Luxury Hoteliers Magazine 2nd Quarter 2022 | Page 68

Get

BRAVE

with your

BRAND in 2022

By Mark Forrester
A deep understanding of your market position and points of difference are prerequisites to staying competitive in today ' s saturated hospitality marketplace . This is truer today than it has ever been before . It won ’ t be enough to simply shout the loudest in 2022 , everyone will be shouting and the market will get noisy , very quickly .
So how do you stand out ?
Be brave ; challenge your brand and your brand ’ s positioning .
Positioning , brand or branding ?
Often these terms are used interchangeably , so let ’ s take a moment to clarify the difference .
Your positioning is the space you own in the mind of a customer and how you differentiate yourself from competitors .
Your brand is all about identifying how you make a customer feel . It ' s probably the most valuable part of your business and has the potential to drive significant , tangible , commercial value .
Branding is how we define the physical expression of your brand ; websites , signage , printed brochures etc .
68 ILHA