Developing a consistent brand image has been shown to increase revenue by up to 23%. Simply by establishing a clear and consistent brand positioning strategy, your business can increase clientele, increase revenue, and optimize all marketing efforts.
Developing a brand positioning strategy requires conducting market segmentation and defining your target audience. After that, you can move on to the most critical and powerful component of your overall marketing strategy — positioning.
What Is Brand Positioning?
Brand positioning is called the process of deciding how you want your customers to perceive you.
When you’re selling products or creating content, you’re almost certainly hoping to elicit a certain emotion or affinity. As a result, you’re attempting to position your brand in a particular manner.
Brand positioning entails much more than the creation of a logo or jingle. When done correctly, it can help you differentiate your business from every other competitor, even if your products are more or less identical.
Importance of Value-Based Brand Positioning
The critical point to remember is that positioning is less about product attributes and rational features than it is about perceptions and your ability to control the narrative that consumers associate with your business.
With a well-defined brand positioning framework, your business can communicate to consumers why you’re unique. By differentiating yourself from the competition, you can strengthen your relationship with current customers. Additionally, it can reassure your business that customers will prefer your product over a competitor’s product.
What Is the Importance of Brand Perception?
As with strong brand positioning, a strong brand perception can contribute to your company’s success. It’s more than just selecting the appropriate keywords or adhering to user intent.
If you associate your brand with positive characteristics that your target market values, you increase the likelihood that your target customers will purchase from you. As a result, you increase sales and profits.
When your customers are presented with the option of choosing between your company and another, they make mental notes about what they know about each. Whether deliberately or unintentionally, that individual chooses which company to purchase from based on these mental notes.
How to Develop a Value-Based Brand Positioning Strategy
1. Describe the consumer segment and their needs
To effectively position yourself in the market, you must first understand your target audience. Who are your ideal customers and why?
After you’ve defined your buyer persona, you need to consider the values that these individuals hold dear. What characteristics are they looking for in a business? How can you demonstrate to them that you possess these characteristics?
By appealing to your target market’s beliefs and core values, you can grow closer to those whom your business is attempting to reach.
2. Establish the Brand’s Essence
To define your brand’s essence, you must address the following questions:
- What emotion will your brand arouse in people? What is the very first thing they will consider when it comes to your brand? Consider this. Consider how you want people to perceive your business.
- How and when would people be compelled to use your brand?
- How would your brand benefit the life/work processes of your target segment?
Once you’ve answered these questions, you’ll be able to determine why people would choose your brand and product based on their value system.
This is simply referring to your brand essence. It refers to the general thoughts, feelings, and emotions that people have about your business.
3. Highlight the Functional and Emotional Benefits of Your Brand
Following that, you must ensure that you understand your brand’s functional and emotional benefits. More precisely, you should consider the functional and emotional benefits that your brand will provide to your customers.
The more you consider how your customer feels and what they gain from your business, the more aligned your brand positioning will be. The trick is to always keep your eye on the customer and their perception of your brand.