How The Right Positioning Can Increase Your Brand’s Value
Have you ever wondered why customers are willing to pay more for some products, than others? Why some brands are more successful and able to generate higher profits than others in the same industry?
Though marketing and advertising strategies paired with a quality product can help businesses drive toward their objectives – there’s more that goes into building and scaling a successful brand.
Two words: Brand positioning.
Brand positioning will help you attract not only more customers, but more of the RIGHT customers.
Customers who have an affinity for your brand and are willing to pay more for the product or service they love.
Brand positioning also ensures you increase profitability, while increasing revenue.
However, many businesses miss the fact that positioning a brand effectively requires differentiation.
Too often, business’ focus their marketing on explaining why a product or brand is great, when in reality, customers no longer believe, much less listen, to marketing messages.
Buyers don’t care what a brand’s advertising says…they want to know who you are, what makes your brand different, and how your product will make their lives better. It’s about them.
Are you successfully positioning your brand?
Look at your website today and ask yourself these three questions:
- What percent of your site is about your product/service?
- What percent is about the benefits of your product/service to customers?
- What percent of your site includes customer testimonies and case studies?
The best way to differentiate a brand is to tell stories about how customers are using your product today.
Allow user experiences to provide potential customers honest insights on the benefits of your product.
A good example of a company that does this very well is Airbnb. They use their customer’s experiences to represent their brand and tell their company’s story. Not only do they have a community forum on their website for hosts to share their experiences and connect but they also consistently showcase the experiences of the guests as they stay all across the world.
The second-best way to differentiate your brand is to share stories about your team and culture – and place these stories on your social media pages.
Buyers often use social platforms to get a “peak” into who you are as a company. They want to know whether or not your brand’s values align with their own.
Telling a differentiated brand story is more than just being a thought leader. The primary story you want to tell is how the brand helps customers solve problems or how the product adds value for the buyer.
A company that does a great job at sharing their story both through customer experiences and their company culture is CustomInk. Their products bring companies, organizations, and even families together to celebrate events of all kinds.
Finally, engage your customers, staff, and partners in sharing stories about your brand.
Find ways to create engaging, interesting content that your team would be proud to share. Social media can be an effective way to achieve this.
IGNITE On Purpose knows brand positioning. We can create a comprehensive strategy to help you achieve all of your business’ objectives.
If you’re ready to differentiate your brand and accelerate business growth, contact us today!