How to strengthen your brand positioning
We’re all aware of the biggest brands before we’re even old enough to question them or acknowledge why we’re aware – Coca-Cola, Nike, Adidas. But how? The answer, more often than not, lies in brand positioning. It’s what sets you apart from your competitors, and it can be the difference between success and failure. Brands that have their positioning nailed down see an average revenue increase of 10-20%.
Brands like Coca-Cola are so well positioned in the minds of their audience that their product name becomes a synonym for the actual product or service. How often have you asked for a Coke instead of a Pepsi or a soda? It was the same for Hoover – not many people refer to their vacuum cleaner as that but instead refer to it as a Hoover.
However, your brand can shift over time as you bring out new products or services. As a result, it may become distorted or move out of line with your overall strategy. That’s why it’s critical that you re-evaluate and strengthen your brand positioning over time to continue to hit the outcomes you set out in your vision.
While repositioning your brand is quick in your own mind, it takes time in the eyes and minds of your customers. They will want the old, not the new. They will remember your old prices and still have you evaluated in the same place as before.
To strengthen your business positioning, we need to look at the following: brand personality, value proposition, ideal customers and their personas, and your brand story. Your brand positioning will allow you to set yourself apart from the field, drive awareness, communicate value, and justify the pricing. Let’s delve into how we can do that.
Whether you’ve worked on your tone of voice or not, your brand personality is one of the keys to unlocking your audience. Your brand personality is what your customers, B2B or B2C, will come across before anything else. So whether that’s a website landing page, blog or whitepaper, your brand personality will need to shine through.
It’s also what helps an audience tell the difference between competitors. Using Coca-Cola as an example again, their advertising is in a different postcode to Pepsi’s. That’s because their personalities are so different, as is their brand positioning, vision and strategy: similar audiences but totally different mindsets.
Your brand personality is made up of your tone of voice, landing pages, website, email, social posts, and every point of contact your audience will have with your business. This makes it absolutely crucial that you work hard on this with the help of copywriters, marketers, and strategy specialists, as personality can be the difference between a warm lead or no leads at all.
Creating a value proposition that speaks to your customers is a significant step in positioning your brand as the go-to option in your industry or market. The value proposition of your business is what will define what you promise to deliver to your customer, meaning it overarches everything that you do.
Value proposition can’t be created overnight, either. It takes strategy, planning and time to get it right. This involves explaining what the product or service solves, how it can bring positivity to an individual or business, and what it improves. You can create a value proposition on a basic level, simply covering the features and benefits of a product or service. However, you run the risk of turning this into a commodity with no actual market share.
To improve brand positioning with value proposition, it’s crucial that you get to the root of your product or service and really define what problems you solve and how you make a customer’s life better. It’s also not about what your competitor provides – although you should always keep half an eye on them. Instead, value proposition is a crossover of what your user really wants and the value that your product or service provides.
Before you know how to position your brand in the minds of your audience, you first have to know them. This involves the buyer personas and ideal customer profiles (ICPs) that you created as part of your marketing strategy. You have to be positioning yourself to someone, and to do that you have to know them inside out.
A great place to start is by hanging out in the communities in which they congregate and watching their language, interests, hobbies, likes and dislikes. By doing this, you can begin to build a picture of the type of person you’ll be positioning yourself to. Working out what’s important to your audience gives you the best chance of positioning yourself as the foremost brand in their minds.
Similarly to creating a brand personality, telling your brand story can make your business more friendly, human and relatable. People buy from people, as the saying goes, and telling the story of how you started, how the idea for a product or service was conceived or how your culture is worth buying into can help you stand out in a saturated market.
Shared values have become increasingly valuable today as customers seek to purchase from companies that they understand and can relate to in times of uncertainty.
To achieve those outcomes, though, the key is in the consistency of your brand positioning. Your tone of voice must remain consistent throughout; your comms, strategy and vision have to be consistently stuck to for any traction to be gained.
Value propositions and brand positioning aren’t a silver bullet to growth; they’re cogs in a machine. You need to supplement them with the fundamentals of a sales ladder, a sales engine and a pipeline.
If you want to get your business in front of more customers to increase revenue, contact our MD, Hayden Jones.