DIFFERENTIATING YOUR BRAND THROUGH POSITIONING
When we talk about positioning, it is something more than merely occupying space—in the world of contemporary consumerism it refers to making an impact, inducing a recall and engagement value in the minds of consumers. A well-positioned brand can give you a competitive advantage as it aids in differentiating your brand, helps attract your target customers and ultimately helps win market share from your competition.
What is Brand Positioning actually about?
Industry experts like to call it the psychological effect of a brand. Brand positioning is about making your customers identify with your company and the ideal situation is to create a unique or positive impression about your brand in the consumer’s mind. The sheer essence of how the market perceives your Brand often develops brand positions. The target is left to determine their own beliefs towards the brand and this is usually decided through their own experiences with the brand. So if you plan on working on your company’s Brand Position, make sure that your brand position engages your consumers so they can identify what the brand stands for relative to your competitors so that you build credibility and an instant sense of trust.
Why is it important?
The reason is simple—from overtly aggressive media, intrusive all-round advertising, explosion of social media interactions, and online retailing, the consumer’s mind is bombarded with information. This makes buying behaviours volatile, more un-loyal and therefore, more likely to deviate so spending time to differentiate yourself is critical if you want to retain and continuously attract customers!
5-steps to determining your brand position:
- Determine the current position of your brand in the marketplace
- Identify direct competitors
- Understand your competitor’s brand positioning
- Identify your uniqueness by comparing your brand position to that of the competitors
- Develop a value-adding and unique positioning idea along with a positioning statement that you can own over time
Difference between Brand Positioning Statement and a Tagline
Most people confuse brand-positioning statements with taglines. So, it is important to clearly distinguish both – a positioning statement is meant for internal use and helps you in making key decisions that will affect the customer’s perception of your brand in some manner. Taglines are used for external marketing efforts wherein you turn the insights from your positioning statement into a catchy, easy to recall phrase.
Some examples of taglines include:
- Adidas: All in or Nothing
- Mister Transmission: Hey Mister, you’re a friend of mine.
- Chateau Le Parc: An Artisan Experience
- Ford: Go Further
- NGEN: Moving Brands, Driving Results
For your brand’s position to be impactful, it will need to stand for something that you can own in the hearts and in the minds of your target customers. This may take time, but if executed properly, this position will help you take a leadership position in the marketplace.
-Joe Grasso/ Founder, Managing Partner at NGEN