INSIGHT PAUL REES ASSOCIATES HOW TO BUILD A BRAND
DEFINE YOUR TARGET CUSTOMERS, THEN DEVELOP A BRAND POSITIONING
In my first article in the March edition of G3 magazine, I highlighted why building a brand is important and the key benefits to businesses of all sizes. In April's piece, I covered the first key strategic step in developing a strong brand, i.e., customer targeting. In this article, the focus is on brand positioning development.
Once you have defined your target customers, the next key stage of developing a strong brand is shaping a brand positioning. Understanding your target customer(s), together with a good insight into your competitors and how you compare, are two of the key inputs into creating your brand positioning.
Brand positioning is a critical part of your brand strategy as it focuses on how your brand is different from its competitors as well as helping you stand out in the market, and it forms a foundation for strategic communication and brand development. It's about carving out a unique space in the customer's mind so that when they think of a category, they think of you.
In essence, it’s about asking “What is our position for the brand?”. In other words, what we actually want to stand for to that target customer we identified in the previous stage of brand development.
SHAPING YOUR BRAND POSITIONING
Your brand positioning ideally needs to be clear and simple in order to drive the way you work. Te brand positioning process usually involves creating a positioning statement, a strategic document that conveys the unique value the brand would offer to the target market.
Positioning statements distill a brand’s offer into a compelling answer to the key question, “Why should I buy?”. Customers in most product and service sectors are bombarded with many alternatives, with most seemingly undifferentiated from one another, which makes the choice quite difficult. A compelling positioning statement (which ultimately determines how you communicate your brand to customers) can make the difference between getting lost in the wide range of choices and standing out as the preferred choice for the customer.
It’s important to note that unlike taglines or brand slogans, positioning statements are strategic in nature, developed for an internal audience rather than an external customer audience. Tey help inform the tactical execution of the brand and communications with customers.
Paul Rees Founder Paul Rees Associates
paulreesassociates.co.uk
Paul Rees is a marketing consultant with 20+ years' experience in successfully driving brand and revenue growth across a range of sectors including Betting & Gaming, Retail, and Consumer Goods, for companies such as SIS, Argos, Coca-Cola, Nestle, and Campbells.
Paul works with SMEs that have ambitious growth plans but lack senior marketing expertise. He helps develop effective marketing strategies and strong brands by utilising best practices in marketing planning and brand development, as well as lead generation, to drive company growth.
Positioning statements distill a brand’s offer into a compelling answer to the key question, “Why should I buy?”.
Customers in most product and service sectors are bombarded with many alternatives, with most seemingly undifferentiated from one another, which makes the choice quite difficult. A compelling positioning statement can
make the difference between getting lost in the wide range of choices and standing out as the preferred choice for the customer.
KEY COMPONENTS OF BRAND POSITIONING
For who, for when, for where? A clear description of the target market that helps customers determine which brands address their needs and which don’t. Tis could be either a particular type of person (e.g., fitness enthusiasts seeking healthy snack options), a particular usage situation (e.g., when you need to decorate your house), and/or a particular usage location (e.g., when you’re on a run).
What value? A simple description of the unique value the brand offers, conveyed from a customer’s perspective. Tis will become the thing for which the brand is known for.
Tere are generally four types of value that customers can gain from a product or service, namely: economic value (i.e., providing monetary savings), functional value (i.e., features), experiential value (i.e., emotional or psychological benefits), and social value.
Why and how? Using proof points provide customers with reasons to believe the brand’s claims e.g., technological and scientific data, customer testimonials, celebrity endorsements, and product demonstrations.
Relative to whom? Tis is a clear description of the competitive set you compete in and the alternatives that customers may be considering. In this section of the positioning statement it can help differentiate the brand as something very different in customers’ minds, for example, Tesla positioned itself as more than just another car manufacturer; it redefined the entire experience of owning a car.
Te four components of positioning statements can be summarised in this general format: For (target market), Brand X is the only brand within (competitive set) that (unique value claim) because (reasons to believe).
BRAND POSITIONING: BETTING & GAMING
Within betting and gaming, operator brand positionings are a multifaceted endeavour which encompass product specialisation, user experience, promotional strategies, and reputation management.
A common positioning approach is through emphasising product specialisation. Some operators focus on a specific vertical, such as sports betting, online casinos, or poker, aiming to excel in a particular niche. For example, PokerStars has built a strong reputation for excellence in the online poker vertical, attracting millions of players from around the globe.
Others differentiate themselves through their approach to user experience, from sleek website designs to intuitive mobile apps. Betfair for example, has invested significantly in creating user-friendly platforms for its customers, focusing on delivering seamless and intuitive experiences across its website and mobile applications. Betfair's positioning emphasises its commitment to providing a superior user experience, setting it apart from competitors and appealing to customers who value ease of use and convenience in their betting and gaming activities.
Many operators focus on promotional strategies and bonuses. While incentives like welcome bonuses or free bets are similar, the way these promotions are framed and delivered can vary
WIRE / PULSE / INSIGHT / REPORTS P33
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