5 Steps To A Proper Brand Position

What sets your company apart from the competition? Successful companies such as Pepsi and Dunkin Donuts have one important thing in common: a really strong brand. Their brand names are so well known they have become generic terms for the products themselves. If you live in the northeast you know that you’re not going to get coffee, you’re going to get dunkies

A strong brand position should be a must for businesses of all sizes, and frankly the proof is in the pudding. Brands that are consistently presented see an average increase in revenue of about 23%. Those are numbers that most businesses would kill for. Creating your own brand positioning strategy involves diving deep into the details of your brand and discovering what your company does better than anyone else in your industry. Here are 5 steps that AMBS uses every day, that will help you create a brand positioning strategy that’s unique to your business.

Step 1: Determine your competition

The great Chinese Emperor Sun Tzu once said, “if you know the enemy and know yourself, you need not fear the results of a hundred battles”. This quote stands true in many facets of business. It’s important to analyze your competition by performing a proper competitor analysis. This will help you decide what you can do better in your strategy to gain an edge. By taking a thorough look at your competitions social media, outreach, and reviews you can assess exactly where your company needs to position itself in the market.

Step 2: Proper competitor research

Now that you’ve determined who your competitors are, it’s time to conduct proper competitor research. Below is a list of a few good places to start.

  • ·What products or services are they offering?

  • ·What are their strengths?

  • ·What are their weaknesses?

  • ·Have they had any successful marketing campaigns?

  • ·What is their current position in the market?

Collecting this data allows you to properly start your brand position strategy.

Step 3: Why are we unique?

This is a question every successful company can answer on the spot. It is drilled into every employee from day one. Why is your company unique? In reality, most new or failing businesses don’t know what makes their company unique. Chances are, after you’ve conducted proper competitor research, you’ll begin to see things as they are. You’ll start to see that most businesses that have the same strengths and weaknesses. However, you might find one of their weaknesses is one of your company’s strengths. This is what makes your brand unique, and it's an excellent starting point for positioning your brand in the market.

Step 4: Create your brand statement

Now that you have conducted proper research and have a good understand of your competitors and your own strengths and weaknesses, it is time to come up with your brand positioning statement. Now this varies from industry to industry but is typically a one or two sentence statement that communicates your brand’s unique value to your customers.

Here are four questions AMSB highly recommends you answer before creating your positioning statement:

  • ·Who are your target customers?

  • ·What’s your product or service?

  • ·What’s the greatest benefit of your product or service?

  • ·Do you have proof?

From there, you can create a simple but compelling positioning statement.

Step 5: Testing

Once your positioning statement is created its time to test. It is important to remember that just because we did the proper research doesn’t mean you will properly position your brand on the first shot. Test the waters with your current clients and fans to see how they react to the new brand position. If it is all positive feedback then you have properly positioned your brand. If not no worries! Take the feedback and return back to step one with the customer in mind!

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