Business Chops Tip #52: Do You Have A Brand Positioning Statement?
Your brand positioning statement is the foundation of your marketing plan and clearly establishes how you are different from your competitors. More than an elevator pitch, your brand position is a critical success factor.
It helps you differentiate from competitors who leave branding to chance. It is a one-page document that answers four questions succinctly:
1. What business are we in? (Remember, your products are both the goods and services you offer.) 2. Who are our customers? 3. What makes us unique? 4. What's in it for everybody (customers, vendors, community, owners, stakeholders)? How clear is your brand positioning statement?
Author's Note: Creative and technical professionals (from musicians and actors to designers and engineers) rely on their "chops": those skills and techniques that they use to be successful on the job. Stiernberg Consulting coined the term Business Chops to encompass those skills, experience, and tactics that you rely on to be more successful. Whether you are a dealer, manufacturer, distributor, rep, or design firm, this series includes tips and techniques for optimizing sales, profits, and growth of your Custom Retail business.