What is brand positioning and why is it important?
Brand positioning refers to the unique value that a brand presents to its customer. It is a marketing strategy brands create to establish their brand identity while conveying their value proposition, which is the reason why a customer would prefer their brand over others. Additionally, brand positioning is used when a company wants to position themselves in a certain way to their audiences in order for customers to create associations between the brand and its value proposition.
A brand positioning statement is an internal positioning summary that companies use to articulate and promote the value their brand brings to a target market and their customers. It is used as a way to articulate a brand’s value proposition in a succinct way. Typically, brand positioning statements are part of a brand’s larger marketing strategy - and these statements should be a balance of both aspiration and reality.
When creating a brand positioning statement, it is important to consider the following:
- Who is the target market or customer?
- What is your product or service category?
- What is the greatest benefit and impact of your product or service?
- What is the proof of that benefit and impact?
By answering these questions within a brand positioning statement, companies are distributing a clear value proposition that sets them apart from competitors, but more importantly provides their brand’s value to customers.
Brand positioning is important for a company to have a clear way to share the value their brand brings to customers. This happens both internally through a brand positioning statement and externally through various marketing strategies to which a brand positioning statement ladders up. Brands should address who their customer is and their value proposition within their brand positioning statement to maintain relevancy while being realistic.
There are various ways through which companies can create and scale out a brand positioning strategy, depending on the size, mission, and segment of the brand.
- Understand how your brand is currently positioning itself.
- Determine your unique value proposition.
- Identify your competitors and their positioning.
- Create your positioning statement.
- Evaluate and test whether your positioning works.
- Reinforce your brand’s differentiating qualities.
The above steps are intended to help brands dive deep into what differentiates their brand while illustrating the unique value customers will gain from the brand’s product or service. By focusing on what brands can offer to their target market, they can create an impactful brand positioning strategy that resonates with customers.
Let’s take a look at some iconic brands that have effectively leveraged brand positioning as part of their marketing strategy to reach their target market.