Every year, numerous entrepreneurs and enthusiastic youths are launching their startups and small businesses to make their distinct position in the marketplace. However, the goal of every start-up remains the same: to stand out amidst the crowd. When the demands of the customers are becoming endless, it appears to be extremely difficult to leave a lasting impression on the individuals. Here, brand positioning comes in handy and allows the brands to create prominence in the marketplace. Think of brand positioning not merely as a marketing tactic, but as the very act of strategically claiming your unique territory within the minds of your ideal customer base. To capture the attention of the targeted customer base, it is not enough to set yourself apart, but also to leave a lasting impact on their mind. Here in this blog of BeyondBrands Media, an eminent branding agency of Bangalore, we will take you on a trip to help you in identifying the latest brand positioning strategies that enable your brand to outpace others in the race. Let’s join this blog to know more.
What is Brand Positioning?
A fundamental question always lingers in the mind of the customers: “Why should I choose this brand over others?” The brand positioning here comes as an effective answer to this. At its core, brand positioning is all about creating a clear, compelling, and differentiated perception of a brand. Here comes another vital aspect, that is brand personality. Positioning of your brand is entirely dependent on the brand personality. Now you may think, “What is brand personality, or how does it shape the positioning of a brand in the marketplace?” Brand personality refers to the human-like attributes associated with your brand, and it is considered to be accountable for creating an emotional bond with the target audience. Once you are well-aware of the unique aspects attached to your personal brand, you can accordingly set a position in the market and can approach the group whose area of interest aligns with you. In today’s hyper-competitive market, if you are planning to make your brand positioning desirable, it’s important to identify the significance and every nitty-gritty aspect.
The Importance of Brand Positioning
Brand positioning always goes beyond a catchy slogan or some targeted marketing campaign. Rather, it takes into account every aspect of your brand. A well-articulated and effectively communicated brand position yields a multitude of critical benefits for businesses of all sizes, especially for those seeking to establish themselves in a competitive environment. Let’s explore the importance of brand positioning that helps to shape market identity.
Differentiation in a Crowded Marketplace:
The Indian market is already saturated with numerous options, and that’s why it appears to be extremely difficult to carve out a unique place for yourself. A strong brand position comes to your rescue and ends up making your brand memorable.
Enhancing Profitability:
A clearly positioned brand that effectively communicates its unique value can often command a premium price. Customers are generally willing to pay more for a brand they perceive as superior or uniquely suited to their needs. For the ones who are willing to maintain a healthy profit margin despite having a small business setup, we recommend focusing on visual branding that boosts the identity and paves the path for creating the best market position.
Building a Strong Brand Identity:
Consistent and effective brand positioning over time aids in creating a positive association with the customers and leaves behind an unforgettable impression. To consolidate the brand identity, increase brand awareness, which in turn will contribute to the long-term success and resilience.
Informing Product and Service Development:
Believe it or not, but your brand position is strongly rooted in understanding the exact needs of your targeted consumer base. This process also guides the process of developing new product or service offerings to strengthen your unique value proposition.
Attracting and Retaining the Right Set of Customers:
Customers are the most valuable assets to entrepreneurs, and for this reason, it is of utmost importance to attract and retain them. Effective positioning here helps to ascertain that your messaging resonates with those who truly value your brand’s uniqueness. So, gear up to craft an effective positioning strategy to get noticed in the market and to retain consumers for a long period.
Ways of Building a Powerful Brand Positioning Plan for Small Businesses
Worried about creating a powerful brand that keeps the consumers hooked throughout? It requires a multifaceted approach and encourages you to rightly understand the audience while communicating your unique values. Here are our tips to build a brand that everyone remembers.
Deeply Understand Your Target Demographics:
Sticking to the demographics is not going to serve your purpose, and it takes into account psychographic aspects to understand the values, lifestyle, aspirations, and others. To create a vivid impact in the mind of the customers, you need to dive deep into the other details.
Conduct a Thorough Competitor Analysis:
No matter whether you are moving towards a particular niche or a broader sphere, a competitor analysis is mandatory to map out both the direct and indirect competitors. During this process, you will gather valuable insights on the target market, strengths, and weaknesses. Look for unmet needs or underserved segments within the broad marketplace that your brand can uniquely address.
Define Your USP:
Now it’s time to outline your Unique Value Proposition in the marketplace so that consumers can recognise how you are going to address their problems. People may have a question in their minds, “What makes your brand stand out?” It can be anything like your mission, exceptional service, localised features, outstanding quality, and so on.
- Pick a Positioning Strategy:
Once you are done identifying your USP, it’s your turn to identify a positioning strategy such as price based positioning, quality based positioning, quality-based positioning,social media positioning, niche based positioning and others.
Weave a Powerful Brand Story:
Start weaving a powerful story for your brand that leaves the customers mesmerised once they come to know it. In turn, it evokes emotions and resonates with the aspirations.
Build Online and Offline Presence:
Last but not least, don’t forget to build an online and offline presence to get access to a larger audience.
Brand Positioning FAQs
Q1. What Do You Understand by Brand Positioning?
Brand positioning is all about delivering a unique value to the customers. It is more like giving enough reasons to the customers to choose you repeatedly over others.
Q2. What are the 3 C’s of Brand Positioning?
The 3 C’s of brand positioning include customer, competition, and company.
Q3. Which Positioning Has Coca-Cola Adopted?
Coca-Cola has connected with its audience on an emotional level, and this attribute has created a unique position for this brand in the marketplace.
Bottom Line
Building a brand is an ongoing journey, and it constantly demands the right strategy and others to stand out in the market. For startups and small business endeavours, the brand positioning offers ample advantage. All set to create a dominant presence in the market within your limited capacity? Connect with BeyondBrands Media or visit our website for more insights.
