The current situation has changed and that is why repositioning your brand is vital to stand out even more.
To reposition a brand you have to take into account that everything has changed: customers have new needs, buyers have changed… Even consumer habits have undergone a drastic mutation.
With all these changes in life, in people and in their priorities …. the definition of “quality” may have changed for your target customer. This is why it will be necessary to renew, redefine or reposition your brand, always understanding what your customer is looking for today.
As marketing experts, today we bring you a series of tips and advice on how to successfully reposition your brand and adapt to the new market situation. Are you ready?
1. Conduct a situation analysis with the 3Cs: company, competition and customers.
The 3Cs are the three pillars on which the structure of the brand repositioning plan is then designed and created. It is time to stop and think, introspect about our brand and answer the following questions: what do you do, who do you do it for and why do you do it?
We need to gather as much information as possible about our niche market. This may help to answer the following questions:
- What are the attributes of the product or service to which your target group reacts favourably?
- Who are your competitors and what is their positioning strategy?
- How has the current COVID-19 situation affected your direct competition?
- What are your target customers looking for today?
- How has the new normal affected your sales?
- Have the needs of your niche market and consumer habits changed?
- How are competing brands perceived in relation to these distinguishing features?
- What would be the best marketing and communication mix to position yourself in your target audience’s mind?
- What resources do you have to develop a campaign to position your brand?
2. Take advantage of existing gaps to grow your business.
When repositioning our brand, it is strategic to take advantage of the spaces left by our competitors that are of interest to us. Update the competitive advantages and the differential factor you offer to users. Differentiate yourself by positioning yourself in a way that cannot be imitated by your competitors in the short term, with benefits that are relevant to the consumer.
How can you achieve this?
Visualise the competitive phenomena in the market and analyse attractive areas where other brands have not positioned themselves. Find the ideal spot on the map in the market where you want to stand out (nearest brands, furthest brands and the reasons for their situation) and run simulations to analyse the results, to avoid investing resources in vain.
3. Develop a plan to reposition your brand.
Finally, with all the information outlined in the previous points, you need to define in writing the current situation to establish what your goal will be.
Once this is done, the various actions to be carried out are listed, with timelines and/or success criteria, so that you can constantly monitor progress until the desired results are achieved, leaving nothing to chance.
Integrate your positioning strategy with the company’s media outlets.
-Increase your online contentaccording to the differential value proposition. If there is one thing the quarantine has taught us, it is the importance of digital transformation. Your target customer and your entire audience community are nowadays mainly on the Internet. If you don’t get involved, someone else will and take your customers.
–Interact with your audience. Build a good online reputation, seeking to prioritise engagement with your audience. Take care of your customer. Convert unknown users into loyal followers of your brand. Empathise and personify your brand.
At WDi Group we are here to help you with the repositioning of your brand. By positioning yourself in the front row at the point of sale, improving your online communication strategy, proposing events adapted to the new normality or creating the best brand experiences, what are you waiting for to reposition your brand?