As a small to medium-sized business owner, you’ve probably heard the terms “branding” and “positioning” thrown around quite a bit. But what do they really mean, and how can they help you grow your business?
In this article, we’ll be exploring the relationship between branding and positioning and share eight expert tips to help you effectively brand and position your business in the market.
What Do We Mean By Branding and Positioning?
Branding and positioning are often used interchangeably, but they are different concepts.
You have your brand identity on one hand, and you have a position in the market where you would like to place your brand to satisfy some problem or need.
Branding for SMBs
In the past, people would burn symbols on animals or goods to indicate ownership. For instance, have you ever seen a farm animal with an identification mark?
This practice is known as branding. When another farmer encounters this marked cow in a field, he can immediately recognise its owner by the “brand” on the animal. This recognition could be associated with positive or negative quality – but we’ll get onto that later in this blog post.
What we’re trying to say is – branding helps people identify your product or service.
Nowadays, branding can and is achieved through various means: logos, colours, tone of voice, and sounds, to name a few. These elements can be used individually or combined to create your brand identity. Together, they form the complete picture of your brand and allow people to identify your business entity.
Positioning for SMBs
Now, let’s move on to positioning. This is all about how your business is perceived by your customers compared to your competitors.
It’s the unique space your business occupies in the market. Effective positioning sets you apart from the competition and highlights your unique value proposition (UVP).
So, a great example of this is – if you think about EasyJet or Ryanair, you probably associate these brands with “cheap air travel”. They have positioned themselves in the market as the most affordable, low-cost airlines.
So, Why Do Branding and Positioning Matter?
The truth is that markets are saturated, and businesses need to stand out. This makes branding essential if you want to start creating a unique identity for your business. Because, at the end of the day – it’s what’s going to make your business stand out to your target customers, and it’ll help them recognise and remember you.
Strong branding also helps build trust and credibility, which can lead to increased customer loyalty and repeat business.
Positioning is also crucial. It’s going to be what helps you differentiate your business from your competitors. It’s about finding a unique place in the market where your business can thrive. Understanding your target market and their needs is key to effective positioning.
You need to think about your position in the market, where you want to place the business, and how you differentiate from competitors.
You could try to establish your market position through some of the following examples:
- The Cheapest
- High-End Luxury
- Niche Proposition
- Superior Customer Service
- Convenience
- Innovation
- Sustainability
- Rewards
- Best Quality
- Most Durable
- The Quickest
- Customisation
Within your market, you will have competitors trying to position themselves as the cheapest; other competitors may try to position themselves as the company to go for if you want the most durable product.
8 Tips for Branding and Positioning
Tip 1: Know Your Audience and Your Capabilities
Understanding your target market is the first step in effective branding and positioning. Conduct market research to gather insights about your customers’ needs, preferences, and behaviours. Use this information to tailor your branding and positioning strategies.
You should also be aware of your internal capabilities. Do you have the infrastructure, technology, supply chains, and resources to effectively position yourselves in the defined area you wish to target?
Tip 2: Develop a Unique Value Proposition (UVP)
Your UVP is what sets you apart from the competition. It’s a clear statement that explains how your product or service solves a problem or improves a situation for your customers. Make sure your UVP is compelling and resonates with your target audience.
If you sell T-shirts, you are entering a market that is already hugely competitive. So, what is different about your T-shirts?
Targeting a niche can help define a UVP; you may sell T-shirts, but how about selling the best T-shirts for sports with breathable fabric or T-shirts that can be reversed for a change of colour?
Tip 3: Create a Consistent Brand Voice and Message
Consistency is key in branding. Ensure your brand voice and message are uniform across all channels, from your website and social media to your customer service interactions. This consistency helps build trust and makes your brand more recognisable.
Many companies, especially SMBs, need help with a defined voice. Your marketing team may evolve in personnel, and in turn, your business voice changes as the personnel changes.
New staff who work in your marketing team need to understand your brand voice and the identity you wish to portray at all times.
Tip 4: Design a Memorable Logo and Visual Identity
Your logo and visual identity are critical components of your brand. They should be memorable and reflect your brand’s personality. Invest time and resources in designing a logo and choosing brand colours that resonate with your audience.
If you are positioning yourself as a high-quality retailer, you do not want a cheap-looking logo. In the future, people will recognise your brand, and the logo will be associated with people’s perception of your business.
Tip 5: Get On Social Media
Social media is a powerful tool for branding and positioning. Use platforms like Facebook, Instagram, and LinkedIn to share engaging content, interact with your audience, and build your brand. Regularly update your social media profiles with consistent branding and messaging.
Tip 6: Tell Your Brand Story
Storytelling is a powerful way to connect with your audience on an emotional level. Share your brand’s story, including your mission, values, and the journey that led to the creation of your business.
A compelling brand story can differentiate you from competitors and foster a deeper connection with your customers. It will also allow you to break into certain groups who identify with your values or mission and form a close connection with these customers and potential repeat business.
Tip 7: Build a Strong Online Presence
A solid online presence is essential for modern businesses. Ensure your website is professional, user-friendly, and optimised for search engines (SEO). Encourage customers to leave reviews and testimonials, and engage with your audience online to build a positive reputation.
User-generated content is a great way to show how your product or service is making a difference in real-world scenarios. Ask customers for pictures and videos showing how you have helped them find solutions to problems.
Tip 8: Monitor and Adapt Your Brand Strategy
Branding and positioning are not one-time activities. Continuously monitor your brand’s performance and gather feedback from customers. Use this information to adapt and refine your strategies to stay relevant and competitive in the market.
Competitive forces can often dictate that you have to adapt. You should continuously look for opportunities to develop your brand, as it is not static, and people’s perceptions can change over time.
Get Help With Branding at Maxweb
Struggling to define your brand identity or improve your market position? The team here at Max Web Solutions is here to help.
Contact us at 01516524777 for expert advice and tailored solutions. Or, follow us on social media for the latest tips and insights on branding!
Posted on Friday, July 26th, 2024 in Branding.
