Brand Repositioning Tips and Strategies

Many businesses, both small and big, have at one time or other been forced to reposition their brands. Brand repositioning means changing how a customer understands a product or company. Usually, this involves changes in the brand’s personality and promise. As part of the repositioning, changes are often made to the company’s marketing strategy in areas like product, place, price, and promotion.

An example of brand repositioning could be a brick-and-mortar bakery now extending its services to include catering and delivery. A hotel expanding by opening a motel chain or a video production company venturing into remote video production services are other examples of brand repositioning.

A number of factors may necessitate brand repositioning. It could, for instance, be due to unforeseen or external factors, such as changes in the market environment or changes in competition. For example, if you suddenly experience slow sales, you might want to consider brand repositioning. Similarly, if your industry has been disrupted by new technology or if you see a window to boost demand for your products, repositioning your brand may be a good option.

Spotify is a good example of a brand that repositioned itself. The company had to act fast in 2020 when its advertising revenue took a nosedive. In addition, Spotify had discovered that consumers were more interested in a personal experience. In response, the Swedish music company moved to a subscription service without ads and brought in customizable features based on customer feedback.

In the life of a brand, repositioning is common and should even be encouraged. However, having noted that, as you consider your pivot strategy, avoid veering too far from your original brand or product offerings. If you shift too quickly or are very radical, it could hurt you in the long run. It’s better to focus on the offerings you are good at or venture into closely related products. Make sure you continue to focus on your strongest products or offerings during the repositioning process.

Although repositioning can be instrumental to the long-term success of your brand, it can also be risky and nerve-racking. A good rule of thumb is to learn everything you possibly can. For example, know both your competition and audience and perhaps more significantly, know your own brand or offerings inside and out. Use the knowledge to identify what issues you want to address, chart where you want to go, and project how far you can go with the reposition efforts.

In a brand repositioning strategy, public perception is crucial, and here social listening is key. Track public mentions and conversations about your product, as this can give you insights into consumers’ views about your company. Are they consistent with your brand as you want it to be seen? If not, you can then seek to reposition your brand to direct the public perception.

It’s useful to share what inspired you to undertake the brand repositioning. Tell your story in a way that helps people relate to your product or brand to create the ground for success. Flood your social media channels, blogs, and website with your story, as well as the thought process that triggered your repositioning initiative. People may appreciate your transparency and possibly develop a stronger emotional bond with your company.

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