Brand positioning is the lens through which a target market perceives a product. Precisely executed, it obliterates the competition by becoming the first choice for their unique customer base.
What is brand positioning and why is it important?
In a global village, positioning is what sets a product or service apart from thousands if not millions of similar fare. By identifying key stakeholders, you are able to hone your brand’s image so that their perception of you meets and exceeds their expectations.
Positioning a brand is an internal statement, a guiding principle that is the source for the overall marketing strategy. It defines the core target audience, their needs and how you are able to fulfil those needs. By knowing your target market intimately, the savvy marketer will be able to paint a picture that aligns with their values and mindsets.
5 Keys to Positioning a Brand
1) Become Instantly Recognizable to Your Target Market
Focus all branding on a trigger phrase or specific concept that sets you apart from the competition. Make sure that this branding is relevant and true for your target market. A brand with a purposeful and strong branding focus is immediately differentiated from its competitors in the mind of the consumer.
2) Sell Your Unique Selling Point
Let’s get back to basics- what sets you apart will elevate your brand positioning.
3) Align Business Values with Brand Positioning
Build credibility and trust by being true to the business’s core values. Nothing scares consumers away faster than a flaky brand. Unify the brand position and the business vision.
4) Set Achievable Branding Goals
It is important to set goals which are measurable and that have a set time frame in which they must be achieved. This way the branding is always developing and staying relevant for the consumer.
5) Consider the Branding Budget
When setting the branding goals, consider the budget. Penetrating an established market requires time and money. Ensure that the budget can sustain your brand position goals.
Do you have a Fintech brand, or technology brand, join other popular tech brands on Tech Directory.
