{"id":11757,"date":"2018-10-03T12:35:02","date_gmt":"2018-10-03T18:35:02","guid":{"rendered":"https:\/\/www.virtuance.com\/?p=11757"},"modified":"2018-10-03T12:35:02","modified_gmt":"2018-10-03T18:35:02","slug":"2018-guide-successful-brand-positioning","status":"publish","type":"post","link":"https:\/\/staging.virtuance.com\/member\/blog\/2018-guide-successful-brand-positioning\/","title":{"rendered":"The 2018 Guide: Successful Brand Positioning in Your Market"},"content":{"rendered":"

By Sujan Patel | Source HubSpot<\/a><\/p>\n

What sets you apart from the competition? Successful companies like Coca-Cola and Band-Aid have one important thing in common: a strong brand. In fact, their brand names have become generic terms for all similar products in their niche. If you cut yourself, do you ask for a bandage or a Band-Aid?<\/p>\n

A strong brand should be a priority for all\u00a0businesses striving for success<\/a>\u00a0— and the proof is in the numbers. Brands that are consistently presented see an average\u00a0revenue increase<\/a>\u00a0of 23%.<\/p>\n

B2B companies with brands perceived as strong generate a\u00a0higher EBIT margin<\/a>\u00a0than others. And if that isn\u2019t enough,\u00a0successful branding<\/a>\u00a0yields benefits such as increased customer loyalty, an improved image, and a relatable identity.<\/p>\n

There\u2019s only one surefire way to build a strong brand: brand positioning. Here’s how to successfully position a brand in your market in 2018.<\/p>\n

According to\u00a0The Branding Journal<\/a>, effective brand positioning can be described as the extent to which a brand is perceived as favorable, different, and credible in consumers\u2019 minds.<\/p>\n

Years ago, a soda company decided to do something different with its taste and position itself as unique. Now, Coca-Cola is reached for by millions around the world daily as a household staple — and it’s positioned in our minds as the gold standard of soda.<\/p>\n

6 Steps to Create Your Own Brand Positioning Strategy<\/h2>\n

Creating your own brand positioning strategy involves diving deep into the details of your brand and discovering what you do better than anyone else. These six steps help you create a brand positioning strategy that\u2019s unique to your business.<\/p>\n

Step 1: Determine your current brand positioning<\/h3>\n

Are you currently marketing your product or service as just another item on the market, or are you marketing it as something distinctive? Your current brand positioning gives you important insight into where to go next. You\u2019ll need to understand your current position to further analyze your competition.<\/p>\n

Start by considering your target customer and defining who they are. Next, identify your mission, values, and what makes you different from the rest of the market. Finally, take stock of your value proposition and your current brand persona and brand voice.<\/p>\n

Matylda Chmielewska<\/a>\u00a0at\u00a0LiveChat Partner Program<\/a>\u00a0advises, “We all like connecting with brands that sound and feel authentic to us. Instead of building a complex lingo that no one will be able to understand, just talk human. Start with researching who your (ideal and existing) audience is, and use their language.”<\/p>\n

Step 2: Determine your competition<\/h3>\n

After analyzing yourself, it\u2019s important to analyze your competition by performing competitor analysis. Why? You\u2019ll need to see who you\u2019re up against to conduct competitor research. That research will help you decide what you can do better in your strategy to gain an edge.<\/p>\n

There are\u00a0different methods<\/a>\u00a0for determining your competition, including:<\/p>\n