Brand positioning

So how can you or do you position your brand? Well for us it’s easy.

Look to your market; find out what they want and what makes them buy. See if you can supply it and answer their questions and do it. But don’t just do it. Do it better than anyone else.

Then get your customers to tell everyone else that you do it better than anyone else and build an ethos, values and vision behind it that ensures that no-one else can take that position from you.

Look at processes and business structure that can support the position, ensure that your staff understand and live the positioning and believe the vision. If they don’t know issue, they just shouldn’t work for you.

Then when you have it right, look at improving it and constantly check that the market hasn’t changed their minds. This way you don’t get complacent and find someone else come on the blind side and nick the market.

Then when you have all of that internal stuff done look at how to best tell the world what you stand for and what your business is all about.

Simple hey?

A very clear example can be seen with the global hosting company Rackspace. Ten years ago everyone was selling hosting and no-one really had a differentiator. Well it is just connection and the box isn’t it? Everyone mentioned service and support however Rackspace realised that support actually was THE key differentiator in the market and in effect one of the only differentiators you could have. They set about creating a position as THE support company (Fanatical support TM) but more than that they created processes and systems that supported the positioning and then ensured that all of their staff were fanatical and nothing was too much trouble. What happened afterwards was Rackspace went from being a player to being globally dominant.

So you can see brand positioning is vital and should also be seen as a part of a business growth and to some part of an exit strategy.

A brand positioning process can and should be a 2/3/4 year process and be all encompassing with no deviation or weakness. However the rewards are huge:

  • You stand for something you don’t just sell stuff. More than that you stand for something the market wants and isn’t there already, therefore you will tend to find that you attract clients.
  • You have substance behind you which can then be built on and enhanced. This can then be virally spread by your customers who will become fans.
  • You have an outstanding chance of taking market share and the potential to exit your business if you so wish and have many potential buyers as you are selling more than just a product or service you are selling loyalty.

For further information and an understanding of how Latitude help companies discover and enhance their digital and social media strategy please download our brand insight brochure here >
http://www.latitudesolutions.co.uk/news-blogs-resources/downloadable-brochure-brand-insight

 

 

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