Battle Of The Brands - How Does Yours Stack Up?
The key to a great brand is consistency. A consistent brand communicates company values and helps to deliver trust and confidence to the consumer.
The competition for better brand positioning intensifies as more companies go online to jumpstart their brands. Current strategies may not be as effective as before, and you may need to reposition your brand to keep up. If there's a lesson to learn from this all these, it's that smart planning is key in gaining the upper hand.
So, how do you position your brand with the growing online competition? Let's start with some of the basic marketing steps that can help provide a competitive advantage for your business:
Tracking your target market's behaviour is important to monitor changes in your niche. This provides you with a clear view of how well your brand is doing against both existing and potential competition. This also helps measure your brand's performance to create a distinctive value that will appeal to your customers. So, before you shift to a new image for your brand or launch a new campaign, ask yourself these questions:
1. What does your audience believe?
2. What do they value?
Getting answers from these might help you set expectations for your brand.
Strength and Weakness
Brand positioning is about providing the reasons for customers to give attention to your brand in preference to others. Among the many ways to do this is by identifying your strong and weak points. It's about prioritising opportunities while giving attention to areas that need improvement. This means keeping your foot in the current brand experience while working on a brand promise. If you have a strong grasp of your strengths and weaknesses, you have better chances of aligning your brand within the right market.
Branding strategies focus on achieving different types of market positions. Each demands different approaches to the competition. When it comes to this aspect, you have to narrow your target segment to identify which services or products meet your customer's tastes and supersede what competitors offer. The best market position will be one that others find hard to match.
Build Your Online Presence
Brand positioning is more than just defining where your business fits; it's also about having a strong online presence. A great way to do this is through effective SEO strategies. These can help make your brand more visible and accessible to customers using search engines. The more visible you are online, the more chances of improving your brand's position.
Photo Credit: (Wikipedia)
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