Digital marketers have realized time and again that Millenials are shrewd consumers. They evaluate the value and authenticity of your brand before committing to make a purchase. In today’s age of “choice overload”, grabbing the attention of your target customers is crucial. For that, your brand has to represent your company’s values that resonate with the buyer. You need to find out your USP and use it to stand out from the competition. This is where brand positioning can help you.
Brand positioning can be called as the strategy used to create a positive perspective of your brand in the minds of your target consumers. This ‘positive perspective’ is not just going to drop into the minds of your consumers one fine day; you’ll have to position it correctly in their minds. You require a long-term plan for the growth and evolution of a public brand image in order to achieve specific goals. Rather than thinking of selling your product, you can focus on developing unique and compelling ways to benefit the consumer. Following is a step-by-step guide on how to position your brand:
The first step in positioning your brand is crafting a positioning statement. A positioning statement acts as a guide to keeping your marketing campaigns and product designs in line with your brand. It is a brief description of a product or service to a target market in a way that creates a unique impression. A positioning strategy is incomplete without a positioning statement. However, it is not a public-facing tagline. It’s how you want your brand to be perceived.
Target market research
For a positioning statement to work, you need to conduct in-depth research of your target market. This research will give you profound consumer insight. You can understand the current market competition if you identify what brands do the consumers use or prefer. You need to find out what benefits are they looking for. You can then find out the ideal benefit that is – a) most important to the consumer b) that your organization is well-positioned to deliver and c) that competitors have not touched upon yet.
Finding your USP
Today’s highly competitive market makes it difficult for organizations to identify unique differentiating points about their brand. The points of difference also need to address the consumers’ pain points. A marketer worth his salt has to strive until he finds the right combination of the unique feature of the brand and important customer needs. A thorough competitor analysis can give you an insight into what everyone else doesn’t have and you do. Once you understand the special quality of your product you can use that to convince your target audience that you are offering something that is much better than what is already out there.
Once you have found your USP, your next step is to market your product. Other than using the right advertisement techniques, the right distribution channels and optimum pricing too are an indispensable part of reaching the customer
- Advertisement: All your marketing channels – social media marketing, search engine marketing, content marketing etc. must focus on communicating your positioning statement with consistency. If you are consistent in all your brand communications, your target consumers will begin to relate to your brand as something unique. Who does not remember the exemplary marketing techniques that Apple followed? Their 1984 advertisement is still cited as an outstanding example of a marketing strategy. That single Super Bowl ad resulted in a sale of $3.5 million dollars worth of Macintoshes in a market that was dominated by IBM then.
- Distribution channels: If people living in urban areas with a well-connected public transport system form a major chunk of your target customers, then spending money on specialized transport for distributing your products in rural areas would not give you the desired results. You have to position your product close to the target market and use the right distribution channels.
- Pricing: The price of an item conveys a certain message to the buyer. Most consumers associate higher price with higher quality and vice versa. However, simply charging exorbitant amounts will not do the trick. Your product would then be unaffordable to the masses. Since you have already conducted your target market research at this point, you would have a good idea of the spending capacity of your customers. You have to find the correct balance and find your place in the middle of the spectrum.
Seek Consumer Feedback
You know who your customers are and what they expect from you. Once you showcase your product you have to find out how it was received by the target audience. Using CRM techniques, you can find out how many new consumers, social media followers and website visitors have you gained since you marketed your product. You need to keep your audience engaged through social media discussions and ask them for constructive feedback. This will help you to make improvements and tune your brand positioning strategy according to requirements.
Marketers have to agree that they cannot actually position their brand in the customer’s mind. Customers already have an idea of your brand. Whatever you do, in the end, it’s the customers’ perception that matters. So, we can say that brand positioning is an experience that is created by both the buyer and the seller.
While positioning your brand in the minds of your customers you should also ensure that every team member within your organization should be clear and convinced about your positioning statement. As a team, you should focus on bringing more fluidity in your communications to reach the desired positioning. Once you actively start positioning your brand you are in control of your brand image. That’s definitely something!
We, at Save the Robots, are experts in creating digital marketing strategies that can take your business to new heights. Need more details on this topic? Why not give us a ring? We’d love to hear from you!