There are many reasons why a brand might need to invest in brand positioning. In our work, we see businesses thinking about repositioning for many reasons. Sales might be declining. Your target audience may have shifted. You may have realized you’re targeting the wrong people.
Your product roadmap has evolved. Competitors may have entered your space and you can’t seem to differentiate your value. Maybe, customers even perceive your brand as outdated or irrelevant. Over the past few years, we’ve seen a number of ecosystems overcrowding. As a result, it’s almost impossible to differentiate one brand from another. This makes it hard for continued growth and even harder to get the valuations most companies are looking for.
There is a diverse array of reasons to consider a brand positioning project for your business. Investing in brand positioning can better situate your business to achieve the business goals you are looking to achieve.
So, Is it Time to Reposition?
Even outside the volatile technology world, many companies are repositioning as a result of market shifts, emerging technology, and ruthless competition. It’s hard to know when it’s the right time to reposition. Be cognizant of whether your brand is working hard enough to support the kind of growth you are looking for. Look for early warning signs and don’t disregard a slow-down. Here are some top signs that indicate it might be time to reposition:
- Your category is outdated or no longer fits the projection of your business.
- You aren’t reaching the people you need to, or your key audiences have shifted.
- The market is defining you differently than how you want to be defined.
- Your business is no longer aligned to your brand strategy.
- Your messaging is inconsistent and not doing the work you need it to.
- Growth has stalled.
- You are being out-marketed, out-branded, and out-sold.
Investing in a brand positioning project could be one of the best return on investments for your business and your brand – driving growth, fostering alignment, and situating your business and brand to thrive in even the most competitive of landscapes.
Brand Positioning, Done Right
Positioning your business correctly helps separate your brand from its competitors. Because getting to the heart of customers’ rational and emotional needs situates your brand to hold more meaning with the people who you want to reach, you allow your brand’s value to ring true and deposition even your strongest competitors. Clearly articulating your inherent distinction as a brand is valuable. It enables your business to always be on the offense.
Strong positioning also helps define where you stand as a brand. By creating focus and resolution around where you stand, you elevate your value proposition and drive ROI.
Brand positioning requires understanding your target audiences and their needs, identifying your category, and being incredibly clear about what you do, how you are different, and what value you deliver that nobody else can. So by developing a strong brand positioning, you enable everyone within your company to execute in their roles more easily.
In addition, rolling out a clear brand positioning externally will help your stakeholders understand your value proposition more clearly. You’ll find that this clarity will motivate your sales and marketing teams with a renewed energy. You will see revenues climb again and you’ll meet business goals with greater ease.
Customers’ needs will shift and sales challenges will occur. As things shift and challenges arise (and they will), having a strong stake in the market with your new brand position will help your business keep pace – delivering exactly what your business needs to create a dynamic, adaptable, and agile brand.