What to Include in a Successful Brand Positioning StrategyFeb 23, 2023
Brand positioning strategy encompasses far more than mere aesthetics. While getting the look and feel of your website, email signature, logo, and marketing materials right is essential, this should never come before working out who your company is and what it stands for.
After all, over 95 percent of consumers say they are happy to remain loyal to a transparent brand. And transparency here means they understand why the brand makes its decisions on products, supply chain, employment, and even politics.
But how do you work out something as seemingly ephemeral as brand positioning? Here are some ideas to get you started.
Complete a Brand Positioning Audit
You cant formulate a stellar brand strategy without knowing where youre starting from. New and existing businesses can benefit from an audit.
Consider these questions:
- Whats your niche?
- Who are your existing customers (or desired customers)?
- Are your products or services unique?
- How do people interact with other companies in your niche?
- How do your customers interact with you now?
If you already have them review your company goals, mission statement (more on that below), and brand voice.
Define Your Target Audience
To stand out from your brand competitors, you need to know exactly who your products and services serve. Who are the people buying from you (or you want to buy from you), and why should they choose your offerings over everything else on the market?
Spend some time researching your target market in depth. This includes:
- Demographics (age, gender, location, income, employment, and more)
- Buying behaviours
- Social platforms
- Media consumption habits
Once you have as much data as possible, create two or three buyer personas.
Understand Your Competitors
A useful brand strategy should examine your competitive advantage in the marketplace. And to establish this, you need to know whos crowding you out.
First, identify which companies your customers are buying from now and which make similar products or offer similar services to your own. Then, use tried and tested tools like the SWOT analysis method to determine how you stack up against your competitors.
Have a Clear Mission
While mission statements are standard business practice, few companies take the mission part of the statement as seriously as they should. That all-important consumer perception of your brand hinges on whether or not your mission is believable, relevant, and honest.
Why is your brand different? What does your company hope to achieve in this world? And how are you going to get there?
Formulating a Brand Positioning Strategy: The First Step to Greatness
Creating a brand positioning strategy should be your first step before tackling anything else in your business. Think of it as your pirate map to the buried treasure: a thriving company.
Do you need help figuring everything out? The team at Infinite Design House has years of combined experience in helping Canadian companies, big and small, get their branding right from the start.
Take a look at our services and schedule a chat today.