In its best form, a brand positioning strategy for a company unifies all customer-facing comms and marketing activities. It highlights who the target audience is, and why they need your product (and how you’re going to make sure they know that).
More importantly, in today’s age of digitalization, with Debenhams and Arcadia Group being bought by online giants Asos and Boohoo, and now GAP planning to close stores in UK, France, and Italy as part of their European review, positioning your brand online is more important than ever.
That’s where RACE comes in – a dedicated marketing structure your brand can use to integrate your customers’ experiences of your brand, across multiple touchpoints during their customer journey:
From finding and reaching your customers to that first all-important interaction, then conversion and loyalty engagement, RACE walks you through each step of your brand strategy, to help you position your consumer branded goods to attract high-value customers.
Whether your customers are online, in your store, or both, RACE offers marketers and managers a tried-and-tested framework for optimizing their strategies and growing their businesses. At each stage of your customers’ journeys, you can use the RACE Framework to set objectives, measure performance, and adapt your multichannel tactics.
The first stage of RACE is, of course, the planning phase. If you’re creating a new brand positioning strategy, or want to reevaluate your market position, sturdy planning will support your marketing funnel later down the line.
“Brand” is often taken to just mean brand identity. But branding is much more than the identity as indicated by the logo, colors, and typography. Branding also requires you to review your key audiences and how they perceive your brand proposition compared to competitors.
The diagram below, from our brand audit and marketplace analysis template, shows how product, culture, and reputation feed into a company’s single organizing principle.
We recommend using this principle to inform your brand positioning strategy, including branding on your website, print, and other media assets where your brand values need to be defined.
Business Members can instantly access more brand audit and marketplace analysis templates via our 24/7 online resource library. All our marketing resources are integrated within our RACE Framework, so you can be confident that your marketing strategy is working efficiently and effectively for your brand.
When you define your brand objectives according to their position in the RACE Framework, you can set strategies and KPIs to track your success.
In the example below, if your objective was to increase interaction on your site (ACT) your strategies would involve cross-channel campaigns focused on OVP and social media regular features, and you would measure conversion to signup on the site.
The example gives developing product and supplier selector functionality and featuring more selectors more prominently on the home page and across the site as strategies to CONVERT more customers. This would be measured by conversion rate to selectors and the number of unique viewers who view the product.
As you can see, using the RACE Framework to consolidate and streamline your marketing strategy is a no-brainer. Brands, in particular, can benefit from planning, managing, and optimizing their marketing and positioning through our tried-and-tested process.
Omnichannel doesn’t have to be complex. We’re helping startups, enterprises, and teams strategize their paid, owned, and earned media, and digital experiences, across the integrated multi-touchpoint lifecycle of reach, act, convert, and engage.
What’s more, we have resources dedicated to brand positioning strategy, brand development and growth, product marketing, and more. Find out how your consumer branded goods business can benefit from joining Smart Insights.