What is Brand Repositioning? And more importantly, is it for you?

We recently decided to combine some of our expertise (brand audit, visual brand identity creation, and communication strategy) to offer a new service: Brand (Re) Positioning.

On this blog, we deep dive into what brand repositioning is, its benefits, and whether this is something you should be exploring for your business.

What is brand repositioning?

Brand positioning refers to the process of positioning your company in the mind of consumers. In other words, identifying a unique point of difference within your offering and communicating that difference through services or products that resonate with your audience.

With time your consumers may evolve and this initial brand positioning may lose its effectives, or maybe your growth will allow you to target a different market segment. When your initial brand positioning stops achieving its purpose, it’s time to reclaim the narrative surrounding your company or offering by reframing associations with your brand and redefining your place within the competitive landscape.

When should you consider repositioning your brand?

Your brand has lost relevance in the marketplace. The moment your brand fails to meet costumer’s needs, it loses relevance. This loss of relevance can be cause, amongst other reasons, by industry or technological changes, or increased competition. Whichever the reason, reframing the way consumers perceive your brand is the most effective way to regain relevance in their minds.

New target market. Sometimes an opportunity presents itself to reach a different market segment with your product or service. Targeting a new audience means catering to a whole new set of needs, challenges, and motivations. This means, you need to reposition your brand to make sure it’s meaningful to the new target audience.

Evolved offerings. As consumers’ needs develop, chances are your products and services do too. To maximize the potential of your products or services evolution, it’s essential to keep your brand positioning up to date. Repositioning your brand ensure that customer perceptions align with the full scope and capabilities of your products and/or services.

Increased competition. Your brand positioning is a key differentiator for your business. If you’re seeing a large influx of similar brands or products into the market landscape, it may signal the need to refine or redefine your UPD. Through brand repositioning you can clearly articulate why your brand is superior to the competition, helping you stand out in an increasingly crowded landscape.

What are some advantages of brand repositioning?

Clearer target market. A big part of the repositioning exercise requires an in-depth look at your audience and their needs. By identifying and getting better acquainted with the segments that make up your target market and zeroing in on the chosen segments, the brand will be better equipped to connect with its audience’s needs.

Stronger competitive positioning. By considering the latest market conditions and competitors, a refreshed positioning strategy will give the brand an enhanced competitive advantage. The way the refined differentiators are delivered through the brand’s communication mediums should strengthen the company’s perceived edge in the eyes of the consumers.

PR potential. Depending on the industry you’re in, your current brand awareness and the type of repositioning strategy, you may receive a reasonable amount of media attention, which in turn will help communicate and reinforce the product’s repositioning objectives.

Sales growth. By increasing the relevance of your offering to better align with your target audience’s needs, you’ll be in a better place to communicate the key benefits of your product or service, in turn growing your sales in the medium and long term.

Talent attraction. We tend to forget that employees are also consumers. By refining your positioning in the marketplace, you will be able to recruit and retain talented individuals that identify with your company’s ethos.

Brand repositioning is something most, if not all, business will need to tackle at some point in their life. As the world we live in becomes more dynamic and interconnected, so do the needs and motivations of consumers. Brand repositioning is the best way to ensure your company remains relevant in their eyes. Don’t know where to start? Not sure brand repositioning is for you? Let’s chat!