How to Develop a Brand Positioning Strategy for Competitive Advantage

According to one study, about 90% of consumers say that the brand is one of the most important factors that goes into their decision to purchase something.

In order for your business to take off, you’ll need to come up with a brand positioning strategy since that’s what most customers care about.

But how do you even do that? Keep reading and we’ll tell you all you need to know.

Figure Out Your Current Position

Before you can come up with a strategy, you’ll have to analyze your current one. If you’re not sure what your current one is, you can always hire an external marketing company, like ScentAir, to help you out.

But you can also ask yourself some key questions about your brand. For example, are you selling just one product or service? Or are you trying to market something as a whole? If you can answer these questions, you might have a better idea of where you need to go next.

You may also want to consider who your target customers are. You should also come up with a mission and values for your company if you don’t have them already. Try and come up with a mission or value that is authentic and will appeal to your target customer’s interests.

Come Up With a Selling Proposition

Next, you’ll need to figure out a selling proposition. This is basically just a characteristic of your brand that is unique to you and sets you apart from your competitors.

With so many other businesses out there, it can be hard to make yours stand out, but this is where you’ll work on that. If you have a selling proposition, you’ll be able to convince your customers to choose your brand over another. However, you’ll also need to let them know what the positioning is.

For example, McDonald’s is popular all around the world and is known as a fast-food outlet. While they do have cheap and fast food, they focus on making their marketing content as family-friendly. This way they appeal more to families, and then families go in and buy their product.

Figure Out Who You’re Competing Against

Once you’ve done the last two steps, you’ll have to do some research on your competition.

You’ll need to figure out what they’re doing. Are they doing something wrong? What are they doing right?

This will help you fine-tune your strategy and also give you an edge. Some research you can start doing is to see how much money they’re bringing in, what their customers are saying about them, and what social media sites they’re active on.

Analyze Your Own Brand

While you’re analyzing your competitors, make sure that you look at yourself as well.

What makes you different and what brings in your customers? If you don’t have answers to that, you can send surveys out to your customers with an incentive to help provide you with more data.

If you haven’t been collecting data, you should start now because this will help give you insight into patterns and what your weaknesses and strengths are.

Once you have all of this information and figure out what makes your brand unique, you can start to incorporate that into your positioning strategy.

Create a Map as a Guideline

After you’ve done a little bit more research, you can start making a map and using that as a guideline to help you come up with a brand positioning strategy.

You might want to have a brainstorming session and break out the whiteboard for this one. First, you should list all the products and services that you sell. List what your competitors are offering as well. Next, make sure you list out the benefits and features you have.

Last, make sure you list how much you and your competitors are selling the product for. This will help you start to create your map, and you can see where you’re lacking and your competitors have an advantage. Or, on the other hand, you may be able to see that you have an advantage and your competition doesn’t.

This is where you can create a position to help fill in some of those gaps.

Come Up With a Positioning Statement

Lastly, you’ll have to write up a positioning statement. It’s similar to making a proposition, but this focuses on what the benefit of your product is for the market that you’re trying to get into it.

This question is basically how you want people to view your brand.

You’ll have to figure out what category or niche your brand falls into it and how it fills a need that consumers need. That need is what will drive them to buy your product. It could be a need for some fitness or meal program that’s specific to your audience.

Once you know the answer to that, you can then start to come up with a reputation for your brand that people will start to recognize. If they love your brand’s personality, they’re more likely to purchase from you.

Discover More About How to Come Up With a Good Brand Positioning Strategy

These are only a few ways to come up with a good brand positioning strategy, but there are many more ways you can influence your customers.

We know that running a business and marketing it can be overwhelming and stressful, but thankfully, we’re here to help you out!

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