Earlier this week we were lucky enough to have the opportunity to speak to Nick Eubanks, Chief Strategy Officer at From The Future (FTF). We took the chance to speak to Nick about all things related to creating a strong brand positioning and how to maintain said position within your industry. Within the 30-minute debrief from Nick accompanied by our very own Head of SEO, Sophie Brannon, we learnt more about the meaning behind a strong brand positioning and the techniques Nick uses to get it on point. Read more about what you may have missed below!
What Does It Mean To Create A Strong Brand Positioning?
-The best evidence of creating a strong brand is not having to tell someone what you do.
-Define your messaging as much as you can – be clear and concise about what you want to say.
-Highlight what makes you different – what makes you stand out from your competitors?
-Identify what type of language your exact target audience will be using – you want to utilise this where you can!
-Take an additional step to consider what you do different or better.
-Think about what makes you enough to be a brand.
Is It Just A Matter Of Thinking About It, Or Are There Any Tactics To Strengthening Your Brand Positioning?
-Arrange a conversation with your existing and target clients to understand what is working well vs what could be done better.
-Think about the problem vs the solution – how can you benefit your target audience?
-Go deep within your niche – think about everything you know vs everything the customer knows. What can you capitalise on?
-Think about what you want to achieve – align your brand positioning with your goals and objectives.
Is It Worth Leaning Into A Niche If There’s Not Much Volume Behind It?
-Become the owner of a specific process that can be developed around your brand.
-Own your own space and make yourself known.
-Become the best in your niche – drill down into what is already available vs what is missing.
-Think about the opportunities available to you – go all the way deep into something!
-Remove the noise by turning away from the agencies you normally compete with, for example.
How Or When Should You Review Your Brand Positioning?
-It can change depending on market speed and trends.
-Review your brand positioning at least once a year (every 12 months).
-Categorise your clients and identify where the most revenue is being made.
-Look at replacing existing business with new business that is a better fit.
-Eventually, you’ll find yourself turning away business that no longer fits within your own.
-Simplify your messaging.
-Change your brand positioning if you see someone else doing something similar.
Is Brand Positioning Still Going To Be A Key Business Driver In Years To Come?
-The more people we see entering a market, the more important brand positioning becomes.
-It’s your best defence to stand out against your competition.
How Do You Measure The Success Of Your Brand Position?
-Conversion rate is a great one to look at to help you understand how the current positioning of your brand is impacting your bottom line.
-If you are closing more sales, then the chances are that your current positioning is working to your advantage.
-If you are struggling to attract new business think about where your brand could better else stand out.
Is There A Difference To A Brands Position Depending On Its Age?
-Demand isn’t going to go away.
-People will increase their budget to develop their position within the industry.
-More established agencies often find pivoting a lot more challenging as they already have processes etc in place.
-Reduce business risk where you can.
Do You Have Any Final Words Of Wisdom?
-Identify who your best customers are by revenue or by headache.
-Consider the types of businesses you enjoy working with the most.
-Forge relationships wherever possible (send coffees, beer, gift cards)
A huge thank you to Nick for joining us for another #AbsoluteTwitterSpace. We had a great time finding out more about the ins and outs to brand positioning within competitive and niche markets.
We’ll be back with another #AbsoluteTwitterSpace next month, during which we will discuss another highly requested topic of discussion. Keep your eyes peeled on social to be one of the first to be notified!
For more information, get in touch with a member of our expert team at Absolute Digital Media today on 0800 088 6000.
Jasmine has been a member of Absolute Digital Media’s team for almost five years now, having started her journey at the agency as a Digital Copywriter and progressing onto become read more.