Have you ever asked yourself “what is the differential of my brand? What is the best business strategy?” If your answer is “no”, this is a good time to start.
It is impossible to prosper in any sector without knowing the target market. Therefore, it becomes necessary to segment the audience to carry out a study that allows them to discover and offer exactly what they need and expect.
However, it is useless to know your customers without using creativity to forge a brand that stands out for being innovative, that sells solutions that no one in the market has.
Market positioning is obtained through the active dissemination of products or services to build a brand reputation that occupies a privileged place in the minds of consumers.
By defining a positioning strategy, you will show the essence of your brand, which objectives you help to reach your audience, and with this you will discover in depth the differential of your brand.
Differential is what makes brands great in the market!
Why invest in differentiation?
How many brands of pens do you know? What about scrub sponges?
You have probably thought of several, and possibly most of them are the most popular on the market. But have you ever wondered why you remember the BIC pens and the Scotch Brite sponge?
There are hundreds of brands of ballpoint pens and scrub sponges, whose purpose is the same as their respective competitors; your product has characteristics that are very similar – if not the same – to the products in its category. It is difficult to differentiate.
And why do some people choose to exclusively buy pens and sponges from these brands and not from similar ones?
The answer is simple and complex at the same time: they identify with the values of the brand, which are different from those of other companies in the market. Neither superior nor inferior: different. But they end up becoming the top of mind of their consumers.
The differentiating factor is the set of characteristics (not necessarily physical) that make the offer of one company and another not quite the same and can hardly be imitated.
Differentiation must start from the company’s mission
The mission answers some of the most fundamental questions: why does your company exist? This is the most important part of strategic planning.
To define the mission of your company, it is interesting to answer three basic questions:
■ Why does the company exist?
■ What does the company do?
■ For whom?
The mission of a company can be summarized in a paragraph, a line or even in a few words. It is essential to achieve this:
■ It should be original and reflect the personality of your brand in a genuine way;
■ It should not lose its validity over time;
■ Make it memorable. The simpler and more objective, the better.
You must make people understand why you do what you do. If your company does not have a mission yet, try creating and committing to it.
Do not create a fictitious mission just to make your brand sell better; sincerely choose something that you and your employees believe in, and that reflects who you are as a person; after all, your brand is an extension of your personality.
Strategy, mission, and business model in tune
Once the strategy and mission have been defined, we look at the business model: are all the concepts in harmony?
Often, the strategy requires unfeasible costs for the reality of the company. Therefore, we need the flexibility to make the necessary adjustments and corrections.
Here we have a synchrony: the business model and the strategy must be malleable and modifiable to keep up with market changes, consumer habits and the company’s own expectations. This a continuous and permanent process.
By fully answering each of the questions proposed in this article, you will have the basis of the Business Plan of your company and the guidelines for the assembly of its strategic planning.
You must have a notion of the purpose of the company and everything that its construction implies. This information will help you not only to define your business, but also to understand its dynamics, being able to outline some scenarios so that you can take the next steps more firmly.
Most important of all is knowing your audience and paying attention if you are really doing your best to provide the best experience for your customers. This is also part of “building” your brand and standing out from the rest!