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Market Positioning in the Digital Space

We are the stories we tell. You know, stories are what keep us united. Have you ever thought why?

Maybe stories leave us with memories and connections. But most importantly stories add value to our lives and our identities. It is what makes us unique.
Great stories also have the potential to drive businesses. Well, it is what makes business ideas unique. The uniqueness of the business is what helps it claim a unique position.

Interestingly enough there is ‘Positioning’ in marketing. Positioning was coined by Ted Bats and Trout in 1980 to understand and cope with Japanese competition in marketing. Why is this important anyway?

Why does Positioning Matter?

Well, interestingly people generally buy your product for who you are and how you add value to your customers. How you let your customers perceive you, builds your positioning. Fundamentally, positioning boils down to the company’s impression in the customer’s mind.

Letting your customers know about your uniqueness helps you accentuate your positioning. Remember if your customers understand you, they bring in more customers. Here are a few things you might want to consider to help you get started.

  • Understand what your customer is looking for.
  • Work on building your niche. A niche helps you sharpen your focus and thus improve the quality of your offering.
  • Analysing the marketing segments, help you find a specific target audience.

Having a statement would help you navigate through all these requirements.

The Positioning Statement

A positioning statement for your marketing segment would guide you in capturing the attention of your clients. A positioning statement must include the following:

  1. How your offering serves the purpose of your clients.
  2. How are you different from the rest of your competitors from the customer’s perspective?

Why your customers must believe you.

A Positioning statement helps you come up with effective strategies to stand out as a unique business among others. So let’s peek into different strategies.

Five basic Positioning Strategies

Positioning does not solely involve marketing strategy. Your positioning strategies must work in tandem with your business, marketing, and sales strategy.

Here are 5 basic strategies to get you kick-started

1. Positioning based on the Nature or the value of the product

Appeal to your customers by talking about the nature of your brand. This addresses the core value of your brand.

Let’s look at an example to understand better. If you are to choose between an iPhone and a phone of any other brand, which one would you choose? The moment we see iPhone we want to buy it right!!

In simple terms, everyone likes it so you want to buy it isn’t it? Although this might seem true, there is a deeper phenomenon at play here.

If you read Isaacson’s Steve Jobs, you would understand that Jobs always wanted to challenge the status quo.

Jobs thought differently. That’s why the tag-line “Think Differently.” In fact, if you closely observe we are drawn to most Apple products.

2. Positioning based on the Cost

After such a high-value fiesta, let’s look at something simple. You might have already guessed by now. This strategy simply lets you claim your presence through price.

Ah, who can ever forget 2016? That year gave us JIO. Remember those unlimited internet and call offers. Yep JIO simply used this strategy to claim its positioning in the market.

JIO simply had the cheap and best offer. In fact, it did leave a lasting impact on the telecommunication industry.

3. Positioning based on the Quality of the product

All of us go to the supermarket at least once every two days and shop for what we need. We sometimes don’t usually buy products if they are too pricey.

But this may not always be true. Let me break your surprise. Think of BMW and Maruti. Nowadays, more customers opt for a BMW over Maruti although both are cars.

This is because people know that BMW is of better quality and few people don’t mind spending exorbitantly for quality. They simply understand the quality of the product.

Building customer trust for quality is a time-consuming process albeit a worthwhile one

4. Positioning based on Product Application

Positioning your product for the specific need of your customer helps you market your product faster.

Even our local street vendors adopt this strategy. A brilliant example is of the beeda vendors just outside big restaurants, they exactly know that the customers want a great beeda after a heavy meal.

5. Positioning to stand out among competitors

In this strategy, you analyze the offerings of your competitors and see where you can fill in the gap. Based on your analysis, you could offer a special feature in the same price range.

For instance, a smartphone brand might offer a sophisticated camera lens within the medium price range and mark its own streak in the competition.

In fact, Moto One Power started off with its 5000 mAh powerful battery feature. Soon we had Samsung jumping into the competition with their M31 series offering a great battery and camera features.

Given that marketing has gone digital, let’s see the role of positioning in Digital Marketing.

Positioning in Digital Marketing

We live in an age where technology ticks faster than time. Although this sounds exaggerated, it simply captures the pace at which digital technology is advancing.

Digital marketing; therefore, is of utmost importance if you want to work on your market positioning.

The good news is that we know you are serious. Cos you are reading this blog. Without further ado, let’s jump into this idea. 

Say HI to Google

Make Google your friend. There is no bigger player in positioning than Google. In fact, Google started off with the idea of page ranking. Of course, now they have complex algorithms that help them achieve this.

Google understands relevance, so look at fields closely related to your niche and start talking about them online. Now, if you are a starter, here is how you can achieve this.

Your primary agenda must be to engage your audience. We know this might come across as a boring cliché.

Notice, you’d buy something, more so if your friend suggests than a company’s suggestion. Engaging your audience online precisely serves this purpose.

If you let your audience talk to others about your brand on behalf of you, Google will start noticing you. Exciting isn’t it?

Okay so how do you make all of this happen?

Blogs are your pals

Start a blog and figure out what do people want to know about your niche. Ask them process- oriented questions, encourage them to think.

You know, your customers’ thoughts will lead to interesting ideas and conversations.

Discussion Forums

Stroll around digital forums related to your niche. Understand the theme of discussion on these forums.

Provide valuable feedbacks. Consistent valuable feedback will attract a large audience base.

Let Quora and Reddit be your adda for this. 

Social Media

People spend more of their time on social media than on any other digital spaces. This is a boon for your positioning.

The best part about social media is that each platform has age-specific active users. In short, social media platforms are quietly waiting for their potential to be effectively tapped into.

Your social circle is on Facebook, Instagram, and Twitter.

Whoof!! Now that’s a lot, right? If you resonate with this, you could always approach a digital marketing agency like us. We will help you sail through all things related to digital marketing and digital presence

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