Your brand positioning strategy consists of three critical elements
An effective brand positioning strategy is developed through careful analysis of each of these key elements.
The position your brand takes in the market is quite simply, to stand out as the best choice for your audience.
In order to be the best choice, you first need to understand what it is they want and to do that, you need to get to know them intimately.
They will already have plenty of choices in the market, but there will always be something different, faster, safer, more efficient, cheaper, more complete or more convenient that will appeal to them.
If your offer and image (your idea) provides an appealing alternative to the options they already have in the market, your brand has a chance of claiming a unique place in the mind of your audience.
Your competitors are the existing choices your audience already has.
Through their offer and image they populate the marketplace with solutions your audience has to choose from.
Analysing at your competitors is not an exercise to find what’s working well in order to replicate it.
That would result in your brand simply offering more of what’s already available and contributing to market noise.
In other words, that’s the best way to blend in.
Your competitors will have a variation of offers and images that will appeal to different segments within your market.
Some may be cheap while others are expensive.
Some may be comprehensive while others are convenient.
Some may be fast while others are efficient.
When you know your competitors, their offers, their images, their strengths and their weaknesses, you have a clear understanding of what’s available to your audience.
From here you’re much better placed to uncover opportunities.
Your differentiator is the cornerstone of your positioning strategy.
Once your understand who your audience is and what they want…
And you also have clarity on who your competitors are and what they offer; you can identify gaps that exist which your brand can fill.