up:: [[Modern Entrepreneurship Toolkit (METK)]] tags:: #on/branding # Brand Positioning *Brand positioning is an **iterative** process, with **precision** at its core.* It is the opposite of targeting all audiences with all types of services, but to be the ONE at a very narrow niche. This often means best-of-class, specific and clearly labelled services, for a specific targeted customer base. > [!example] **General**: A freelance graphic design studio doing logos, web design, illustrations for various clients, with some emphasis in financial clients. > **Specific**: A design studio focused on brand identity for credit unions. The process of tuning your brand positioning can be done by assessing: - Positioning statement - Brand DNA - Differentiators (functional, emotional) - Core values - Brand personality (tone of voice) - Mission statement - Customer research (demographic and psychographic profiles) - Competitive research (direct, indirect) - Follow-up checklist, iterate! ## Positioning Statement As known as the value proposition. Note if your target audience is broad or specific, if the benefits are clear, if there's a meaningful "why" behind the value proposition. Then, pick the one word that encompasses the brand's identity. > [!note] *To **target audience**, our product is the **category** that provides **functional, symbolic, or experiential benefits** because **reasons and purpose**. In ONE word, **company name** is **brand DNA**.* ## Differentiators *There are **functional** and **emotional** benefits a brand can provide to the customer.* A functional benefit can be cost, quality, effectiveness. While an emotional benefit can be belongingness, wonder and awe, pleasure. List 5–10 benefits your brand offers to your target audience, then select the top **three** that you believe differentiates from competitors. ## Core Values Based on the value proposition, extract three short phrases that can represent the brand's core values. These can be guidelines in providing service, or ideals your brand represent, but they should refer back to the purpose. ## Brand Personality Keep in mind that this is the brand's personality. Imagine if the brand was a person, how would they speak? It's often an extension of the founder, but not always. Some resources are available from the Brand Personality Quiz developed by FINIEN freely available [here](https://findcongwang.notion.site/Brand-Positioning-Strategy-Template-0a1113fd5b764c27818e38f5e5b5847f), or investigate [[Tone of Voice for Brands]]. ## Mission Statement and Goal Statement Sometimes the mission and goal are two separate statements, but that is overkill and splits the focus of the brand. Think about the customer's needs and the brand's purpose, and fill out this template. > [!note] *We are on a mission to **impact on the world** through **activities, technologies, know-how, etc.** in order to **connect with your why**.* ##### Research Customers and Competitors Focus on your specific niche, picture or research three people you see your brand doing business with. Then evaluate competitors that target the same audience. **Demographic Profile:** Age, Gender, Location, Nationality, Martial Status, No. of Children, Home Ownership, Occupation, Industry, Income, Education, App Usage. **Psychographic Profile:** Values, Attitudes, Interests / Hobbies, Preferred Brands, Other. ***Direct Competition**: Companies that market the same products to the same target audience.* ***Indirect Competition**: Companies that market different products to the same target audience.* ## Follow-ups **Iterate! Go back and refine the positioning statement and brand DNA.** - Does anything need to change? Logo, Colour Schema, Landing Page? - Does your market material showcase the unique differentiators? - Where are the target audience? How can you engage them? --- Resources: - [Branding Strategy for Creatives](https://www.domestika.org/en/courses/3973-brand-positioning-strategy-for-creatives) - [Branding Strategy Template](https://findcongwang.notion.site/Brand-Positioning-Strategy-Template-0a1113fd5b764c27818e38f5e5b5847f)