Brand positioning matters for a couple of reasons. Good positioning of your brand results in clarity regarding your target audience. It also explains to your target market why they should choose you and what makes your goods or services unique. Because of this, your brand’s positioning may make or break it. Customers will return for more if you are different from the competition! Brand positioning also enables a pricing policy of higher prices, in exchange for greater added value in the eyes of the user. In other words, when a brand positions itself to emphasize quality and exclusivity, which drive up the price of its products, the cost immediately becomes acceptable in the eyes of the consumer.
Brand positioning is usually built on four principles: being unique, being relevant, being consistent and being credible.
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What is brand positioning?
Why is brand positioning crucial in 2023?
In 2022, the crypto market once again found itself in the so-called “bear run”, which causes a lot of problems for the majority of existing crypto projects and new projects coming to the market in obtaining seed capital and interest in their product / service. Confidence in crypto by the mainstream population has fallen sharply, which is reflected in smaller investments by “mainstream” investors, a significantly lower daily transaction volume of each token, and 10x less searches for keywords such as “bitcoin” and “ethereum”. on Google.
In such conditions, it is very difficult to launch a new crypto project, because the pessimism of the market distracts attention from your crypto project, even if it is the best project ever. Circumstances make it necessary to adapt the growth strategy to reality and outline growth on a smaller, niche scale. Most crypto brands need to improve their internal organizational processes and connect even more with their community in order to prepare for the scale that usually occurs when market conditions improve.
With the correct brand (re)positioning, the crypto project can ensure its existence today and prepare for rapid growth when the market indicators turn green again.
The difference between brand positioning and product positioning
What details should be included in brand positioning?
Deep awareness of your brand vision and your target audience, as well as what they get out of each engagement with your brand, is the foundation for effective brand positioning.
Start by responding to these queries:
Who is your ideal client?
What customer problems do you have a special ability to address?
What are your brand’s advantages and disadvantages?
What sets you apart from other brands in the market?
Which essential qualities do you wish to emphasize?
How do these qualities manifest themselves in dealings with customers?
These inquiries ought to spark discussion and exciting brainstorming sessions. At this point, it’s crucial to consider the brand thoroughly and comprehensively. To investigate and improve how you offer value to your clients, you want to bring in a large number of product users, especcialy in crypto or Web3.
Brand positioning templates as an integral part of your growth strategy
You can utilize the five brand positioning templates listed below as your work on positioning develops.
Brand positioning canvas
By creating a single statement about your good or service, the brand positioning canvas template helps you emphasize your distinctive value. The positioning canvas helps you define your brand positioning statement, brand essence, and brand personality while establishing and communicating your corporate value.
Brand positioning map
In order to detect market gaps that could be exploited, major competing brands’ market positions are mapped on the brand positioning map in accordance with important features or criteria, such as price, quality, and the scope of the services provided.
Brand attribute model
Without considering what you do or what you sell, brand qualities are what define your brand. It’s your brand’s basic beliefs and traits, or, to put it another way, its personality. Customers notice it when they consider your brand as a whole.
Brand positioning statement
A brand positioning statement provides a brief, succinct explanation of what your brand does, who you target, and the benefits of your brand. Although it should be used as a guide to make sure all material is consistent, the statement will often be an internal document.
Product positioning template
The process of determining where your product fits in the market in relation to its rivals as seen by your customers is known as product positioning. Using the product placement template, you may determine how your product should be positioned.
Brand positioning or re-positioning will be key in 2023 for all those crypto projects that are newly coming to the market or existing projects that have not done their job well in the past. In today’s crypto market turbulence, it is a great opportunity to improve your business models and enter the bull market in a pole position and be ready for any opportunity for rapid growth.
For more information on how to position your crypto / Web3 brand, contact Up-Growth.io Marketing Agency via email [email protected] or submit a request for a FREE CONSULTATION (click the button bellow) of your project and we will get in touch as soon as possible possible time.