The Value Of Situs
Situs is a real estate term that simply means the location of a property. The proximity of a particular site relative to desired destinations and resources influences the value of the property. Even the most inexperienced agent knows the real estate game is all about three things: location, location, location.
The value of situs is not specific to real estate. It is applies to all aspects of life. The top shelf, the higher ground, the corner office, the head of the table and in the drivers seat are all examples of colloquial expressions we use to connote the importance of occupying a favorable position. The concept of situs pertains to brand positioning as well. The space your brand occupies in the market determines its perceived value.
The question is… is your brand in the right place?
Being just like them (a competitor)… only a little cheaper, is never the right place. That’s what Seth Godin calls a race to the bottom and as he points out, “the problem with the race to the bottom is that you might win.”
So, what’s the right place for your brand? That depends on 1) which attribute your fans (target customers) find most valuable and 2) what you can deliver. Unlike real estate, occupying a brand position is active, not passive. It’s not good enough to be next to something valuable. A successful brand must continuously deliver on its brand promise. That promise is the brand’s “est?” If it says it is the biggest, fastest, strongest, smartest, easiest, or friendliest it must actually be the biggest, fastest, strongest, smartest, easiest, or friendliest.
Never strive to be the cheapest (see Seth’s quote above).
Reminder:
A good positioning statement goes something like this: We do this thing for these people in this way. That means there are only three ways to differentiate your brand or occupy a unique position:
The thing you do
The people you serve
The way in which you conduct your business.
That’s it. So, what makes your brand different? What ever it is... be the best at it
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