Positioning. It’s one of those marketing concepts that isn’t often understood by small business owners but is crucial to your success. Positioning is designing and communicating your offer so it occupies a clear space in the market in the mind of your ideal customer.
It is used to influence perceptions of your brand so they see you in a certain way. It’s how you communicate a clear point of difference in comparison to your competitors so that they understand why you are the number one choice for them.
Why is it important?
Consumers are faced with 6,000 brand decisions every day. When they’ve decided they want your product they’ll look around the marketplace and make buying decisions based on the perceptions they have and what is important to them.
So you need to understand how you position your brand so that your customers choose you. If you don’t they’ll overlook you or become confused and choose someone else.
You will be making buying decisions every day because of how that brand is positioned. Your choice of car is down to how the marketing bods at said car company have positioned them in comparison to similar cars in the same market. The most obvious differentiating factors are quality and price, but other factors can come into play. A Volkswagen Golf, Audi A3, Seat Ibiza are all pretty much the same car, built by the same manufacturer. But they have been positioned differently to alter your perceptions of their quality and price so that they appeal to a unique slice of the market.
Your customers are going through this same decision-making process. Understanding your positioning will allow you to gather a slice of the market and influence them to choose you.
How do you position your brand?
Grab a piece of paper and write out:
- What is most important to your ideal customer?
- What makes you different? Start with price and quality – what else? Decide on the two most important.
- Create a simple positioning matrix, with low price, high price, low quality, high quality (feel free to replace quality and price with something else)
- Decide where your brand sits currently – what are current perceptions? Do you want it to be somewhere else? Map this point on the graph. This is your repositioning journey.
- Map your competitors on the same scale.
- Do you own your own space, if not can you adjust it?
- Create a clear positioning statement that communicates your unique position and use it across all your brand communications.
Want to know more? Contact us for a virtual coffee and we can discuss how we can help you.