To find your way in an unfamiliar city, you will need a compass. For your business path, this compass will be a positioning strategy that will help the brand to win the minds and hearts of potential customers. To correctly develop a strategy, you will need to define your market position, study the needs of the target audience. and the problems that your product solves. Learn how to step-by-step analyze and formulate a strategy from this article.
“Positioning is not what you do with the product. It’s what you do with the consciousness of a potential buyer”. That is how marketers Jack Trout and Al Ries define positioning in their book “Positioning: The Battle of Minds”. Your task is to build a bridge between a product or service and the needs of the target audience, to create not only the product itself but also its idea which will be anchored in the minds of customers. It is necessary because it helps:
Remember that even if you do not create a positioning strategy, people will have a certain image of the business. If you want to take control of this process, then explore your brand and its relationship with customers. Let’s take a closer look at what you need to analyze before you formulate a positioning statement.
Answers the question “why consumers need your product”. Describes the advantages of a product or service and how they differ from the competitors’ offers.
Lifehack. The more oversaturated the market is, the harder it is to offer the physical advantage of the product: consumers may simply not react to another “cheaper”, “better”, or “faster”. In the era of “Marketing 3.0”, it is better to focus on the emotional perception of the brand to reach the hearts of customers.
The segment of consumers you create the product for. Note that there are no “for everyone” products. If you have a large target audience, simply break it down into several segments and make each of them more specific.
Lifehack. Create a portrait of an ideal client (one or more, if you segment the TA). Give him a name, describe his background, lifestyle, habits, hobbies, and fears in detail. Check this profile every time you are going to interact with consumers.
The so-called customer pains, that is the problems that your product should solve.
Lifehack. The most effective way to detect pains is to survey real or potential clients. This can be done in any form convenient for them: personally, by phone, via e-mail, on social networks, or using Google forms.
The segment you operate in (competitors, the degree of market development, and your position in the market). Explore the industry’s history and prospects to determine the context and images to build your strategy on.
Lifehack. Draw up a table with a list of competitors and describe their advantages and disadvantages in separate columns. Add your company’s characteristics, so it will be easier for you to determine your place in the market.
The expression of brand identity through visual, sound, and tactile elements. Corporate identity includes a logo, colors, fonts, product packaging design, souvenirs, and much more.
Lifehack. Brand identity can be created online without a designer. Take advantage of professional services, e.g., ZenBusiness, to get the complete branding package in a few clicks.
The answer to the question “What do you work for apart from making a profit?”
Lifehack. One of the ways to answer this difficult question is to use the 5 Whys technique by asking this question one by one to each of the answers. This method was first applied in Toyota, and now it is used in many well-known companies.
Reflect what you believe in. It can be freedom, inspiration, the strength of mind, constant development, passion for innovation, animal care, and many other beliefs.
Lifehack. 64% of customers recognize that shared values help create a trusted relationship with the brand. But it only works if you genuinely promote what you really believe in. Write a list of your values and think about how you can convey them: in texts, customer communication, service, etc.
The first stage of brand positioning is choosing the right strategy. It should be noted that there are dozens of strategies. They are transformed and updated every year. Different marketing specialists give their classifications of strategies. The list of the main ones is as follows:
Positioning is sometimes based on several strategies at once. To choose one or more of them, one should answer the following questions:
To write a positioning statement, answer the questions we discussed in the previous sections briefly and put the answers into a ready-made template. There are several formulas for creating a positioning strategy, for example:
When developing a strategy, follow these criteria:
Before preparing your positioning statement, we advise you to get inspired by some examples of well-known companies in your niche. Learn their history, marketing strategy, product line, and the nuances of communication with the target audience. Here are a few examples.
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