Consistent brand image development has been shown to increase revenue by up to 23%. Simply by implementing a consistent and clear brand positioning strategy, your business can increase clientele, revenue, and optimize all marketing efforts.
Conducting market segmentation and defining your target audience are necessary steps in developing a brand positioning strategy. Following that, you can focus on the most critical and effective component of your overall marketing strategy — positioning.
What Is Brand Positioning?
Brand positioning is the process of determining how you want your customers to perceive you.
When you sell products or create content, you almost always hope to elicit an emotion or affinity. As a result, you’re attempting to establish a specific positioning for your brand.
Brand positioning entails far more than simply developing a logo or jingle. When done properly, it can help you differentiate your business from competitors, even if your products are nearly identical.
Why Is Value-Based Brand Positioning Important?
The critical point to remember is that positioning is about perceptions and your ability to control the narrative that consumers associate with your business, not product attributes and rational features.
Your business can communicate to consumers why you are unique by developing a well-defined brand positioning framework. By establishing a distinct identity from the competition, you can strengthen your relationship with existing customers. Additionally, it can reassure your business that customers will choose your product over one from a competitor.
Why Is Brand Perception Important?
As is the case with strong brand positioning, a strong brand perception can help your business succeed. It entails more than simply choosing the right keywords or adhering to user intent.
By associating your brand with positive characteristics valued by your target market, you increase the likelihood that your target customers will make a purchase from you. As a result, your sales and profits increase.
When customers are given the choice between your business and another, they make mental notes about what they know about each. Whether intentionally or unintentionally, that individual makes purchasing decisions based on these mental notes.
How to Create a Brand Positioning Strategy on a Value-Based Framework
1. Identify the consumer segment and their corresponding needs
To position yourself effectively in the market, it is necessary to first understand your target audience. Who are your ideal customers and why are they your ideal customers?
Following the creation of your buyer persona, you must consider the values that these individuals hold dear. What qualities do they seek in a business? How are you going to convince them that you possess these qualities?
By appealing to the beliefs and core values of your target market, you can develop a stronger connection with those whom your business is attempting to reach.
2. Create a sense of the brand’s essence
To define the essence of your brand, you must answer the following questions:
- What emotion will your brand elicit in your audience? What is the primary factor they will consider when evaluating your brand? Consider the following. Consider how you want your business to be perceived.
- How and when would your brand compel people to use it?
- How would your brand benefit your target segment’s life/work processes? What specific changes will be made?
Once these questions are answered, you’ll be able to determine why people would choose your brand and product based on their value system.
This is referred to as the ‘essence of your brand.’ It refers to the general attitudes, feelings, and emotions toward your business held by the general public.
3. Emphasize the functional and emotional benefits of your brand
Following that, you must ensure that you comprehend the functional and emotional benefits of your brand. To put it another way, you should consider the functional and emotional benefits that your brand will provide to your customers.
The more you consider your customer’s emotions and the benefits they receive from your business, the more aligned your brand positioning will be. The trick is to keep an eye on your customer and their perception of your brand at all times.