How can you use data to refine your brand positioning over time?

Every touchpoint is a source of insights for companies, and which insights matter most determines a company's brand strategy.

Firstly, you must not ignore any online touchpoints where your customers or potential customers can connect with your brand and product/service. Secondly, keep a tab on alerts of reviews, mentions and testimonials you might receive on your brand and product/service's social media pages. They tell a lot about public perception, satisfaction and help you make improvement. Thirdly, measure your online engagement like comments, shares and likes on your social media posts, website traffic, click-through rates (if you are running a digital campaign, etc. Lastly, more reviews or comments do not mean happy/satisfied customers. Do a qualitative assessment.

Data plays a pivotal rolе in rеfining brand positioning ovеr timе. By collеcting and analyzing customеr fееdback, monitoring compеtitors, studying wеbsitе and social mеdia analytics, undеrstanding customеr dеmographics, and tracking kеy pеrformancе indicators, brands can adapt and rеalign thеir mеssaging, valuеs, and stratеgiеs to mееt changing markеt dynamics and customеr prеfеrеncеs. Thе itеrativе usе of data еnablеs brands to stay rеlеvant, еffеctivеly rеsonatе with thеir targеt audiеncе, and maintain a compеtitivе еdgе in thеir rеspеctivе industriеs.

"Data-Driven Narratives: Guiding Brands, Catalyzing Success!" Insights: Decode user engagement, spotlighting loved features. Shape your narrative around valued functionalities. Advocacy Stories: Humanize data with triumph narratives. Turn them into impactful testimonials, magnetizing businesses with similar challenges. Competitor Benchmarking: Innovate by analyzing strengths, weaknesses, and gaps. Position your brand strategically, letting data craft standout messaging. In essence, adaptability and resonance define your brand's narrative. Use data as a GPS, evolve with insights, and make informed decisions in the dynamic market.

Instead of drowning in numbers, my old employer focused on the metrics that revealed the pulse of our brand, such as awareness, engagement, and conversion. What made them exceptional was their commitment to understanding our audience on a deeper level. Particularly painpoints that we could solve. This human touch to data gathering allowed us to see how people perceived our brand, what they valued, and how they behaved. Here's a reminder that behind every data point, there's a real person with thoughts, needs, and feelings.

If you are a writer, or aspiring to be one : Consistently analyzing data from your blog and SEO tools is a superpower. You can adapt your brand positioning effectively, ensuring it resonates with your audience’s evolving needs and preferences. In the world of brand strategy - performance tracking is a long-term relationship- which requires attention, nurturing and knowing what your partner is thinking or trying to communicate.

Once you have defined your right data points and measurement metrics, it then becomes easier to track or monitor or compare your performance.

Take cues from your competitors. Analyse their communication viz. advertisements, social media posts for tone, colours, fonts, music, use of humans, wit. It helps you to know what your brand lacks and how you can improve it. For example, India has two food delivery giants- Zomato & Swiggy. Both offer competitive prices. But, if you compare their social media presence, then Zomato wins both in terms of followers, zingy content and public acceptability ; despite getting into some big controversies and share price downfall.

As a marketer, I often find it incredible when I learn that an organization does not have nor maintain a comprehensive SWOT analysis. For me, I find this to be an essential tool across the enterprise . Competitive insights help support sales enablement by delivering insights on how to maneuver against alternate pricing, products and new market entrants. SWOTs enable CFOs to better understand the landscape and allocate funds according, with intelligent data. HR can leverage them as retention or acquisition tools, and R&D teams can benefit from them to stay informed on market trends, demand and expectations.

Benchmarking is a must if you want to know better about what your competitors are thriving at and what not, so you can use this information as a way of exploring new ideas that maybe you didn't think of before, and try something new for your strategies.

Brand testing doesn’t just occur in surveys or groups. Every interaction between a brand and consumer is a test of that brands position and strategy. The brand needs to approach brand planning and campaign execution as equally valuable research exercises and behave accordingly.

Brand touch points are the most significant index that can monitor brand connect and performance. Touch points are not only emails, cold outreach, social media messages or sms but can also include events, campaigns, store visits, community connections, post sales service connects, relative assistance and many more. Conventionally brands only record stereo typically surveys and forms but they need to understand why their customers are loyal or why do the bounce of to another brand. Customer trials, influencer marketing, co-branding and collaboration cannot only introduce your brand but also help you to harmonize brands with each other. Why to compete if you can collaborate, harmonize and capture.

A/B testing is probably my favorite way of testing the performance of the individual assets that we use in our marketing campaigns. For example, me and my team make at least two versions of one video for a campaign focused on lead generation, and when one goes better than the other, it's pretty clear to us how we have to do the next one.

I've seen too many brands remain static, thinking their initial positioning will hold forever. The truth is, that markets evolve, consumers change, and so should brand positioning. It is essential to grow, learn, and adapt. What worked five years ago might be irrelevant today. The most successful brands I've worked with treat feedback as gold, using it not just as a metric but as a compass. Regularly revisiting and tweaking your brand based on feedback ensures it remains resonant and compelling. And remember, consistency is key! Once you've refined your positioning, it's crucial that every team member, from marketing to customer service, embodies and communicates that refreshed identity. It's a journey, not a one-time task.

Change is part of our everyday life. Brands, just like people, change with the years, so it's very important not to be afraid of what the future holds. Listen to what people think about your brand today, it doesn't matter if you have been in the market for 10, 20 years, or more, even the oldest companies need to stay up to date on consumers' behavior and new technology.

In my experience, it's all about baby steps. Start small and scale accordingly to what works. Start where you think you have the best chance to succeed. Then from there let data guide your insights. How did it perform? Were there any consumer behaviors out of the ordinary that could lead to an insight? Have people been reaching out with common asks? These data points can help inform where your marketing needs to actually be so start to make small adjustments towards these insights. If you see success, continue to move towards this slowly until you found your zone. You can do a hard reset but not every consumer will see it, a slow transition brings your consumers along the brands journey and growth!

I have two other contributions to make. They are: Behavioural Analytics: Dive deep into how users interact with your products, services, and content. Tools that track mouse movements, click-through rates, and session durations can provide invaluable insights. For instance, if users consistently drop off a product page, it might be a sign to adjust how the product aligns with your brand's promise. An example of a behavioural analytical tool is Hotjar. 2. Social Listening: Monitor conversations around keywords related to your industry, not just your brand. This gives insights into broader market sentiments and can highlight emerging trends or shifts in perception.

Another way to refine brand positioning is by studying your competition. Learn their positioning strategies, messaging, and value proposition. Learn what's working for them and where they fall short in the market. That gap is your opportunity to fill a need in your market.

Utilize data analytics to regularly assess market trends, customer feedback, and competitive insights, allowing you to iteratively refine your brand positioning over time, ensuring alignment with evolving consumer preferences and market dynamics.