Facebook — Brand Positioning Strategy & Differentiation
When we start a business or a new brand, it is essential to aim for a long-term payoff for all our efforts and investments — A sustainable ROI. One of the ways to achieve that is to strive for getting maximum value from each customer(higher Customer Lifetime Value(CLTV)) — It means the brand should look for developing loyal customers.
The first step in building a loyal customer base is to position your brand inside a consumer’s mind that is called Brand Positioning. It is called the consumer’s perception of a brand with respect to competing brands.
The ways to enter their mind is
a) Becoming a leader in an existing product/service category(It would need massive investments in money, effort & time and not a practical option)
or
b) Becoming first in any new product/service category. In other words, you need to create a new listing.
Coke is the first cooldrink to enter the consumer’s mind under the Cola category. Seven-up is the first cooldrink under the Un-cola…