Let us begin branding with a simple question: when you get hurt, what do you ask for? A bandage or a Band-Aid?
We assume it’s a Band-Aid, right? Well, that is because Band-Aid had successfully established itself in the minds of its customers through brand positioning.
What is brand positioning?
Brand positioning is the process of strategically establishing a brand in the minds of prospects through promotion, packaging, distribution, and pricing.
77% of marketers believe that brand positioning is essential for business growth, and the ones who applied it in their ventures saw a massive revenue increment by 33%.
But, how to position your brand in the market? Let’s delve right in:
- Allocate and connect with the target market
First things first, you must find out who your target audience is.
Once you have found out who you are catering to, ask a few questions from yourself:
- How am I adding value to customer’s life through my brand?
- What will intrigue prospects to buy from me?
- What is the most prominent problem they are facing that my brand can solve?
By answering these questions, you can create immense customer value and brand awareness.
- Chalk-out the strategy
It is time to put your research and knowledge to the test. The execution of a brand strategy will determine how well you know your audience.
So, here is how you plan it:
- Environmental analysis
Assess the environment that you will be operating in. What are the cultural and social values of your buyers? and find out who your competitors are? Analyze their strengths and weaknesses.
How will you approach your customers? What will your logo, coolers, attributes be? After considering these factors, design a plan and figure out your key performance indicators.
- Influence customers through an appropriate logo
People might forget the name of your brand, but they won’t forget your logo. A logo is what resembles your brand, which is why you must pay attention to its attributes.
Make sure that your logo resonates with your business operations. For example, a teddy bear logo might look appropriate on a kid apparel brand, but it won’t do well for an IT firm.
So, choose a unique blend of colors, attributes, style, and fonts for your logo that can resemble your brand and leave an image in prospective minds.
- ZERO compromises on customer security
You might gain customer attention, induce them to buy your brand, and when they visit your website, it shows that your website is un-secure to visit.
Well, your game is over right there.
To prevent this from happening, you must invest in an SSL certificate for your website.
SSL or Secured Socket Layer certificate is a security protocol that keeps hackers away from your site and protects it by encrypting the data transfer between two systems.
Your business website cannot function and rank on Google’s SERP without an SSL in place.
- Live up to your promises.
The last thing you want for your customer is an undelivered promise from your side. Making promises has become an effective marketing strategy, but it comes with a lot of risks too.
If you make a promise to your customer and then fail to live up to it, he/she will never trust you for anything.
Moreover, bad word of mouth will spread about your brand. So, to avoid it, make sure you always stay in synchronization with your delivery partners or teams.
There shouldn’t be any lapse in communication, and your product or service must be delivered within the time limit.
- Identify the “why” for your business model.
Although this step often gets overlooked, it is of immense importance; knowing why you exist gives a sense of purpose.
It gives you direction and clears the confusion. Once you know “why” you are doing what you are doing, you can create plans with ease.
The execution also becomes easy as there is a free flow of energy to fulfill the purpose. Customers, too, get attracted to brands that have a sense of belief in them.
Moreover, a purpose makes a business look authentic.
- What value does your brand bring?
As a business owner, you do not have to think from your perspective; instead, from your customer’s point of view.
You must ask, “What value does my brand bring into my customer’s life?”
By asking this question, you can channelize your business in producing products and services that provide a valuable addition to your customer’s life.
It will help you stand out from your competition and make your customers love you even more.
Moreover, it will position your brand in the good books of your customers.
- An appropriate slogan is a must.
Your prospects come across hundreds of slogans every day. It is hard for them to process them all except the ones that stand out.
Slogans define your brand in a single line and send a message to customers about your purpose, aim, and credibility.
They must be unique from the competition and should resemble your brand as a whole. Keep them as small and informative as much as you can because large slogans are challenging to process.
Thus, creating a perfect logo is necessary for every brand to tackle the competition and improve brand positioning.
- Leverage social media for brand positioning
Social media has made brand positioning so much easier than it was a decade ago. However, it isn’t a cakewalk either.
Social media has got immensely competitive with time, so you must know which platform will best suit your brand.
If you are after more likes and shares, then Facebook would work best; on the other hand, if you want to display your brand through high-quality images and robust short videos, then Instagram is your best bet.
We recommend leveraging all social platforms to derive maximum value from the digital world and improve your social presence.
- Plan your communication
Communicating your brand determines how people respond to it. Some brands prefer to communicate through TV commercials, while some rely on social media ad strategy.
However, you must stick to the one that sounds feasible to you. For that, you must identify what can represent your brand to its core.
Is it broadcast media or non-broadcast media such as YouTube and OTT platforms? After assessing your brand, create a plan to begin your communication.
Branding in 2021 is no fluke. Given the ever-increasing competition, it will get even more competitive by the day.
Thus, having an appropriate plan in place is a necessity. By following the ten steps given above, you can create an effective brand strategy and position your brand in your customers’ good books. Reach out to me and I will be more than glad to help you out in your marketing and branding strategy.