This month’s brand glossary term is one of the most grieved terms to know for any business or brand owner. The thing is, despite having that negative outlook on the word, it’s really crucial to keep in mind because it can bring back light in the darkest of times any business or brand may see. Let’s talk brand repositioning.
What is brand repositioning exactly?
Brand Repositioning refers to the act of changing the status of a brand or business in a market. It encompasses a variety of strategies that all play into altering how an audience or consumer group perceives the brand or business (or product).
When does brand repositioning happen?
The biggest indicator that a brand needs to undergo repositioning is when there’s a noticeable performance shortage as a whole or for a product or service. These problems are usually identified when a brand hires a professional to perform a brand audit, or a professional evaluation of the performance of a brand. A brand audit will usually determine one of the following:
- The product isn’t reaching the right audience or is out of range from the brand’s current audience.
- The brand’s social media profiles (or website) are not properly engaging its audience.
- The brand overall is reaching the wrong audience.
How does brand repositioning happen?
Again, brand repositioning is anything that can alter the perception of your brand or something within your brand (product, service, etc.) to fulfill a different goal or purpose. So let’s take the issues determined by the brand audit from the previous section and apply repositioning ideas to them.
Problem #1: The product isn’t reaching the right audience or is out of range from the brand’s current audience.
Resolve: Let’s say the product is seen as too expensive and isn’t doing well in sales. There are two routes a brand could take here (for starters). The first would be to retarget your audience through different marketing tactics to reach people who have spending habits within that price range of the product. The other option would be to reposition by means of marking the price down on the product.
Problem #2: The brand’s social media profiles (or website) are not properly engaging its audience.
Resolve: The first thing that comes to mind in this scenario is content quality. You could be posting several times a day to Instagram and Facebook but have little to no reach. Why is this? The repositioning tactic would be to go back to the drawing board and come up with a different content plan that’s more marketable to the following or desired audience.
Problem #3: The brand overall is reaching the wrong audience.
Resolve: This issue occurs more frequently than you realize and spending time to reposition is a great way to resolve this. While it ties in easily with the resolve for Problem #1, this issue can also be addressed by changing your tone, content, pricing, etc.
If you’re concerned that your brand might be going through issues that may require brand repositioning, LOVET AGENCY offers brand audit services with detailed reports. Click Here to view the package.
Want to catch up on other brand terms? Visit our blog to find more from our Brand Glossary series!