Brand Positioning: What It Is and Why It’s Important
Brand positioning is the technique of putting your commercial enterprise aside from your competition in a manner that builds desire for you amongst your goal audience. Its purpose is to partner your corporation with a concept or class withinside the minds of folks who may purchase your services.
Brand positioning is the position of a brand in the customer’s mind compared to its competitors. Positioning isn’t about creating something new or different, it’s basically about manipulating ideas and maintaining existing connections.
The more attraction they relate to your brand, the more likely they are to buy from you and not your competitors. With a variety of tactics such as competitive pricing, attractive packaging, and exciting promotions, you can attract and turn your customers into regular customers. However, to do so, you first need to determine the best position for your brand.
Importance of Brand Positioning
Brand Positioning focuses on creating the identity and relation between your business and your customers. When your product is positioned effectively, it creates a unique perception of the product in the mind of the customer when compared to your competitors’ products. It also provides other benefits along with it, such as:
Differentiate yourself from the Competitors
Through brand positioning, you can identify the key attributes and aspects that set you apart from the crowd or your competitors.
The way to acquire new clients
Developing a Brand Positioning strategy gives your business development team the ability to acquire valuable information for development and termination.
Informed and creative decisions
It is important to understand the core messages you need to communicate to your potential clients so that you can make informed decisions throughout the creative process.
Making developments and pricing decisions
By understanding how your services compare with your competitors, you will be able to decide on when and which to offer. This will be helpful to set your business apart.
Types of Brand Positioning Strategy
There are many types of positioning strategies that marketers use but not all of them work every time. Some of the strategies which are mainly used are:
Pricing your services or products is one of the important decisions to make. However, trying to be the provider with the cheapest price can be a disadvantage for your business. Using technology properly can make your business more profitable than the competition, but when it is misused, it can hinder you with less effective strategies.
This strategy focuses on providing services that are not widely available to competitors. Providing the expertise that generalists probably don’t have. If the service generates strong demand, this approach might work well as long as other competitors don’t emerge to dilute your unique “specialty”.
In today’s competitive market, this is an effective and popular way to position a professional services firm. Specialized expertise gives you the ability to measure marketing efforts closely and update your services as the marketplace changes. Having specialized in a given industry implies that your company has been working with businesses in that same industry for a long time. There are, however, risks associated with this strategy. A downturn in the economy may negatively affect your business. Furthermore, it is easy for new competitors to enter the fray and disrupt your position.
Role Focused Specialization
This strategy focuses on targeting a particular function in an organization. With this, you target a cohort of people rather than focusing on a specific industry or service. These buyers are aware that you are better suited to their needs, and they expect that you will provide them with specialized knowledge or expertise for ease of use.
Quality of Service Positioning
This is one of the most common strategies adopted by professional service companies and one of the least effective often. Marketers using messages like “We provide the best service” and “No one takes quality as seriously as we do” are too common and will not impact buyers. Of course, buyers want quality and customer service, but these qualities are on the table and are rarely used as a criterion for choosing a company.
Most professional service companies have a low market position. They believe that they can reach out to everyone and attract more customers. The wider the reach, the more companies will come to their embrace. But that doesn’t really happen. When they see shoppers looking around and spreading their arms awkwardly, they can’t go anywhere.
It is for this reason that brand positioning strategies are so crucial. By doing this you give your potential customers something to care about, encouraging them to buy from you. Due to your expertise, you will be much more appealing to your target audience than a generalist company. And you can often command more as a specialist.
If you’re looking to stand out from your competitors in the market and create the optimal and effective perception about your business, Contact BrandSicneze. You can count on our industry experts, they understand the market and which strategies to use to boost your business. Our experts know their way around the market, how your customers think, and which steps to take to get your business off to a good start.
We help brands to position themselves by providing strategic positioning consulting services that lead to increased sales, better customer engagement, and higher rates of customer retention. Our team of experts will help you create a compelling brand identity, make your marketing more effective, and develop the right positioning for your business. Contact BrandScienze today for more information about our Branding Services.
Also Read:- What is the Role of ORM in Digital Marketing?