In order to maintain or strengthen your place in the market, we believe it’s crucial to regularly review and examine your current position, your target market and your competitors.
Having supported many brands, both large and small, with this process, we have noticed that we consistently tackle the same topics, the same set of questions. Below is a quick summary of those talking points.
1. How is your brand currently positioned? This goes beyond appraising what visual symbols and colours are being used to ensure you stand out in a crowded marketplace. It’s about what story are you telling, what language you are using and ensuring your brand persona and voice are being heard by your target customer.
2. Understanding your ideal customer, your personas, is critical to position your brand. By analysing existing data and understanding your demographic, behaviour patterns and motivations, you can better fulfil their needs in terms of price points, convenience, quality, experience and functionality.
3. Once you have analysed your own brand positioning, it’s important to examine how your competitors are positioned. Understanding who they are, what they offer and what their position in the market is, will highlight your strengths and weaknesses and inform how you can compete.
4. Really understanding who else is operating within your market will also help to identify and articulate how you are different and how you can be better. It’s about creating absolute value for customers, determining what is really influencing their decision making and developing effective service and marketing strategies seeking to truly serve their needs.
Once a clear market position and direction of travel has been established the next crucial challenge facing many marketing teams is to create a digital experience to reflect this. Identifying the digital tools available, estimating their impact and predicting potential challenges to come is all part and parcel of deploying a first-class digital experience.
Filter have been delivering digital transformation solutions to forward thinking organisations for some years now. Applying a grounded, sensible and grown up approach, Filter have been providing clear thinking and innovative solutions to many who grapple with navigating their digital transformation goals
