Why is Brand Positioning so important in 2022?

You position your brand in the minds of your customers through brand positioning. You need more than a catchy tagline or a fancy logo to differentiate your business

A brand's positioning is effective when consumers perceive it as valuable, credible, and favorable. As the sum of these three factors becomes unique to your business, your customers begin to recognize you.

For a business to succeed, it is not enough to be different from the competition. Will Barron at Salesman.org says you only get the chance to position your brand when you do something remarkable. Anything else is just a comparison.

Why is brand positioning important?

Your reputation will always exist, so create a brand positioning plan that can help you take control of your image and reputation.

An American soda company unveiled a never-before-released product over a century ago: the first cola. It managed to establish itself as an original by doing so. There are millions of Coca-Cola drinks sold around the world now, and the brand is a household name. We consider it the gold standard of soda.

A company's brand positioning enables it to stand out from its competitors. It helps a business increase brand awareness, communicate value, and justify pricing, which all contribute to its success.

All brand positioning strategies, however, do not have the same objectives. Positioning and messaging will vary based on your industry and offering. Here are some common positioning strategies you can use to get started.

Your brand can be positioned in a variety of ways in the marketplace. Your strategy should highlight your product's competitive advantage and highlight the weaknesses of your competition.

Listed below are a few positioning strategies you can use to differentiate your brand.

Sri Aiyaswamy , you have chosen a retailer, restaurant, or other service provider because of its customer service.

Those in verticals with inattentive customer support can differentiate themselves by emphasizing their friendly service. In addition, companies with products that are particularly complex can promote their strong support systems in order to attract new customers.

Great customer service can justify charging more for this strategy. Apple products, for example, cost more than most of their competitors, but its customer support staff is friendly and quick to respond.

Service interactions play a vital role in the flywheel as well, as an initially unhappy customer might become a promoter after a satisfactory experience.

Be diligent with this strategy. A company that advertises excellent customer service but then fails to deliver on it will invite bad reviews, angry phone calls, angry emails, callouts on social media, and even complaints with the Better Business Bureau.

Convenience-Based Positioning Strategy

Convenience-based positioning emphasizes the features of a company's product or service that make it more convenient than those of competitors. Location, ease-of-use, wide accessibility, and multiple platform support can all contribute to convenience.

Also, the design of the product may contribute to the convenience. In its advertising, Swiffer offers its WetJet product as an alternative to traditional mopping because of its disposable pads.

The most convenient product or service will automatically attract busy customers. Additionally, like the previous strategy, a higher price point can be justified. Compared to an O-Cedar mop, a Swiffer WetJet costs $26.

However, offering convenience is not always cost-effective. A strong, consistently available development team is critical if your product is part of a B2B SaaS offering that supports multiple operating systems. Those developers would need to be available to resolve bugs and other issues for this positioning strategy to work, and the costs could be high.

The last thing you should check is whether your product is really convenient. As an example, WetJet mop refills are constantly required by customers, which can be inconvenient. Providing automatic refill programs or subscriptions, for example, might satisfy your customers' desire for convenience if you sold a similar product.

Price-Based Positioning Strategy

In a price-based positioning strategy, a company presents its product as the most affordable on the market. Your product will generate a large clientele if it is the least expensive on the market. Prospects will convert more easily if you offer the lowest price.

Nonetheless, this strategy entails risk and drawbacks, namely, giving prospects the impression that the quality of the product is lower.

It is also possible to run into economic issues that may hinder your brand's positioning over time, such as Subway's $5 footlong, which failed to survive inflation. A price war can also result from price-based positioning, but this is mostly a problem in certain industries like air travel.