What is SMART when it comes to Brand Positioning?
Now you need to identify your brand’s uniqueness and determine what differentiates you from your competition. Firstly, determine how your brand is currently positioning itself. Secondly, identify your direct competitors. Third, understand how each competitor is positioning their brand. Then, compare your positioning to your competitors to identify your uniqueness. And finally, develop a distinct and value-based brand idea. This should be the start of your Marketing Strategy. Avoid cutting corners with your competitor research. Even if you think you know a brand, give it a second look, take a deep dive into content and audience.
Effective branding depends on three key elements:
- Relevance – That is, how your brand relates to your target market.
- Authenticity – The difference between feigned interest and a genuine attempt at connecting with your audience.
- Authority – Whether your brand actually delivers on its promises.
Effective positioning of your brand is the difference between being a household name or just another company trying to compete in an oversaturated market. Even after establishing your initial brand positioning, always be flexible and willing to fine-tune your statement to ensure the best customer recognition and relationships possible.
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