Brand positioning is a key aspect that all companies must strive for to succeed and ensure their staying power in the market.
It is a marketing concept that refers to the position a brand, product, or company occupies in consumers’ minds relative to its competitors.
It is part of a company’s brand identity and its value proposition, which it communicates to its target audience, and represents a competitive advantage.
What is the Benefit of Brand Positioning?
Through brand positioning, customers can internalize a specific image of the company. If customers have a positive view of a product or service, they are more likely to purchase the brand and recommend it to others.
Clear positioning gives the brand a unique selling proposition and differentiates it from the competition. Therefore, it is a great competitive advantage that helps not only increase customer and brand loyalty but also acquire new customers. Thus, effective brand positioning increases sales. If a brand is popular, it is considered a “loved brand.”
How to Evaluate Brand Positioning?
By using Key Performance Indicators (KPIs), these indicators allow us to measure the performance of business, marketing, or sales strategies in real-time and provide us with key and valuable information for making strategic decisions within the company.
One of the brand positioning KPIs you should monitor is brand experience, which allows you to measure how people feel about your brand, whether they like you or not.
This includes the likelihood of them recommending your brand to friends or family, as well as their satisfaction level based on their interaction with your product or service.
One of the most widely used tools to measure brand experience is:
Net Promoter® Score or NPS®, which is an indicator that measures customer satisfaction after an experience with a company or service. Furthermore, the result can help us understand other aspects such as the likelihood of recommendation or loyalty to the brand from that customer.
Good positioning will generate commitment and loyalty from buyers, which will be the beginning of a value chain for the business that one wishes to exploit.