This week we are going to be taking a deeper look into brand positioning and value proposition, as always we have provided exercises for you to carry out with your own brand to build your company's own brand strategy.
Your brand positioning is an articulation of what differentiates you in the marketplace, or how you are different from your competitors. It’s important that your team has a firm grasp on where you are positioned (especially folks in leadership, sales, and marketing, as those efforts are meant to reinforce this position).
You can encapsulate your positioning in a one-sentence description that explains what you do better than everyone else.
There are many different formulas to find your positioning.
Here’s a simple prompt from branding pro Marty Neumeier that helps identify your specific positioning:
Your value prop is a succinct explanation of both the functional and emotional benefits your product or service provides to customers. It’s not just who you are and what you do differently (aka your positioning); it’s also how you solve their problem and why they should choose you over the competition.
You can also think of it as the promise of what they’ll receive if they buy from you. (It’s important that you have this question answered for yourselves before anyone asks.)
To craft a compelling value prop, try Steve Blank’s XYZ template:
We are going to be taking a look at the final part of phase two... Tagline and messaging architecture. By now you should have started to develop a better understanding of your brand and the strategy is slowly coming together.
As always if you have any questions about your company's brand strategy then do not hesitate to get in touch and one of our talented team will be happy to discuss with you.