Positioning is one of the most critical yet misunderstood aspects of marketing. It’s all about making sure that your brand makes a strong connection with your customers in the market. This may seem simple, but your brand could end up being positioned in a completely different place than what you wanted without the right strategy. In this blog, we will look at the essential steps to optimize your positioning in marketing for more sales.
What Is Positioning In Marketing?
Positioning in marketing refers to how you position your product in the market. You need to have a clear idea of what your product is offering and how it’s different from similar products from your competitors. The goal of positioning is to make your product stand out in the minds of consumers. You do this by clearly explaining how your product is better than your competitors. You also need to know your demographic, who your target market is, and how you can keep your target market interested in your product.
Hence, it’s not just about how you target customers, and it’s also about how you talk about yourself. These are all things that are considered when creating a positioning strategy for your product.
Types Of Positioning Strategies
Companies and brands can use four main types of positioning strategies: Product Positioning, Price Positioning, Place Positioning, and Promotion Positioning.
- Product Positioning: This type of positioning strategy is about the product itself and its unique or better than similar products on the market.
- Price Positioning: Price positioning strategy refers to how a product provides better value at a lower price than its competitors.
- Place Positioning: This strategy is all about how and where you promote your product or service to let your customers know about your business.
- Promotion Positioning: Promotion by name refers to the process you use to promote your business on different platforms.
How To Create An Effective Market Positioning Strategy?
Positioning in marketing can be tricky, and it can be hard to know where to start when working on a marketing strategy. If you don’t know how to position your product correctly, you won’t get customers to buy it.
Hence, here we have a complete product marketing roadmap to help you create your effective market positioning strategy:
Knowing Your Competitors & Customers
Competition is everywhere, and it’s impossible to stand apart if you are not having an insight into your competitors in the market. Hence, reading and understanding your competitors’ strategies becomes very important.
Identify Your Rivals: You’ll need to keep an eye on your competitors and understand their marketing techniques and weaknesses. Knowing these points will give you the idea, where you need to compete with them.
Knowing Your Customers: No one knows how the customers’ expectations can change. Hence, it’s important to understand your customers’ needs. It can be some latest trends or some specific feature, top-notch quality, or even low prices.
Caring For Your Existing Customers: Your competitors always try to attract your current customers. Hence, you have to provide good reasons and more value so that they always stay with you. You can enhance your customer care support, provide special offers and discounts, better products at lower prices than your rivals, and much more.
Create A Positioning Statement
A positioning statement is nothing but a couple of lines that introduce your whole business’s unique value to the customers. You will use your positioning statement to change your target audience’s minds to come to your business instead of your rivals. Hence, it’s very important to know:
- Your targeted audience.
- The niche of your business.
- The value you can provide to your audience.
Once you know these points, you can easily create a strong positioning statement for your business.
Enhancing The Communication Channels
The communication channels decide how strong your communication with your customers will be. Be it your social media handles, email marketing, or websites, your communication channels let your customers know the value your product or service can provide. Hence, it’s very important to always keep enhancing your communication platforms.
Social Media Platforms: In the current digital era, Social media platforms are more often used as a tool than just a platform to communicate with your family and friends. They help you keep your active presence within your audience and customers, as you keep posting pictures, videos, and exciting posts to interact with them.
They mainly help you to grab the attention of the people who are interested in your products. Hence, communicating with these customers on social media can easily encourage them to stay around, refer your products to their family and friends and ultimately create a strong position of your brand in the market.
Company Websites: Every purchase starts with a Google search these days. Hence, a healthy website always helps your brand to be visible to potential customers. Anything starting from your company’s history, products, to special offers — they can learn about anything from your website. You never need to worry about losing your customers if there is a change in the algorithm of the social media platforms. Even if your social media goes down, you have your website to stay with them 24*7.
Email Marketing: Email Marketing is always regarded as the most valuable means of communication with your customers. You have your clients and customers and your information. Here you don’t worry about social media algorithms or the SEO-based websites to rank in the search results. Even configuring a professional email is not as expensive if compared to a website or television advertising.
You might not get the expected results from the other communication channels. Still, if you do email marketing right, there is no other cost-effective way to enhance your communication and relation with your customers.
No brand’s position in the market is fixed. Customers’ requirements and expectations constantly change according to the new trends. You cannot just execute your plans once and expect to grab a fixed advantageous position in the market for the rest of your marketing journey. Hence, you always need to understand your customers’ needs, your competitors’ strengths and weaknesses, take on the new trends, and upgrade your plans according to different situations.
Furthermore, if you have any doubts regarding the above points, we would love to answer them in the comment section below!