Narrative-driven brand positioning must reflect the company’s strategy, desire to build brand equity and need to satisfy multiple target audiences through one framework.
Marketers have for long relied on certain strategic principles when it comes to branding, positioning, awareness, equity and loyalty among other factors. But this idea of positioning the brand for a single group of target audience is dated. Marketers often end up with overly simplistic and singularly focused brand-positioning statements that best serve singular goals.
Such single goal-oriented statements prove inadequate especially for service companies that seek a competitive advantage across a broad system of activities. As a remedy, a new framework that brings together multiple but relevant narratives and feeds into the overall brand positioning must be considered.
Similarly, traditional brand statements fall short of differentiating between vision, mission, positioning and values. Marketers today need a model that can shrink different conversations around these five factors and instead create a framework that simultaneously runs five to seven core narratives.
[5 minute read]