
You attract high-end customers who take pride in quality products. The high cost matters less. You aim to attract those who will pay more for assured quality. Apple is a perfect example of companies that uses quality-based positioning. Their products come at a premium, but the quality of these products serves as motivation for customers.
Competition-Based Strategy
In this strategy, a brand calls out a specific competitor in the market and declares its superiority. It is a bold strategy but could come with much success if it is successful.
A common example is the "Pepsi Challenge" challenge. Pepsi challenged Coca-Cola's product and positioned itself as a worthy leader in the industry. It was a great strategy.
As a brand, you can pitch yourself against a leading brand in your niche. It shows your boldness and confidence in your product. When you compete with the leading brand while offering incentives, it helps boost your brand.
Social Media Based Strategy
In the latest report, 77% of consumers prefer to purchase products from brands they actively follow on social media. That is the power of social media in today's social market.
Consumers' behavior is shifting towards online purchases using reviews, comments, and influencers. You can use this to your advantage. The social media-based positioning is not exactly a separate strategy.
It can be a tool to boost your other positioning strategies. It is a fast and effective means to showcase your brand identity, keep your brand in the trend, and keep the business alive.
Customer-service Strategy
A bad first experience can become a loyal connection when great customer service is in place. You can create a reputation as a brand known for its care and attention to customer's needs.
Consumers often feel more satisfied with personalized user experiences. It shows that the brand is not just interested in making products or offering services; they are also interested in the users.
According to Khoros, 83% of customers remain loyal to the brand simply because of their excellent customer service. Your brand positioning can remain strong with top-tier services that foster human connection.
Convenience-based Strategy
A brand can base its positioning strategy on offering convenience to users and customers. This strategy highlights the ease that comes with using the products. It includes location spread, availability and access, multiple platform support, and the like.
This strategy is most effective when your market is filled with busy customers racing to beat time. By offering convenience, you remove the stress factor from their user experience.
Note that this list does not exhaust all the positioning strategies available. The right strategy or combination of strategies requires market understanding. Hence, there are practices to help you develop these strategies.
Practices to Developing Quality Positioning Statement and Strategies
Here are some of the practices to help your brand:
Read, study, and understand your market and target audience. Understand their choices, habits, way of life, and needs.
Evaluate your competitors' strategies to meet those needs and find innovative ways to make a difference.
Clarify your brand essence and values, and design your brand identity to align with those values.
Establish a consistent tone across all messaging channels, including emails, social media, and online advertisement.
Map out your long-term vision and highlight the strategies aligning with those visions.
Final Thoughts
A pair of shoes with no markings is just that: a pair of shoes. But with the Nike logo on its side, it becomes a valuable piece worth more with more demand and appeal. That is what brand positioning gives you.