Brand Positioning is the process of defining your
Unique Value Proposition in relation to your competition.
WHY IS THIS IMPORTANT?
It helps to establish your brand’s identity and differentiation in the marketplace.
To develop your Brand Positioning, we guide you through 3 important steps:
- Analyzing your competition
- Uncovering your brand’s Features & Benefits
- Writing a strong Positioning Statement
Developing a strong Brand Positioning can have a significant impact on success. It can help attract and retain customers, increase brand awareness, and drive long-term growth. It should also help guide all decisions for your brand, from new product development to marketing and communications.
STEP 1
Analyzing your COMPETITION
Conducting a Competitive Analysis involves researching and analyzing the strategies, products, and services of other brands in your market segment.
This analysis can help you identify your strengths and weaknesses in relation to your competitors, as well as uncover opportunities for growth and improvement to help your brand to stand out.
When researching competitors, gather information about their social media, website, marketing & advertising efforts, as well as customer reviews and feedback. This information can help you identify your target audience, pricing strategy, and overall brand positioning to set you apart.
STEP 2
What are your brand’s FEATURES & BENEFITS?
Features and benefits are both important aspects of your brand, however, they are different things.
Features are the physical or tangible aspects of your product or service. For example, a nut butter’s features might include: the ingredient list, nutritional certifications (ie: organic, gluten free), or crunchy vs. smooth consistency.
Benefits, on the other hand, are the advantages or value your product or service provides. For example, the same nut butter provides health benefits to the consumer: a convenient source of protein, rich in vitamins and minerals, or a healthier alternative to sweets for your kids.
It’s important for you to be able to clearly communicate both features and benefits to your target audience. Features are important because they help consumers understand what they are getting, while benefits help them understand how the product or service will meet their needs.
STEP 3
Write your POSITIONING STATEMENT
A positioning statement defines your brand’s Unique Value Proposition and communicates how you are different from the competition.
By using the information gathered in your Competitive Analysis and knowing who your Target Audience is, you can write a clear and concise statement that communicates your brand’s Unique Value and how you are different. This positioning statement should be no more than one or two sentences and should ultimately answer the question:
“Why customers should choose your brand over others?”
The information uncovered during our Brand Strategy process influences the visual part of your brand. That’s when the creativity happens!
Up next – THE PSYCHOLOGY OF COLOR – and how it affects the behavior of your customers.