So what is brand positioning and how does it lead to increased sales?
Lululemon is a brilliant example. This well-known athleisure brand successfully positioned itself as a lifestyle brand and built a cult-like following simply on the idea that comfort, peace and happiness can be achieved by wearing their workout clothes. When you wore Lulu, you were making a statement – that health and wellness was important to you – and the clothing line became a badge that signaled you were health-conscious. What Lulu did was sell a feeling, as much as any product and it paid off in a big way. Which means, it can also work for your business…
Positioning More Than “Products”
Product positioning isn’t new. In fact, for many years, that was the sole focus of many businesses. What mattered was what you sold, rather than who was doing the selling. But with today’s technology comes a much savvier consumer and simply talking about your products is no longer enough. Modern consumers are looking for authenticity, connection and experience. When they do business with you, they want to feel good about it. And to do that, the focus needs to shift away from product positioning and toward brand positioning.
Think of it as selling more than just a product or service. You can also sell a lifestyle, like Lululemon and it can really boost your sales. After all, if customers like and trust your brand, they’re more likely to make a purchase.
So, how do you tap into your customers’ emotional centre? How do you make your brand appealing? The best way to do that is to follow these 3 steps…
Get a Good Grasp on Your Target Customer
If you plan to sell a certain narrative about your brand, you need to get inside the minds of your target customers. You need to really understand them. It’s not enough to just know that people like your products. Why do they like them? Who are they best suited for? What problems do you help customers solve? Or are you looking for people to feel an emotion when they use your product?
For the answer, you need to delve into your target customer base. Learn what they like, what they don’t like, their stance on life, their values, their patterns of behaviour. This includes how they like to research products, how they shop, and what kinds of content they value.
– Imagine your brand foundation: built for growth and future success –
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Make Sure You Know Your Market
Before you think about positioning your brand, you have to know where and how your brand will fit into the existing market. That means researching your top competitors, your industry and even global brands, to see what they’re doing. It helps to see what others are offering, to know how you can portray your business in a unique way. It also helps to learn what works and what doesn’t. Learn from others’ mistakes and successes and you’ll be ahead of the game.
How To “Position” Like a Pro
After you’ve learned all you can about your competition, you’ll need to think about how to present your brand so that customers see value in doing business with you. For that, think back to what makes you different. What about your business makes it likeable and attractive to your targets?
Start with some positioning statements, such as “My brand is _______ .
Fill in the blanks with descriptive words you would use to characterize your brand; i.e., innovative, eco-friendly, artisanal, or proudly Canadian. You get the gist! Then try to sum it all up in a few key sentences that really capture your company’s uniqueness.
Practice Your Elevator Pitch
Pretend you’re getting into an elevator on the ground floor and standing there is that big, juicy client lead you’ve always wanted. It’s your time to “pitch” your brand. But you have only 2 minutes – from the time the elevator door closes to the time your ideal customer leaves the elevator. In a few sentences, can you accurately describe your business, communicate its value and present your brand in an enticing way that will make them want to book a meeting with you?
If you can do that, it will help you refine your brand positioning with a laser-like focus. Then, you can begin to build content that supports and reinforces this “view” or image and the feelings you want to evoke in your customers.
Need help pitching your company to prospective customers? Try booking a free consultation with us and we can help you build a strategy that increases sales.