What is brand positioning? Six common types of brand positioning strategies for your business
One of the marketing terms that carries the most weight and causes the most confusion is brand positioning. Although it may sound like an easy strategy to implement, much of a brand’s failure comes from its poor positioning and communication strategy. This leads to ‘brand positioning’ becoming an important factor for the success of every modern business.
What is brand positioning?
Brand positioning is the perception of a brand that someone has in mind. That includes all of the features and characteristics that are perceived of it.
A good brand position allows your business to stand out from your competitors and is crucial to the value placed on your business. It’s important to be aware that this is something that is built between the interaction of the brand and the consumer. As a brand, you may have an idea of what you are and what you want, however, without a good strategy, you may not be perceived in the same way. Ensure to follow the fundamentals of the brand positioning strategies and factors to help you stand out outlined below.
Six common types of brand positioning strategies
First of all, when it comes to brand positioning, consider this: if what you want is differentiation, don’t copy!
Mind you, there are several types of brand positioning strategies that are useful as a starting point.
1. Attribute: the objective is to position yourself through a different and unique characteristic that your brand features.
2. Benefit: focuses on highlighting the benefits provided by your product and/or service.
3. Value-Based Pricing: focuses on the value you provide for the money the client spent. It is a strategy widely used by luxury brands.
4. Competition: focuses on the comparison with competitors, communicating the factors that make your brand better than the rest.
5. Convenience: your positioning strategy emphasizes the moment of use or the form of application.
6. Lifestyle: this strategy focuses on positioning yourself according to the lifestyle of your target audience. It is a powerful differentiating factor since people tend to feel more related to a brand that shares their interests.
The 4 factors that will help your business to stand out
Once you determine the type of positioning that best fits your brand, it is time to consider how it will stand out. A good brand position will generate engagement and loyalty, which will be the beginning of the value chain for your brand’s business. There are a few factors to consider so that your business becomes a success.
- Relevance: an important factor to take into account when working on brand positioning is to communicate relevant aspects to your target audience. Communication should focus on the interests and needs of those who follow you, offering them useful content that satisfies their needs.
- Credibility: consumers don’t believe anything easily, as they are in constant search for information and knowledge. To generate good results, you must offer credibility and authenticity in everything you communicate.
- Differentiation: it is important to not only highlight what you do and who you serve but how do you do it differently? You really want to create a focal point around your unique offerings.
- Focus: your brand must be focused on providing clear communications. Simply look out for your own interests… and those of your target market too.
Final thoughts on brand positioning
Marketing is constantly growing and evolving and requires proactive listening to the demands of the market. A strong brand position that is honest, useful and sustainable will be what determines your company’s success.