Why would you buy an Apple Mac Pro instead of a Windows PC? It’s a silly question to ask at the beginning of these kinds of informative posts (which focus on answering your queries). However, you would purchase an Apple product not because Steve Jobs made it. You’d buy it because it fits your current technological needs. Every person buys something because it fulfills something they demand.
Brand positioning strategies is all about giving your products or services value. It is about identifying the feature or unique factor that urges a sale. Every outreach and advertising campaign you do will position your brand in some way.ake to be to the business’ advantage. If you follow these five suggestions, then you can achieve this result.
Five Ways to Improve Your Market Positions
Study the Market (and All the Competition)
With your marketing efforts, you have a great idea about your target audience’s behavior. You know their preferences and details that make certain elements significant and encouraging. What you don’t know is the competitions’ brand position and their overall influence in the market.
Your competitors have their dedicated loyal customers and advocates. They also have campaigns that give them better significance over your offerings at a given timeframe. You can target these top performers by presenting a truly better option.
One example is Tesla’s penetration into the market with its Model S fully-electric luxury vehicle. The market was likely satisfied to have a functioning electric vehicle without much consideration to form. They would place that responsibility to gas-electric hybrids. Tesla’s elegant-looking and fully-functional electric vehicle surprised the high-end crowd. It drove them to prioritize the vehicle above the existing gas-electrics. McKinsey Global Institute’s study of electric vehicle marketing can give you better insight about the industry’s common strategies.
Focus on Your Strengths
Using the example above, some of Tesla’s strengths are innovation and quality control. Its focus on values and practices that developed to perfection gave them an edge against the competition.
It is important to identify your brand’s key performance indicators (KPIs) in any aspect. Deriving this from any social network campaign to product or services rendered is through metrics. Use tools that allow you to collect data that gives you excellent performance insights. Take a look at areas where you are excelling and lacking.
A top view of all your business’ performances allows you to see your efforts’ relevance to target markets. It allows you to answer whether your top-performing efforts are sustainable. Analytic data also allows you to forge the perfect strategy for marketing.
Avoid Being Over or Under
You will want your brand position to be clear to consumers. However, you don’t want to go overboard. Overreaching can damage your business reputation. An example of this is changing your positions more than twice for a certain target.
You drove down the price of your product to gain significance. When the competition dropped theirs, you reduced yours significantly too. The business that takes the next price drop is going to over-position itself.
However, you don’t want to under-position your brand as well. If your price reduction is unnoticed, it is because you lacked efforts to advertise or market it. Give the necessary effort to gain significance and give your consumers a reason to buy.
Lastly, make sure that your brand’s story is straight, too!
Highlight the product or service’s best features first. Then, indicate why the feature is significant. Avoid using too much text and allow the design and image to drive in audiences. Every detail must count.
Using A/B tests on all copies and marketing material helps avoid sending confusing messages. Audiences will give about ten seconds to notice your copy. Making the necessary information memorable to consumers in a short period is your top priority. This helps avoid advertising message and brand position confusion. These two heavily contribute to slow or unlikely ROI for marketing campaigns.
Measure, Measure, Measure!
Beyond A/B tests, you can also use special analytics tools to help you gauge the performance of your marketing efforts. It can help you craft better content. Data can also help you see the audience’s recognition of your brand and its position in relation to competitors. Use tools to measure and improve not just your campaigns but the competition’s, too. Analyzing their top-performing campaigns and brand positions on each one can give you insight on your next move.
Here are great strategies for gaining insight on the competition’s efforts.