When we think of Tiffany & Co, many images come to mind. The signature blue gift box. Sparkling jewelry. It evokes images of Audrey Hepburn, and of celebrities and cinema. You associate the brand with elegance, glamour, and affluence. This is how positioning and branding work together to create a cohesive, flourishing business.
But what’s the difference and how can you apply both of these successfully in your own business? Follow along with our boutique branding agency as we share the difference between branding and positioning.
What is your brand and what do you want to be known for? When it comes to defining branding, it is often the subconscious thought that pops into your mind when you first think of a brand. For Nike, it’s probably the swoosh, or the tagline ‘Just Do It’. For Starbucks, it’s probably the green siren logo and trendy messaging.
What is Branding?
It can be the most visual aspects of your business, such as your logo, typography, and color palettes. Or it can be your messaging, such as a strong tagline or slogan. But ultimately, your branding is what comes to mind when you hear a brand name. It’s the feelings and impressions that the brand leaves on you.
Why Is Branding Important?
Branding encompasses such concepts as:
- How you present your brand online with your visual identity
- How you communicate with your audience on different platforms
- How you identify with your audience and their pain points
- How you solve your audience’s problems with products and services
If you don’t spend time figuring out your own branding and what you want to be known for in your market space — someone else is going to do it for you. Your branding is essential in not only building deeper insights into your own business, but standing out in a crowded market and drawing in the right type of customers.
What is Brand Positioning?
Positioning is closely tied to branding, but has its own unique place in your brand strategy. Positioning addresses where your brand stands in the marketplace when it comes to both your competitors and consumers.
Think back on our Tiffany & Co example and how they serve a very specific place in the market. They are often one of the first brands you think about when considering buying luxury, high-end, and elegant jewelry. That is how their audience categorizes their brand, which is exactly what you want to achieve with positioning.
Why Is Brand Positioning Important?
You need to understand your positioning in the market in order to stay relevant and competitive in the market. Positioning helps you to:
- Understand your consumer’s wants and needs
- Identify the people who are loyal to your brand
- Identify target market segments
- Learn what brands yours is associated with
- Stay up-to-date (and outplay!) your competition
Positioning, and creating a positioning statement, is a way to speak to the vision and position you want to achieve and maintain in your industry. It’s how you differentiate yourself from the competition and strengthen your own standing in the marketplace.
Transform Your Branding and Positioning With A Qualified Branding Agency
Nailing your branding and positioning is essential in a successful business that stands out from the crowd. At Drawing From Memory, our creative branding agency fuses strategic expertise with fine art roots, creating elevated brands that fully inhabit their unique identities in digital, retail, and beyond.
Are you ready to reveal your vision? Schedule a call.