In today’s marketing world, how you position and sell your brand will set you apart from the competition. Brand positioning could act as your core differentiator in busy markets. And it’s no surprise that Gen Z is increasingly becoming a favorite target audience among marketers and business owners following their high spending power.
We’ve prepared this short yet comprehensive article to help you better understand what brand positioning is and why it’s important. And some of the best brand positioning strategies for targeting these high-value Gen Z consumers.
So, What is Brand Positioning and Why is it Important?
Brand positioning is where a brand puts itself in the minds of its target consumers. You position your company as well as its products or services in the minds of the customers. Brand positioning is critical in determining and controlling your reputation or brand image.
When marketing, you get the chance to influence consumers’ perception of your products and services in relation to your competitors. So, basically, brand positioning allows you to differentiate yourself from competitors. Showing your products’ uniqueness as well as distinctive benefits.
And with the current brand-conscious consumers, especially Gen Z, efficient brand positioning would surely go a long way in placing your brand ahead of the competition. Here are five effective brand positioning strategies:
1. Differentiation Strategy
A differentiation strategy is where a brand focuses on the unique features of its products or services. A brand associates itself with specific benefits or features that its products or services provided. In comparison to what is commonly offered in the market.
For instance, your brand could adopt technological solutions in rendering services. This undoubtedly would be attractive to the tech-savvy Gen Z.
2. Convenience-based Strategy
A convenience-based strategy allows a brand to showcase why its products or services are more convenient or favorable. That can be according to their timeliness, ease of use, availability, as well as customer care, among other competitive angles.
For example, a restaurant or hotel could provide digital payment solutions in favor of traditional cash payments. Gen Z being ‘tech addicts’, they’re likely to prefer digital payments or tipping to using cash.
3. Price-based Strategy
Competitive pricing or positioning based on price is when a brand intends to be the most affordable option in a market. It’s basically offering the lowest prices as compared to competitors.
This strategy can result in a huge customer base as price-sensitive consumers will always choose your products. But then, it may depict a lower quality since they’re low-priced.
4. Quality-based Strategy
You can also position your brand based on the quality of your products. That can be as a result of their high levels of sustainability, durability, as well as compostability, among other factors. It may even be due to their high-end raw materials, which offer luxury to the users.
Usually, this may result in higher prices that resonate with the high quality. And that may prompt budget-mindful customers to overlook your products.
5. Competition-based Strategy
Positioning based on the competition allows brands to use their competitors as a basis for their differentiation. They can highlight the advantages and gains of their products over competitors’ products. In other words, you get to demonstrate why you’re the best in the market.
When positioning your brand, you need to be mindful of your target audience. So use strategies that align well with them. And when it comes to Gen Z, you need to note that they’re internet and social media enthusiasts. Hence, they’re likely to search and compare brands before shopping.
Unfortunately, these Gen Z consumers can sometimes be challenging, especially for startups and small business owners. They’re unlike in character compared to their millennial counterparts. But the good news is that you don’t need to worry anymore! We can help you connect your brand with ideal Gen Z influencers. Contact us today to learn more on how you can expand your brand reach with Gen Z influencers.