Brand positioning is essential for your business to flourish as it helps in reaching out to potential customers and create an image in their minds. It is quintessential for you to convey your organization’s mission, vision, and core values to your customers.
Remember the below-mentioned tips to improve your brand value
- Know your target audience
Know the customer requirements to begin with an effective brand positioning strategy. Understand their interests and activities they engage in. You must be clear about your brand’s mission, vision, core values and persona that should be in line with your target customers.
Carefully segment the consumers on the basis of demography, lifestyle, geographic location and purchase patterns. However, too much segmentation is not beneficial for your brand. Thus, you must strike that perfect balance of the correct number of consumers in each segment.
Tip – Have a concrete plan and set benchmarks to track your performance.
- Determine your competitor’s position
After successful segmentation, you must analyse your top competitors and their strategies. Identify their strengths and weaknesses for a detailed study. Highlight the benefit/s offered only by you and not prevalent in any product/service. The benefit should be relevant to your target audience and consistent with your brand’s personality.
Communicate your brand’s success story which is unique and easily relatable with your consumers. A branding & marketing agency can assist you in your analysis of your competitors. The bottom line is to carve out a niche audience for your brand that is not targeted by anyone else. You can do this by combining the best traits of your competitors.
- Connect emotionally with consumers
Listen carefully to your customer’s needs and understand what they expect from your product or service. Engage with them through social media platforms, newspaper, radio, television, etc. Stimulate an emotional response through your advertising strategy. You must practice empathy and be genuine while describing a story.
Make them your priority and build trust with key messages. Colour psychology can also be taken into consideration as it is one of the visual elements in your branding strategies. The colour can be light or dark, muted or bright, warm or cool but it must be in accordance with the product you deal in.
- Strategic market research is important
Trade organisations help you stay updated about the developments in your industry. You can gain information about market trends through magazines, newsletters, etc. Use the internet to your advantage for in-depth market research. Request your customers for feedback and implement the necessary changes in your product. You must use objective data and industry analysis for successful strategic research.
Distinguish qualitative information from quantitative and analyse them independently. The source of such information should be reliable to help you find an effective strategy.
With the help of positioning, you can reach out to a specific target market which can assist in creative decision making. It helps you build a strong and compelling message which will ultimately convince customers to buy from you. It’s always better to consult a brand management agency to develop positioning strategies for your company.