Successful Brand Positioning
What makes a brand successful? It must have a fundamental purpose supporting its services or products. This is called brand positioning, and without it, your brand will have no traction.
Successful brand positioning rejects conformity. It stands out from its competitors so customers can’t help but take notice. A brand that is different and unexpected will attract attention and have an advantage in the marketplace.
But to have your brand be interesting and noticed, its positioning must achieve three things: it must be unique, focused and relevant. Forgetting any of these factors will result in the collapse of the platform.
If no one notices you, it’s impossible to build a loyal following. That means that your first step is to ensure your brand sticks out from its competition. Sure, there’s more to a brand than its difference, but your business will be lost from the start if it only blends into the background noise. You can set your brand apart by offering a distinctive business model, presenting a sense of personality, using fresh language to describe your services, visually standing out from your competitors, or delivering a unique service or product.
Many businesses try to broaden their offerings in hopes of expanding their customer base. The issue with this approach is that the lack of focus creates more competition, leading to commodification. If your services are a commodity, you lose your prestige and margins. To avoid this, identify your niche. Your customers will openly seek you out and will be happy to pay more for your services.
If your business is highly specialised but not many people require its services, your business won’t make money. Test the waters before you commit to a new direction to discover if your services will be relevant. You may find that your niche is too small to support your growth ambitions. Once you’ve established a good positioning, your business will grow and flourish.
When developing your brand’s positioning, you must determine how your services will benefit your customers and what fundamental goals you want to achieve.
So, what makes a brand successful? It’s positioning.