Repositioning is a combination of science and art, it is the ability to provide customers with an obvious, meaningful choice and the creation of an area of clear water between your organisation and the competitors. Successful repositioning disallows entry to your segment and ultimately fits your product, service or organisation into a segment of the broader market place, allowing you to reap business advantages.
In the fast-paced modern world we live in, agility is everything. A 2015 study by Havas Media Group found that most people would not care if 74% of all brands disappeared completely, and only 28% are said to notably improve people’s quality of life. Many brands are quickly losing their relevance because they fail to adapt, and fail to fit the changing needs of their audience.
In the digital age, consumers are increasingly preferring products or services that add top quality user experiences, which is leaving traditional rules of branding obsolete (big ideas, long-term margins and emotional appeal.)
However, in general terms, many brands are attempting to grow emotional love why deploying tired tactics – television commercials or pre-roll videos and static social advertising, for instance. Digital savvy consumers however, are more empowered than they have ever been, and as a result becoming less responsive to these traditional brand messages, diminishing the power and influence of brands.
What moves do brands need to make to combat this? Here are three that we’d suggest;
Traditionally, brands have always taken the approach of shouting at consumers, however now that communication has taken a shift & has become more democratic, consumers demand that brands listen to them. They want brands to take their advice onboard, implement them to improve general customer experience, their products, their discounts etc.. Brands need to invite their most influential, loyal customers into the inner circle, to gain a real insight and understanding on how they can improve.
The same aforementioned Havas study stated that brands considered to be meaningful can expect 46 % more share of wallet than those less meaningful. So how do you become a meaningful brand? As well as listening to them, consumers also expect brands to improve their general well-being, make their daily routines easier, help them become healthier and enable them to stay in touch with friends and loved ones. Consumers also expect brands to play an increasingly larger role in their communities by incorporating CSR initiatives and sponsoring socially good events. Many customers have stated that they themselves will pivot to find another company they can support who they feel support their community in return.
Meaningful brands empower self-esteem and self-expression, as well as supporting emotional well-being. Go Pro are a great example, they empower their audience to take wonderful photos, with the technology they provide, but more than that their Instagram page acts as a platform to showcase user-generated, exciting, exhilarating images.
Pivoting a brand positioning can be challenging and in order to accomplish that it is vital to think of any potential changes in the market segment or the consumer behaviour in the near future. Those threats need to be considered carefully and pivots should be baked into the brand strategy.
Follow us on Twitter: @Noiragency