Brand positioning is the process of positioning your brand in the mind of your customers. In order to create a positioning strategy, you must first identify your brand’s uniqueness and determine what differentiates you from your competition.
- Determine how your brand is currently positioning itself.
- Identify your direct competitors.
- Understand how each competitor is positioning their brand.
- Compare your positioning to your competitors to identify your uniqueness.
- Develop a distinct and value-based positioning idea.
- Craft a brand positioning statement.
- Test the efficacy of your brand positioning statement.
There are three essential elements of a positioning statement:
- Target Customer
- Market Definition
- Brand Promise
Key objectives of brand positioning include
Relevance: Customers must find the brand appealing. If not, the brand won’t make it into the consideration set, regardless of how differentiated or credible it is.
Differentiation: It is critical and the key driver of positioning success. The brand must be unique vs. competitive offerings.
Credible and attainable: If you cannot credibly provide the offering, the customer is left with an empty promise.
It’s critically important when developing a brand positioning strategy to deliver on all three positioning objectives at the same time. This is because brands that are highly relevant though not differentiated run the risk of being commoditized. Similarly, brands that are highly differentiated, though not particularly relevant, become niche providers.