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6 steps to creating a unique brand identity in a competitive market in 2023

by | Aug 2, 2023 | Public Relations

Your brand needs a unique identity to drive its success, and achieving this unique identity can be a challenge. You need to know how to develop an impression in your customers’ minds so they come to associate something desirable and specific with your brand. Having the best brand positioning strategy can ensure you create a unique identity in a competitive market.

For instance, when most individuals scrape any part of their body, they ask for a Band-Aid instead of a bandage. Successful businesses, like Band-Aid and Coca-Cola, have mastered the concept of brand positioning. In fact, the general population associates their brand names with similar products in the same niche.

An effective brand positioning strategy is vital for businesses to thrive. So, how do you go about brand positioning? Let’s learn more below.

6 steps to creating a unique brand identity in a competitive market in 2023

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Brand positioning involves the procedure of positioning your brand in the consumers’ minds relative to competitors. In short, brand positioning is a unique value that your business presents to its target audience.

It comprises a marketing strategy brands use to establish their unique brand identity, setting themselves apart from competitors. The brand identity established conveys a business’s value proposition, which is why consumers would prefer one brand over another.

Why is brand positioning important?

Brand positioning ensures you can create a brand identity that differentiates your business from competitors. It plays a crucial role in retaining customers, attracting new customers, and ensuring a competitive advantage.

In addition, brand positioning allows you to take control of your brand’s image and reputation. For instance, centuries ago, a soda company produced a never-seen product, the cola drink. This production ensured that the company positioned itself as the original soda manufacturer. Today, Coca-Cola benefits from millions of sales worldwide because it positioned itself in the mind of consumers as a gold-standard soda.

Therefore, brand positioning plays a crucial role in differentiation. It ensures that companies can increase brand awareness, justify pricing, and communicate value, affecting their revenue. It is also important to keep consistency not only within the brand area, but integrated with other platforms and companies, such as Shopify Quickbooks integrations

Brand positioning strategies that will help you create a unique identity in a competitive market

Here is a compilation of the best brand positioning strategies you can use to stay ahead of your competitors:

Understand your current brand positioning

Understanding your current brand positioning is a significant part of building an effective brand positioning strategy. It ensures you know more about how your brand differentiates from your competitors. You can use the knowledge gathered to create a unique identity and communicate value to your audience.

To understand your current position, identify your company’s values, mission, and what differentiates you from competitors. Next, determine your target audience and consider your current brand voice, persona, and value proposition.

Make sure to focus on the authenticity of your brand: 88 percent of customers establish that authenticity is vital when deciding which brand they support and like. Authenticity ensures a unique brand identity, which sets you apart from competitors.

For the best brand positioning consider important factors such as website content, ease of navigation, visual design and user friendliness. To save time and money you can create website prototypes and conduct prototype testing to identity potential issues that might hinder positive user experience.

Develop a unique brand positioning statement

A brand positioning statement is the cornerstone to an effective marketing strategy. It tells a story of what your organization does, what makes it different from competitors, and who the target audience is. A good brand positioning statement should outline your brand’s defendable and unique point of difference.

Moreover, a content creation tool like a digital presentation maker enhances brand positioning by enabling businesses to create professional and visually captivating presentations, effectively communicating their brand identity, values, and key messages to their target audience.

It can comprise a physical, social, or emotional advantage you wish your company to be popular for. When developing the brand positioning statement, include something that makes you superior or unique compared to your competitors.

A brand positioning statement comprises the following parts:

  • Market definition: This section consists of the sector your brand is competing in and the context in which your company is relevant to customers.
  • Target audience: This part describes the target audience you want to attract or appeal to.
  • Brand promise and reason to believe: It comprises a rational or emotional benefit that your brand will provide the target customers relative to your customers. In addition, the positioning statement should have compelling reasons that your brand will deliver its promise.

Leverage social media and other digital channels

Social media and other digital channel positioning strategies give businesses one of the best ways to tell their unique brand story. They allow companies to leverage smart web solutions to ensure they stay focused on increasing awareness about their unique brand identity.

When developing your brand positioning strategy, it’s important to consider creating a website as an essential component to establish a strong online presence and engage with your target audience.

When leveraging social media channels, you do not need to sign-up for all channels available online. Instead, you can focus on the channels your prospective customers use the most. The primary factors that you should consider when deciding which social media platform or digital channel is best for your brand positioning strategy include:

  • The channel where your prospective customers spend most of their money
  • The site where your prospective customers spend most of their leisure time
  • The platforms your prospective customers use to look for advice and information

Once you narrow down on the social media platform or digital channel, craft unique messaging to meet your target audience where they are. Make sure to leverage the power of social listening.

Conduct competitor research and determine their positioning

Competitor research will help you gain insight into who your competitors are. After determining your competitors, you must evaluate their positioning in order to compete effectively.

Some of the things to look into in your competitor research include:

  • The services or products your competitors offer
  • Your competitors’ current position in the market
  • The successful marketing strategies that your competitors are using
  • The weaknesses and strengths of your competitors

Competitor research will help you determine ways to improve your brand positioning strategy to ensure you attain a competitive edge. It will also help you in creating a unique brand identity.

6 steps to creating a unique brand identity in a competitive market in 2023

Source

Establish your unique brand value proposition

Developing a unique brand is about determining what works for your business and what differentiates you from other brands. Capitalizing on what makes you unique is a significant part of the brand positioning strategy.

It ensures you create a unique brand identity that sets your business apart from competitors. A business’s value proposition is fundamental in gaining a competitive advantage since it articulates why customers would want to buy from you rather than the competitor. Furthermore, it ensures you develop a unique selling proposition (USP). If your business has a strong USP, prospective customers will likely view your brand as high quality; this will allow you to charge more for services and products.

Incorporate NPS data into your brand positioning strategy

Incorporating NPS data into brand positioning can have a significant impact on an SDR’s effectiveness in generating quality leads and driving revenue. By aligning brand positioning strategies with customer satisfaction insights from NPS, businesses can foster long-term success and stay ahead in the competitive market

NPS, or Net Promoter Score, is a customer loyalty metric that measures the likelihood of customers recommending a company. SDRs can use NPS to build relationships, identify advocates, qualify leads, and improve sales strategies. Incorporating NPS data can greatly impact an SDR’s effectiveness in generating quality leads and driving revenue.

In conclusion

Brand positioning is at the heart of successful marketing tactics. It allows companies to create a unique brand identity that differentiates them from competitors. Brand positioning also ensures businesses can develop a unique selling proposition that further sets them apart from competitors.

Renu Sharma
Renu Sharma is the Co-Founder of Tanot Solutions, and she helps businesses to 5X their organic traffic by building high-quality backlinks. When not working, she loves to polish her marketing knowledge and skills and watch interesting web series. You can follow her on LinkedIn.

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