Brand Positioning Statement: How it can help you prioritize business growth strategies
In the digital age, business growth strategies and tactics are constantly evolving. As the dynamics of advertisement are rapidly changing, it has become essential for brands to keep up with the latest trends.
But when the algorithms, social media platforms, customer behavior, and interests are changing rapidly, it is difficult to figure out what to focus on to build a successful brand statement.
Now, for instance, you are preparing to bring a new product to the market. After spending countless hours, minutes, days, weeks, and months, even years to determine what sets your product apart from the competition, you create and develop a brand identity.
But how can you ensure that your marketing efforts are aligned with the brand?
According to a report by Forbes, ‘ 38% of users stop interacting with a website, if the layout is unattractive, and 39% of the website visitors stop engaging if the images do not upload quickly’.
The report further explained that after watching a branded social video, 64% of consumers purchase the product. A consistent brand presence across all the social media platforms increases the revenue by up to 23%.
So what does this mean for you if you want to launch a new product in the market? Well, here brand positioning plays a vital role.
But what is brand positioning?
In simple words, it is a brilliant way to tell the world how your brand or product is unique and different from the competitors. It also explains how the product will give your customers a never-before experience, by filling their particular needs.
A brand positioning statement is a wonderful way, where you can let your creative juices flow to describe the key values and qualities that your products comprise and customers are searching for.
A well-crafted brand positioning statement conveys the value proposition to the target audience while describing the brand`s identity, purpose, and distinguishing features.
So whether you are an entrepreneur, solopreneur, or a businessman who is willing to craft a brand statement, it is necessary to get crystal clear on these aspects of your business:
- Emotional connection with Target audience: A positioning statement is all about emotions and less about facts. Identify the benefits that will hit the right chord and try to inculcate that element while writing into your brand statement.
- Customer Pains: Take ample time to figure out how your product will resolve customer problems. Brainstorm and then try to capture that into your position statement, briefly.
- Brand promise: As the competition is huge in the market, you must focus on your product`s unique value and distinct benefits that cater to the pain points of the target market.
- Brand identity & core values: What most brands fail to recognize is that it`s not the sales of your products, but your customer`s perception that determines the value of your brand in the marketplace. Hence, keep your brand values align with the target audience when writing a positioning statement.
An excellently written brand statement will help customers to relate to the brand stories, values, mission & vision. This will further help them to develop a strong connection with your brand on a deep level.
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