Simply said, brand repositioning aims to change the audience’s perception of the brand to make it seem more appealing.
“Branding” is a term that everyone is now used to. Its “old school” description, “an identifying mark seared into something or someone using a branding iron,” captures that modern concept very well, but in a more gloomy and ominous sense. Customer perception of your business and goods is based on your brand.
All of these aspects are a part of your company’s brand and contribute to creating your brand identity, including your company’s logo, message, goods, customer service, and any social positions you take.
Evolution, however, is a need for existence and cannot be avoided like other things. Your brand must be able to adapt to remain in a dynamic, global, and fiercely competitive economy. We’re not talking about knocking your brand down and dragging it out until it’s reduced to nothing; instead, we’re talking about improvements that will help it develop.
Brand repositioning fits best between your current brand and a complete relaunch. This blog post will discuss brand repositioning, including its definition and practical use.
LEARN ABOUT: Perceived Value
What is brand repositioning?
Brand repositioning is how a business alters a brand’s position in the market while keeping its identity intact. Changes to the marketing strategy, such as product, price, location, or promotion, are frequently made as part of this process.
Repositioning is often carried out when a business experiences a drop in sales and realizes it is time to make some adjustments and grow. This is essential to keep their brand alive and remain on top of customer requirements and desires.
This is known as “brand repositioning,” when you alter what your target market associates with and expects from your brand. Repositioning your brand involves keeping the existing brand identity while making minor adjustments.
The concept of brand repositioning may include little changes like the inclusion of a secondary or tertiary color palette or major ones like a redesign of your logo.
LEARN ABOUT: Brand health
It’s worth noting that companies may effectively reposition themselves without completely rebranding.
How to reposition the brand?
Repositioning a company’s brand involves careful planning. It must be supported by the three pillars of listening, delivering, and convincing to succeed. Without the others, you cannot have one of these three points because they are all interrelated.
This implies that you may successfully reposition your brand by paying attention to your target audience, exceeding their expectations, and persuading them of your viewpoint. Apply this mixture consistently during the whole repositioning procedure.
You’ll offer your brand the best chance for a successful repositioning effort if you carefully follow these procedures.
Analyze brand position
Is your brand sick? Find the cause. Then you can diagnose. First, you must analyze your brand’s current state. Where is your brand now?
You can fix your brand if you know what’s wrong. Recognizing your present state and evaluating why you’re behind your competition can help you choose new routes and create growth.
You must investigate your concerns and make changes. Don’t make sweeping changes. Spending extra time and money is pointless. Identify where to apply your strategy. After identifying your weaknesses, you may create a plan to overcome them.
Re-establish your USP(unique value proposition)
After assessing your brand’s difficulties, you may envisage its future. First, re-define your company’s ideals and emotions. List your distinctive features. See how you’re distinct, even if it means recognizing a competitor’s strengths.
Identifying your distinct value proposition again should help you reposition your brand. Taking another look at your audience can help you locate your UVP.
- Who buys your products?
- Who needs your services the most?
- Want to reach a new audience?
- Consider your present and new consumer’s brand expectations.
Identify your product’s pain points. Cover up the spaces your rivals can’t fill for your audience.
Brand repositioning strategy
You may reposition your brand in several ways. The activities you undertake when moving your brand rely on your choice to do so and the desired results. Let’s discuss repositioning.
- Image repositioning – First, modify the brand’s image, not the product. Marketing efforts concentrate on boosting the product’s image and reputation instead of its characteristics.
- Intangible repositioning – Repositioning includes modifying a product’s target market. The initial effect may be less desirable owing to technical developments.
- Intangible repositioning – pursues a new market with the same product. This method is used when marketers realize that a product appeals to more consumers than the initial target category.
- Tangible repositioning – is the riskiest alteration to a company’s positioning plan. When a new product loses attractiveness in the current market, tangible repositioning helps the corporation seek new customers.
Brand repositioning implies not overlooking even little things since any flaws might affect the business’s image. Good time management, a budget, and responsible division are crucial to success.
Apply adjustments and listen to consumers.
Do you have everything? Then make modifications. Do more. Hear out your consumers. Ask them what they think of the changes and what feelings the new campaign generates.
Public perception is key to repositioning a brand. Thus, social listening is critical. You may watch public mentions of your brand or product to see what people say and if that matches your goals.
Use solutions like the QuestionPro research suite to automate this operation and gain real-time brand analysis. These systems also give ready-made reports from obtained data to speed up repositioning analysis.
Result analysis
Once you’ve finished brand repositioning, evaluate the results. Check whether your adjustments worked or not. Expect outcomes over time, not immediately. After a few weeks, compare the statistics. Sales up? Growing consumer base?
These signs might help you assess whether a procedure was successful or needs improvement.
Conclusion
Building your brand and ensuring people know about it takes a lot of work. At some point, you may need to think about repositioning your brand to make sure you stay successful.
Although brand repositioning might be unsettling, it is an inevitable growth stage for most businesses. Your brand will probably need to reposition at some point, whether that’s because of societal, technical, or commercial developments.
That’s another incredibly intriguing possibility. Your company doesn’t have to stay the same indefinitely. You have the option to change things up if they get monotonous or you want to.
In addition to survey software, QuestionPro offers solutions for every problem and industry. The Insights Hub, our research repository, illustrates the data management solutions we provide.
