3 Attributes of an Effective Positioning Statement For The DNA of Your Company
Friday, September 11th, 2015
Positioning has an important role to play in a brand. It can be considered as the DNA of your brand. Your brand’s public communications are largely based on your positioning statement. Considering the vital role played by positioning, how will you craft a strong and accurate positioning statement for your company operating in the vertical of life sciences? What are the attributes an effective positioning statement should have? This post offers an insight into creating a winning positioning statement for your life science company and highlights some of the factors to consider to craft such a statement.
What is Positioning?
The job of the positioning statement is to define your brand’s position clearly, i.e., the space in the mind of your audience that belongs to your brand only. Positioning comes down to differentiating your life science brand from that of your rivals, and so, it’s important to get the language right that explains your positioning.
Positioning Statement Template
You can find a number of templates for positioning statement. Here is one that can prove to be quite helpful. You can use this template as framework to craft a solid and effective positioning.
“For (target audience) + Brand X is the only (market context) + that (unique benefit delivered) + because (reasons to believe).”
The key components in this positioning statement are: Target Audience, Market Context, Unique Benefits, and Reasons to Believe. You need to get a thorough understanding of each of these components before proceeding to create your brand’s positioning statement.
Things to Consider when Crafting a Positioning Statement
The positioning statement of your brand is NOT your website’s introductory paragraph, your company’s elevator pitch, or your tag line. The positioning statement of a brand is entirely private. Just like you won’t share your business plan details with your competitors or audience, similarly you won’t share the positioning statement. Since this is private, no need to make the statement sound appealing to your audience. Apart from being unique, the positioning statement should also be relevant, sustainable, clear, authentic and defensible. It should be true to the core character of your brand.
Here are some factors to consider when creating your brand’s positioning statement:
The toughest part of crafting the positioning is figuring out what truly makes your brand different from others. Identifying the factors that truly set your brand apart from others, is not easy, but is certainly worth investing time on. Like most activities in marketing, figuring this out would be simpler if you understand your audience clearly, as well as their behavior and attitude in making purchases.
Your positioning statement must have uniqueness. If it isn’t unique, either the brand is a type of commodity, or the positioning of your brand is not specific enough. No one else among your competitors should come up with a positioning statement that’s identical to yours. Usually, for most competitors, the “market context” and “target audience” are generally same, however, uniqueness must be there in either “reasons to believe” or “benefits”. You would have a stronger positioning if your “benefits” are unique.
2. Focus on Target Audience, rather than all Audience
You must focus narrowly on your target audience. Businesses often tend to define their target audience too broadly. Your brand’s positioning should target a small segment only, but would have relevancy with other audiences outside that segment also.
3. Unique Benefits should be Compelling
The unique benefits should be really compelling and motivating advantages for your target audience. It’s better to have specific benefits instead of general benefits. They would also have more uniqueness. You don’t need to match up every benefit to a certain reason to believe. As a whole, reasons to believe have to serve as the proof for the brand’s ability to provide the unique benefits.
Thomas Miller is the senior most marketing analyst and advisor at Vintelli, a smart business directory for online listing. He is also a part time Web Consultant at B3NET Bio, a leading life science digital marketing agency. His 9 years of expertise in online marketing enables him to serve both B2C and B2B communities with better guidance.