POSITIONING VS BRANDING: WHO YOU ARE & WHY YOU MATTER
There is a significant difference between the two words. It is important that you as a small business owner can distinguish between the two.
In the past I have referred to a book, “Positioning,” written by Ries and Trout who invented the concept of positioning in 1969. Their definition: “Positioning is not what you do to a product. Positioning is what you do the mind of the prospect.”
The problem is, many small business owners equate positioning with branding. The words are often used interchangeably. But positioning is actually upstream from branding. You must determine your ideal location in the market before you work on the brand. That requires you to know exactly who you are and why you matter (what you bring to the market that others don’t.)
The following is from a book written by Andy Cunningham:
“The ideal positioning statement is factual and logical, maybe even a bit dull. It is an expression of a company’s strategy laid out in precise phrases that convey competitive differentiation, that convey who you are and why you matter. It pinpoints a company’s role and relevance in the market place over the next year or so, highlighting only what the company believes it can own in the near future. It is something only your company can lay claim to – something only you can say – and it makes clear you’re something to someone rather than trying to be all things to all people.”
The key to maximizing competitive advantage is to position your company in the market so you can win. Your position serves as the bridge between your business strategy and the face you ultimately present to the world.
This is not your unlimited Vision Statement. Positioning is a promise which you can deliver in the near future, and you are the only one who can actually make the promise and deliver on it.
Take some time today and answer the following: Who You Are and Why You Matter. Add to that your promise to your target market that only you can deliver.
Please share with me your answers to the three questions.
Advice and tips by Nick Petra – CFP, Mentor, and founder of BizQuack and StrategicDuck
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